CleanSpark is a Bitcoin firm mining and they have been planning of continuing their strategy of picking up troubled assets from mining companies throughout the year 2023.
This BTC mining firm has also released its financial earnings for the first quarter on 9th February. CleanSpark has mentioned that they stayed positive and continued to grow. Gary Vecchiarelli, a financial officer in chief of CleanSpark, stated that they witnessed huge growth during the previous 12 months. As a result, they feel confident about executing their future plans. He further added that their growth will be bigger in 2023 owing to their acquisitions and mergers.
Mining firm, CleanSpark, On An All-time High
Vecchiarelli has also added that they are still buyers within this market of cryptocurrency. However, with their recent successes, their strategy remains the same. He said that they do not feel any anxiety regarding their position and do not want to indulge in M&A. They obviously will take advantage of their opportunities and success.
The Chief FO also said that their smaller operations in crypto mining might be in trouble. In this response, the company is looking to scoop up assets and infrastructure at reasonable offers.
Cryptocurrency Firms In Advantageous Positions
In 2022 November, CleanSpark had broken off over 3,840 S19J Antminer Pro mining machines while the market prices were at a low level. A few months prior to that, CleanSpark had purchased the mining facility of Mawson in Sanderville for a price of $33 million. They also bought a 36-megawatt facility in Georgia for a whopping $16.2 million.
CleanSpark is also known to have purchased thousands of BTC miners at a discounted rate in mid-2022. They intend on continuing their expansion in 2023 as well. Despite positive plans, they dropped 5.2% on 10th February after-hours trading.
