Amanda Fabiano leaves Galaxy Digital to start consultancy

69
1
Amanda Fabiano leaves Galaxy Digital to start consultancy

Amanda Fabiano, the head of mining at Galaxy Digital, has left the firm to start her own consultancy.

Fabiano Consulting will be forming a new advisory firm, Fabiano Consulting, to help bitcoin miners grow their business, according to a statement to CoinDesk.

Fabiano said she will be working with a range of first-time clients of the consultancy, including Compass Mining and Giga Energy.

She spent three years at Galaxy, establishing the firm's mining operations, offering operational and capital markets products. She was previously a director of bitcoin mining at Fidelity Investments.

Fabiano's acquisition of the Helios mining facility was one of the most significant projects under his administration last year, thanks to the miner Argo Blockchain. The deal, worth almost $100 million, brought Galaxy back from the brink of bankruptcy and provided Galaxy with an operation with a mining capacity of 180 megawatts.

The mining industry was significantly affected by the long-lasting crypto winter, which harmed miners' profits and led to high-profile bankruptcies. Now, with the 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, Fabiano said.

Fabiano said there was a lot of frustration in the community and that he was not aware of it.

Bitcoin halving is coming and only the most efficient miners will survive.