According to PANews, Galaxy Digital plans to reduce its Bitcoin mining output in the coming quarters due to a new 15-year hosting agreement with CoreWeave. This strategic move involves transforming its Texas data center into facilities dedicated to artificial intelligence (AI) and high-performance computing (HPC).
In its fourth-quarter financial report, Galaxy Digital revealed that it mined 977 BTC in 2024, generating $22.1 million in revenue after accounting for reduction subsidies, with expenses totaling $11.9 million. The marginal cost per Bitcoin in the fourth quarter was below $38,000, while the average cost for the year was approximately $26,000.
Despite these figures, Galaxy Digital anticipates a decline in its managed hash rate and overall Bitcoin production as it reallocates resources from Bitcoin mining to support CoreWeave's AI infrastructure.