Bitcoin Mining now welcomes Mike Novogratz’s Galaxy Digital

16 Jan 2021

Michael Novogratz has embraced the option to make his Galaxy Digital a new establishment for Bitcoin Mining. With this decision, Michael aligns his company to start offer crypto miners an access point for outsourcing financial services and related expertise. Galaxy Digital is also set to start its own bitcoin mining project, though on patented basis.

This would be a very big step for Galaxy Digital, making the establishment the investment company’s new appointed selection. The integration plan is expected to concentrate on the establishment of an entirely different business structure targeted at offering miners a source for financial services.

What this means for crypto miners

For crypto miners, this project is the much awaited gateway for more convenient services. The new establishment will provide a bridge for the business connections that are already in place, towards ensuring that bitcoin miners have a working set of financial services and products on the ready when they need it. Among the services that will be offered include guides for risk management, trading, lending of principals for investment, and equity investment. They would also be able to consult when faced with issues relevant to the industry and platform.

According to Galaxy Digital, this project will be active in 2021 and is intended to adhere to procedures for mining bitcoin. Bitcoin miners will benefit from the mix of trading expertise, risk management solutions, lending and expert counsel, alongside the other matters pertaining to the crypto mining ecosystem.

As part of the leadership for the project, Galaxy Digital is going to feature Lara Fabiano who is Bitcoin Mining’s former director at Fidelity Investments. Lara will spearhead this team and will serve alongside other industry professionals to create a pool of expertise in modern securitization, asset finance, structured products, investment banking and expert counsel.

Galaxy Digital’s future in Bitcoin Mining

The incorporation of Galaxy Digital into the bitcoin mining space is certainly going to be a step closer for the company into their own bitcoin mining future. Even with this association, they will still be mining bitcoin on a patented basis. Following the establishment of their own bitcoin mining system, the company will reserve their infrastructure, including necessary devices and machines.

Galaxy Digital Holdings CEO, Mike Novogratz, has shared his thoughts concerning the future of Bitcoin as an industry giant. According to him, the value of this big crypto asset as of late was driven by investors with high net-worth, particularly hedge funds among other recognized organizations. Mike also demonstrated his belief that the fact that these big investors take part in influencing prices, as well as the level of trust that regulation is bringing, the volatility of the crypto should reduce by a significant margin.

Worldwide News

Grayscale launches its first European ETF

Grayscale has launched its first European ETF The ETF will track the performance of the Bloomberg Grayscale Future of Finance index The ETF will start trading on May 17 Grayscale, the world...

FTX CEO says Bitcoin cannot be a successful payment system

The FTX CEO has said that Bitcoin cannot be used as a successful payment method The executive said that Bitcoin had the potential to be used as a store of value like gold Bankman-Fried has previou...

Elon Musk says Dogecoin has the potential to be the world’s currency

Elon Musk has said that Dogecoin has the potential to be a currency Despite the praise, Dogecoin failed to make any significant gains Dogecoin remains one of the worst-performing tokens in the top...

Australian Taxation Office requires crypto holders to pay capital gains taxes

Australia has required crypto holders to pay taxes on crypto gains and losses The tax body will tax cryptocurrencies in the same way as property and shares Australia recently approved a Bitcoin an...

Binance unveils cryptocurrency Visa card for Ukrainian refugees

Binance has launched a crypto Visa card for Ukrainian refugees. The card will be used to make direct donations to Ukrainian refugees. Binance also released a $10M fund to support Ukrainian refugees....