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.
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....
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IBM recently launched its Industry Platforms business unit in a bid to deliver blockchain solutions to its customers. According to eWeek, the company has said that the launch of last week’s blockchain unit will focus on financial services organizations in addition to other business units. IBM said: The Industry Platforms unit will focus on Watson for financial services, blockchain and strategic partnerships. Bridget van Kralingen, a fast-tracked IBM executive who has been head of IBM Global Business Services, will be in charge of the unit. Charles King, principal analyst at Pund-It said to....