Galaxy Expands Blockchain Infrastructure Capabilities with CryptoManufaktur Asset Acquisition

Asset Acquisition of Established Node Operator Bolsters Galaxy’s Staking Capabilities, Increases AUM to $3.3B

NEW YORK, July 19, 2024 /CNW/ – Galaxy Digital Holdings Ltd. public limited company. (TSX: GLXY) announced today that it has acquired substantially all of the assets of CryptoManufaktur LLC (“CMF”), a blockchain node operator that provides trusted and secure services to decentralized protocols in the digital asset ecosystem. As part of the transaction, CMF’s three-person team of experienced engineers, led by founder Thorsten Behrens, will join Galaxy’s Blockchain Infrastructure team, which provides staking and validation services to qualified investors, protocols, and digital asset platforms.

Galaxy’s acquisition of CMF will significantly enhance its ability to provide technical and infrastructure support for key projects and implementations and strengthen the company’s Oracle Data as a Service offering to customers. The addition of CMF brings approximately $1 billion in Ethereum assets at stake (“AUS”), increasing the company’s total AUS1 to $3.3 billion, while also building on the strength of Galaxy’s diversified business model.

“Galaxy is rapidly expanding its blockchain infrastructure and staking capabilities and its ability to provide enterprise-level technical expertise and support to strategic corners of the digital asset ecosystem. Our acquisition of CMF is an important milestone that significantly enhances our position as a leading technical partner to protocols and builders,” said Zane Glauber, Head of Galaxy’s Blockchain Infrastructure team. “Additionally, we are fortunate to add someone with the track record and authority of Thorsten, a highly respected member of the staking community. We are thrilled to welcome him and his engineering team.”

Founded in 2020 by Thorsten Behrens, a long-time engineer and thought leader in the Ethereum ecosystem, CMF has established itself as a leading blockchain infrastructure provider. Originally launched to create a foundational infrastructure for Chainlink’s price feeds, CMF has since expanded to operate an automated and secure Ethereum proof-of-stake (“PoS”) node deployment infrastructure, as well as supporting other oracle and PoS ecosystems. CMF has nodes running on Ethereum, Polygon, Optimism, and multiple other blockchains.

“Galaxy’s acquisition of CMF’s assets is an exciting step in our company’s journey and a testament to the strength of our team and our experience building essential blockchain infrastructure,” said Thorsten Behrens. “Having worked closely with Galaxy’s talented team, we believe Galaxy is uniquely positioned to serve as a go-to blockchain infrastructure provider and a leading validator in high-performance blockchain. We look forward to joining the team and expanding our combined operations.”

About Galaxy

Galaxy (TSX: GLXY) is a digital asset and blockchain leader providing access to the growing digital economy. We serve a diverse customer base, including institutions, startups, and qualified individuals. Since 2018, Galaxy has built a holistic financial platform spanning three complementary operating businesses: global markets, asset management, and digital infrastructure solutions. Our offerings include, among others, trading, lending, strategic advisory services, institutional-grade investment solutions, proprietary bitcoin mining and hosting services, network validation services, and enterprise custody technology development. The company is headquartered in New York City, with global offices in North America, Europe, and Asia. More information about Galaxy’s businesses and products can be found at www.galaxy.com.

Disclaimers

The TSX has neither approved nor disapproved the contents of this press release.

CAUTION ON FORWARD-LOOKING STATEMENTS

The information in this communication may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and “forward-looking information” within the meaning of Canadian securities laws (collectively, “forward-looking statements”). Our forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, including statements relating to the Company’s Blockchain Infrastructure business. In addition, all statements that refer to estimates, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “predict,” “intend,” “could,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this release are based on our current expectations and beliefs about future developments and their potential effects on us, based on information currently available to us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks include, but are not limited to (1) changes in applicable laws or regulations; (2) the possibility that the combined company may be adversely affected by other economic, business and/or competitive factors; (3) changes or events impacting the cryptocurrency industry, including potential regulation, that are beyond our control; (4) the risk that our business will not grow in line with our expectations or will not continue on its current trajectory; (5) the possibility that our addressable market will be smaller than we anticipate and/or that we may not acquire a share of it; and (6) those other risks contained in the annual information form for the year ended December 31, 2023 available on the Company’s profile at www.sedarplus.ca o . Factors that could cause the Company’s actual results to differ materially from those described in such forward-looking statements include, but are not limited to, a decline in the digital asset market or general economic conditions; the possibility that our addressable market is smaller than anticipated and/or that we may not gain share of the stated addressable market; the failure or delay in adoption of digital assets and the blockchain ecosystem and the related impacts on our business, including the integration of CMF. If one or more of these risks or uncertainties materialize, they could cause actual results to differ materially from the forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not take any statements regarding past trends or activity as a representation that the trends or activity will continue in the future. Accordingly, you should not place undue reliance on these statements.

SOURCE Galaxy Digital Holdings Ltd.

Investor Relations Contact, Jonathan Goldowsky, [email protected]; Media Relations Contact, Michael Wursthorn, [email protected]

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