Amanda Fabiano, the head of mining at cryptocurrency financial services startup Galaxy Digital (GLXY), has quit the company to launch her own consultancy business. According to a release, Fabiano will launch a new consultancy company called Fabiano Consulting to aid bitcoin miners in expanding their operations.
“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.”
As the company’s first clients, Fabiano stated she will cooperate with companies like Giga Energy and Compass Mining.By providing operational and capital markets products, she spent three years at Galaxy expanding the company’s mining division. She was once Fidelity Investments’ director of bitcoin mining. The purchase of the Helios mining facility from miner Argo Blockchain (ARBK) last year was one of the most important projects carried out under Fabiano. The agreement, which was worth around $100 million, saved the miner from going bankrupt and gave Galaxy access to a 180 megawatt-capable mining operation.
The mining sector was severely impacted by the protracted crypto winter, which slashed miners’ income and resulted in high-profile bankruptcy. Miners need smart business plans now more than ever with the Bitcoin network’s hashrate close to an all-time high and the halving scheduled for next year, 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.