Galaxy Digital announced the launch of financial services for miners and its own mining business, which it has been preparing since last fall.
According to the press release, the publicly traded digital asset management company will integrate its existing business lines with MiFi (MinerFinance), a financial service focused on miners, including credit, investment and risk management offerings.
Galaxy Digital Mining, the company's mining division, will oversee the firm's own cryptocurrency mining operations. Amanda Fabiano, head of the division, said the launch of cryptocurrency mining operations helps Galaxy "better understand and meet the financial needs of miners."
Galaxy Digital will provide a wide range of services to miners: financing, assistance in converting BTC into fiat currencies, as well as advice on stock markets and the expansion of mining operations.
In October, the founder of cryptocurrency fund Galaxy Digital, Mike Novogratz, announced the development of a service to provide financial assistance to bitcoin miners. The initiative was allocated $400 million.
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