Galaxy Digital has money left over after two infrastructure acquisitions late last year, but plans to settle with the first investment, said Chris Ferraro, co-president of Galaxy Digital.
Speaking at the JMP Securities Technology Conference, Ferraro said this year should be about strengthening post-acquisition management, integrating them, laying the groundwork and building. We’re lucky to have excess capital to capitalize even after all of this. I wouldn’t discount that we might be active again in terms of M&A, but if we don’t, we’re not doing the right thing buying more companies.
In December last year, Galaxy Digital agreed to acquire the Helios bitcoin mining facility and related businesses from Argo Blockchain for about $65 million, and last month completed the acquisition of almost all assets of security agency digital asset custody platform GK8. Acquisition, the price is about 44 million US dollars.