Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Achieved a 65% landfill diversion rate (100% including waste-to-energy) in New York office.
• Implemented a composting program in New York office.
• Achieved LEED Gold Certification at New York and Chicago office locations and LEED Certification at San Francisco office location.
• Held WELL Health Safety Ratings at New York and Chicago office locations.
• Held Good Class Certification for Indoor Air Quality as well as Flushing Water Gold and Fresh Water Blue Management System Certifications from the Quality Water Supply Scheme for Buildings at Hong Kong office location.
• Galaxy’s Mining business achieved an energy mix that utilizes a higher percentage of energy from renewable sources than the Electric Reliability Council of Texas (ERCOT) grid as a whole.

Social Achievements

• Launched a mental health focused employee resource group.
• Introduced a Health Care Travel and Lodging Assistance Program for U.S. employees.
• Expanded scope of the Women at Galaxy Employee Resource Group (ERG).
• Donated nearly $60,000 to 501(c)(3) organizations.
• Donated over 100 gifts and 20 gift cards to families through WIN.
• Sponsored the International Women of Blockchain Conference ($15,000).

Governance Achievements

• Established a Third-Party Code of Business Conduct and Ethics Policy (pilot program).
• Implemented a Social Media Compliance Policy and mandatory annual firmwide social media training.
• Maintained a robust risk-based Anti-Money Laundering (AML), anti-corruption, antitrust, and competition policies, procedures, and controls.

Climate Goals & Targets

Environmental Challenges

• Increased pricing of GHG emissions and introduction of mandatory carbon pricing.
• Enhanced emissions-reporting obligations.
• Mandates on and regulation of existing products and services.
• Uncertainty in market signals.
• Changes in network dynamics (increased cost of raw materials, infrastructure expansion costs, increased cost of electricity).
• Shifts in client preferences and stigmatization of the sector.
• Increased severity of extreme weather events and rising mean temperatures.

Mitigation Strategies

• Diversification of Galaxy’s business model.
• Integrated immersion cooling technology into Bitcoin mining facilities.
• Curtailing mining operations during peak demand periods.
• Supporting renewable energy sources by consuming electricity when prices are low.
• Proactive in analyzing new technologies that could optimize mining operations and energy efficiency.
• Continuous hedging of exposure through a macro approach that considers a wide array of scenarios.

Supply Chain Management

Responsible Procurement

• Third-Party Code of Business Conduct and Ethics Policy

Climate-Related Risks & Opportunities

Physical Risks

• Increased severity of extreme weather events
• Rising mean temperatures

Transition Risks

• Increased pricing of GHG emissions
• Introduction of mandatory carbon pricing
• Enhanced emissions-reporting obligations
• Mandates on and regulation of existing products and services
• Uncertainty in market signals
• Changes in network dynamics
• Shifts in client preferences
• Stigmatization of sector

Opportunities

• Resource efficiency
• Use of lower-emission sources of energy
• Use of new technologies
• Shift toward decentralized energy generation
• Shift in client preferences
• Participation in renewable energy programs

Reporting Standards

Frameworks Used: GRI, SASB, TCFD, UN SDGs

Certifications: LEED Gold (NYC, Chicago), LEED (San Francisco), WELL Health Safety Ratings (NYC, Chicago), Good Class Certification for Indoor Air Quality (Hong Kong), Flushing Water Gold and Fresh Water Blue Management System Certifications (Hong Kong)

Third-party Assurance: Apex Group

UN Sustainable Development Goals

• Goal 3
• Goal 4
• Goal 5
• Goal 6
• Goal 7
• Goal 8
• Goal 9
• Goal 10
• Goal 12

Initiatives across Galaxy help advance 9 of the 17 UN SDGs.