Galaxy Digital has excess capital following the acquisitions.
Co-Chair Chris Ferraro announced that Galaxy Digital has remaining capital after two infrastructure acquisitions late last year. He also said that the company plans to spend that surplus with initial investments.
Galaxy Digital Capital Will Invest Too Much
In December, Galaxy Digital agreed to purchase the Helios Bitcoin mining facility and related operations from Argo Blockchain for approximately $65 million. Last month, the company acquired nearly all of the assets of GK8, a secure corporate digital asset custody platform, for approximately $44 million.
Speaking at the JMP Securities Technology Conference, the company’s co-chairman, Chris Ferraro, said this year’s acquisitions should be about empowering, integrating, laying the foundation and building.
Ferraro continued his words as follows:
“We are lucky to have the excess capital, to be able to be capitalized even after all this. I won’t rule out that we may be active again on the M&A side, but if we don’t get these right, we don’t have the right to buy more companies.”
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