Galaxy Digital develops a service to provide services to bitcoin miners

Founder of the Galaxy Digital cryptocurrency fund Mike Novograts (Mike Novogratz) announced the development of a service to provide financial assistance to Bitcoin miners.

Novograts said, that Galaxy Digital will provide miners with a different range of services: financing, Help in Bitcoin conversion into fiat currencies, as well as consultations on stock markets and expanding mining activities. According to Novograz, This initiative is allocated $400 mln.

The head of the cryptocurrency fund is sure, that in the future this will help miners simplify access to mining equipment. According to the Cambridge Center for Alternative Finance, only 12% Equipment for cryptocurrency mining is sold to miners from North America.

Galaxy Digital Executive Director Jan Taylor (Ian Taylor) said, that mining requires large investment and long -term planning. The new service is aimed at, To solve these customer problems and help them navigate the industry. To create a project, Galaxy Digital specialists will combine all their developments in the field of trade, investment banking and asset management.

According to Taylor, Many American mining companies begin to compete with large Asian players like Bitmain. Thanks to the creation of large -scale mining projects, There is a migration of the Bitcoin hashrate to North America. Such power rejection contributes to the healthy development of the network, Therefore, Galaxy Digital intends to help American mining companies "master this territory".

Recall, that recently Novograts shared his thoughts on the development of the decentralized financing industry (DeFi) and talked about the investment of Galaxy Digital in Defi projects.