Despite buying opportunities, marathon concentrates digitally on organic growth at short notice
Despite buying opportunities, marathon concentrates digitally on organic growth at short notice
Marathon Digital will probably continue to concentrate on organically tripling his hash rate by the middle of next year-before you may react to other buying meals among necessary Bitcoin miners, said CEO Fred Thiel on Tuesday.
The comments during the conference conference on the results of the company on Tuesday doubled the strategy of the manager, which block works were announced last month.
"We would prefer to buy the latest, state-of-the-art miners, use them so that we have an advantage in energy consumption ... and then drive the type of hosting agreements that fit our model," said Thiel on Tuesday. "I don't see that we will definitely consolidate the industry, but apart from this, there can be unique opportunities, and we will be open to checking things."
For example, Thiel said last month that marathon would keep an eye on cheap assets from fighting miners. For example, the mining-RIG operator could try to buy a hosting site if such a purchase is strategically useful.
Industry observers announced in the beginning of this month that the consolidation of the miners was imminent because some have reported financial pressure in the past few weeks, such as Argo Blockchain, Core Scientific and Iris Energy.
Marathon Digital recorded a net loss of around $ 75 million in the third quarter, an improvement compared to the net loss of $ 192 million in the second quarter.
The share price, which has dropped by almost 70 % since the beginning of the year, fell by about 5 % during trading hours on Tuesday. The stock fell 0.8 % in post -market trade from 5:30 p.m. ET.
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