Argo

Galaxy

Bitcoin

Amanda Fabiano, the influential head of mining at Galaxy Digital, has left her position to establish her own consulting business. Fabiano's new venture, aptly named Fabiano Consulting, aims to help <a href="https://ultramining.com/news/en/russias-bitcoin-gold-rush-mining-machine-influx-outpaces-rest-of-the-world/">Bitcoin miners</a> scale their operations. Her departure occurs as Galaxy Digital is ramping up its mining activities and releasing a comprehensive report on Bitcoin's energy consumption, according to <a href="https://www.coindesk.com/business/2023/10/03/galaxys-head-of-mining-amanda-fabiano-departed-to-start-consulting-company/?utm_campaign=headlines&amp;utm_medium=referral&amp;utm_source=rss">coindesk</a>. 
During her tenure at Galaxy, Fabiano was a managing director and had a sweeping role across multiple sectors including principal investments, trading, investment banking, and asset management. She was instrumental in expanding Galaxy's proprietary mining business. One of Fabiano's landmark deals was the acquisition of the Helios mining facility from <a href="https://ultramining.com/news/en/argo-blockchains-struggles-continue-with-a-17-drop-in-bitcoin-production/">Argo Blockchain</a> for nearly $100 million. This move not only saved Argo from impending bankruptcy but also gave Galaxy an operational boost with a mining capacity of 180 megawatts. 
Fabiano's exit comes at a critical juncture for the <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/">mining industry</a>. The recent surge in Bitcoin's network <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/">hashrate</a> to near-record highs signifies a thriving but increasingly competitive environment. With a Bitcoin <a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/">halving</a> event anticipated next year, Fabiano believes it's crucial for miners to strategize for long-term growth. Accordingly, her new consulting firm will focus on offering strategic guidance to Bitcoin <a href="https://ultramining.com/news/en/blockstream-aims-for-bitcoin-profit-with-mining-rig-investment-ahead-of-2024-halving/">mining companies</a>, including inaugural clients Compass Mining and Giga Energy. 
Before joining Galaxy, Fabiano directed Bitcoin mining activities at Fidelity Investments, further solidifying her credibility in the sector. She has been a vocal advocate for Bitcoin mining, sharing her insights at various industry conferences and events. Last year, she led a discussion on the state of Bitcoin mining, indicating her deep understanding of the field. 
Fabiano is eager to leverage her experience and insights to aid companies in their growth phases. "I've discovered I really enjoy working with companies in their growth stages and love building," she remarked in a statement. With the <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/">mining industry</a> at a pivotal point and needing astute strategies, Fabiano's expertise could be the catalyst for new growth opportunities in the Bitcoin mining landscape.

Amanda Fabiano Exits Galaxy Digital to Spearhead Bitcoin Mining Advisory Firm

Ultramining_Eng

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