Galaxy enters Bitcoin mining, launches financial services unit for miners
Mike Novogratz's Galaxy Digital is launching its own Bitcoin mining operations and creating a new business unit dedicated to providing financial services to miners. Galaxy Digital — the financial services and cryptocurrency investment management firm founded by Mike Novogratz — has set its sights on establishing a footing in the Bitcoin (BTC) mining sector.After a year of increasingly diversifying its products and activities, the company has announced two new forays into the Bitcoin mining sector for 2021. The first project will be a new business unit that Galaxy describes as "a one-stop....
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Galaxy has launched its proprietary mining and miner financial services operations.
Galaxy Digital has secured a $1.4 billion loan to repurpose its Helios Bitcoin mining center into an artificial intelligence data center. This move aligns with the digital asset management firm’s long-term deal with the Graphics Processing Unit (GPU) provider CoreWeave Inc. Loan Facility To Cover 80% Of Data Center Project On Friday, August 15, Galaxy […]
It’s been a busy few months for crypto financial services firm Galaxy Digital. From sales to satoshis, the company has been making headlines. Galaxy Digital is fresh off the heels of acquiring digital assets infrastructure firm BitGo, and is one of four firms to lead a recent Canadian petition for an Ethereum ETF. Now, Galaxy […]
Prior to the market hype on bitcoin mining a few years back, not a lot of people paid attention to the cryptocurrency and its related technology. It was fairly easy to mine bitcoins back then and the equipment needed to generate the digital currency wasn't as expensive as it is these days. In fact, only a standard computer CPU (central processing unit) can be enough for bitcoin mining operations, as opposed to the huge machines or high-powered ASIC devices used lately. As more bitcoins were mined and the remaining ones dwindled, the cost of mining each unit steadily increased. Bitcoin....
Woori Bank, the South Korean financial institution, enters the DACS (cryptocurrency custody services) market. The Woori Financial Group will start offering its client cryptocurrency custody services. It is among the largest South Korean financial institutions. Related Reading | Nifty’s Inc. Partners With Warner Bros To Roll Out A Social NFT Platform The banking unit of […]