Per a release, the publicly traded digital asset management company is integrating its existing business lines to miner-focused financial services – internally referred to as “MiFi” – including lending, investment, and risk management offerings.
As reported by Coindesk, Galaxy Digital Mining, the firm’s mining branch, will also oversee a proprietary mining operation.
Amanda Fabiano, Fidelity’s former director of mining, is leading the mining operations.
Fabiano said in a statement that Galaxy’s proprietary mining operation helps the company “deeply understand and solve for the financial needs of miners.”
Galaxy shares have roughly doubled in the last three months, trading at $8.48 in post market hours.