In a recent interview with Cointelegraph, White Rock’s CEO said there is a ton of activity in Texas, and the mining sector is in great shape.
He explained:
Grid-connected miners are working with ERCOT to provide demand response during severe weather, and we see continued growth coming across the state.”
The cryptocurrency bear market offers excellent opportunities!
The crypto-market is on a bearish run, and that has given so many companies the opportunity to expand their portfolios.
Andy Long, added that stated the crypto-currency bear market offers excellent M&A opportunities and White Rock is doing well, and its balance sheet is in excellent shape, although there is more volatility ahead.
He stated:
The bear market has presented challenges for miners who have taken on debt at the top of the market, however, the industry has been here before, and well-capitalized and efficient miners will do very well.
White Rock’s CEO said the ongoing crypto winter would provide key M&A opportunities for companies with a positive net worth. Long stated:
Bear markets actually present excellent opportunities, so we expect to see M&A and consolidation activity in the mining sector involving public and private players – to achieve economies of scale and combine complementary operations. We will also see network growth resume, not at the level expected at year-end, but we will probably be at least 20% higher by year-end.
The U.S. has become the world’s top crypto-mining country after China banned mining last year.
Long said the Texas mining sector has performed well despite the ongoing heat wave. He pointed out that the crypto-mining sector’s effective coordination with the Electric Reliability Council of Texas (ERCOT) has helped overcome power supply issues over the past two months. He stated;
