Galaxy Digital (GLXY) has announced the launch of its miner financial services, and that it’s going to start its own bitcoin mining operations.

  • Per a release, the publicly traded digital asset management firm is integrating its existing business lines to miner-focused financial services – internally referred to as "MiFi" – including lending, investment and risk management offerings.
  • Galaxy Digital Mining, the firm's mining branch, under development since before October, will also oversee the firm's own mining operation.
  • Fidelity's former director of mining, Amanda Fabiano, is leading the mining operations.
  • In a statement, Fabiano said Galaxy's proprietary mining operation helps the company "deeply understand and solve for the financial needs of miners."
  • Galaxy shares have nearly doubled in the past three months, trading at $8.48 in post-market hours.

Update (Jan. 14, 23:08 UTC): Context added throughout.

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