NEW
YORK, July 1, 2021 /CNW/ - Galaxy Digital
Holdings Ltd. (TSX: GLXY) ("Galaxy Digital", "the Company"), a
financial services and investment management innovator in the
digital asset, cryptocurrency, and blockchain technology sectors,
today participated in the Bitcoin Mining Council's ("BMC") first
quarterly survey readout and shared the significant sustainable
energy mix usage for its Bitcoin Mining Business. Galaxy Digital's
participation in the BMC represents a commitment to conducting
business based on a strong sustainability framework that
prioritizes responsible ESG practices.
Galaxy Digital joins a group of industry leaders as a founding
member of the BMC, a voluntary and open forum to promote
transparency, share best practices, and educate the public on the
benefits of Bitcoin and Bitcoin mining. Today, the BMC shared
sustainable energy information sourced from over 32% of the current
global Bitcoin network, including Galaxy Digital, which showed
participants are utilizing electricity with a 67% sustainable power
mix. The BMC also estimated that the global mining industry's
sustainable electricity mix had grown to approximately 56%, during
Q2 2021, making Bitcoin mining one of the most sustainable
industries globally. Additional information about these findings
can be found here and more information can be found on the BMC's
website.
Galaxy's Bitcoin Mining Business ("GDM") is currently utilizing
electricity with an over 69% sustainable power mix. GDM's
three-year target is to achieve an over 80% sustainable power
mix.
Galaxy Digital's representative on the BMC and Head of Mining,
Amanda Fabiano, said "I am excited
to participate in the ongoing dialogue around Bitcoin's energy mix
and witness how our industry has voluntarily come together to
promote transparency and share critical information with the
public. Galaxy Digital is committed to reporting against our
sustainability goals and guiding our clients along their
sustainability journeys. We look forward to updating and educating
the market and our stakeholders on our progress."
GDM's business is expected to represent just under 2,000
petahash of monthly delivery of mining capacity through the end of
2022, which is more than 1% of the current total Bitcoin network.
GDM is dedicated to providing bitcoin miners with a comprehensive
suite of financial services and products and has provided numerous
mining financing ("MiFi") services to bitcoin miners around the
globe.
About Galaxy Digital
Galaxy Digital (TSX: GLXY) is a
diversified financial services and investment management company in
the digital asset, cryptocurrency, and blockchain technology
sectors. Galaxy Digital's team has extensive experience spanning
investing, portfolio management, capital markets, venture capital,
asset management, and blockchain technology. Galaxy Digital
operates in the following businesses: Trading, Asset Management,
Principal Investments, Investment Banking, and Mining. Galaxy
Digital's CEO and Founder is Mike
Novogratz. The Company is headquartered in New York City, with offices in Chicago, San
Francisco, London,
Amsterdam, Tokyo, Hong
Kong, the Cayman Islands
(registered office), and New
Jersey. Additional information about the Company's
businesses and products is available on www.galaxydigital.io.
Disclaimers
The TSX has neither approved nor
disapproved the contents of this press release.
SOURCE Galaxy Digital Holdings Ltd.