Cryptocurrency financial services firm Galaxy Digital’s (GLXY) head of mining, Amanda Fabiano, has left the firm to start her own consulting services company.
Fabiano will be starting a new advisory firm - Fabiano Consulting - to help bitcoin miners grow their business, according to a statement to CoinDesk.
“I've discovered I really enjoy working with companies in their growth stages and love building," she said in the statement. "I'm eager to utilize the knowledge and background I've gained and assist others in their growth endeavors.”
Fabiano said she will be working with Compass Mining and Giga Energy, among others, as inaugural clients of the consulting business.
She spent three years at Galaxy building up the firm’s mining business, offering operational and capital markets products. Previously she was director of bitcoin mining at Fidelity Investments
One of the most significant undertakings under Fabiano was the acquisition of Helios mining facility from the miner Argo Blockchain (ARBK) last year. The deal – worth nearly $100 million – brought the miner back from the verge of bankruptcy and provided Galaxy with an operation with a mining capacity of 180 megawatts.
The prolonged crypto winter weighed heavily on the mining industry, which crushed miners' profits and led to high-profile bankruptcies. Now, with Bitcoin network’s hashrate near an all-time high and the halving coming next year, miners need prudent strategies to grow their operations more than ever, according to Fabiano.
“As we witness a continuous rise in hash rate, it becomes imperative for companies to ponder the pivotal question: How can I position myself for success in the present market conditions and the post-halving future?” Fabiano noted.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.