Galaxy Digital CEO: Helios Mining Deal a Transformative Acquisition for Firm

Galaxy Digital CEO Mike Novogratz calls Helios mining deal a transformative acquisition for the firm. "Bear markets are for building. We’re long-term believers in $BTC and expect the lowest-cost miners to win over time. Helios is a transformative acquisition that will expand our mining capabilities and services as we continue to build for the decentralized future."

Explaining the deal in further detail, Mike Novogratz outlined that the firm has a specific thesis on how to approach the mining sector: "low-cost electricity, a very efficient team" and "buying ASIC miners cheap."

Previously, Argo Blockchain CEO Peter Wall officially announced on Dec. 28 a deal with Galaxy Digital to sell the Helios mining facility for $65 million.