Galaxy Digital, the publicly traded cryptocurrency conglomerate led by Michael Novogratz, has consummated a strategic acquisition of virtually all assets belonging to the blockchain node operator CryptoManufaktur LLC (CMF), thereby amplifying its Ethereum staking portfolio.

The announcement detailed that Galaxy will assimilate CMF’s operational and engineering contingents along with its associated assets, bolstering Galaxy’s serviced staking assets by approximately 43%. Although specific financial terms remain undisclosed, this acquisition marks a substantial enhancement in Galaxy’s staking capabilities.

Thorsten Behrens, CMF’s founder, along with his triad of engineers, will be integrated into Galaxy’s blockchain infrastructure division. This division specializes in providing staking and blockchain validator services to a clientele comprising qualified investors, protocols, and digital-asset platforms.

Read more: Polygon’s September Token Migration: Transition from MATIC to POL

Originally inaugurated in 2020 to construct infrastructure for the blockchain oracle project Chainlink, CMF subsequently broadened its scope to include the management of automated proof-of-stake node deployment infrastructure on Ethereum. The acquisition brings approximately $1 billion of Ethereum assets under stake into Galaxy’s fold, elevating its total to $3.3 billion.

Galaxy Digital has been methodically expanding its footprint in the blockchain infrastructure sector, supplementing its primary operations in cryptocurrency trading and investment management. Michael Novogratz, a prominent figure in both the cryptocurrency realm and business media such as CNBC, leverages his extensive Wall Street experience, including tenures at Goldman Sachs and Fortress Investment Group, to steer Galaxy’s growth trajectory.

Zane Glauber, head of Galaxy’s blockchain infrastructure team, remarked, “Galaxy is swiftly augmenting its blockchain infrastructure and staking capabilities, offering enterprise-grade technical acumen and support to pivotal segments of the digital-asset ecosystem. Our acquisition of CMF is a significant milestone that enhances our stature as a premier technical collaborator for protocols and developers.”

This acquisition not only underscores Galaxy Digital’s commitment to expanding its technological prowess but also solidifies its role as a formidable player in the digital asset infrastructure landscape.