"We have been successful in sourcing and closing transactions which not only grow our percentage of the total global hash rate, but also produce meaningful bitcoin and cash flow while still paying down what little debt we have," he added. "We have been thoughtful and calculated buyers in this market, seeking out accretive acquisitions and efficiently deploying capital," Vecchiarelli said in a statement on Thursday. In the latest bear market, while more miners were reeling from the slump in bitcoin prices and higher energy costs, CleanSpark took the opportunity to buy assets and mining machines on the cheap. He also thinks that if bitcoin's price doesn't get close to $40,000 heading into the next halving event, there will likely be a lot of smaller miners, particularly private companies that won't be able to access the capital markets, yielding potential opportunities for CleanSpark.
"We don't feel compelled to go out and have to do M&A but obviously if we see a good deal we'll take advantage of that," said Chief Financial Officer Gary Vecchiarelli on his company's fiscal first-quarter earnings conference call on Thursday. Bitcoin miner CleanSpark (CLSK) said it will continue to look for growth through accretive acquisitions of mining assets, as the crypto winter continues to weigh on the industry.
0 kommentar(er)
