White Rock Management CEO Andy Long believes bear markets “current wonderful alternatives” for growth through mergers and acquisitions within the crypto mining sector. Speaking with Cointelegraph, the crypto mining firm CEO famous that corporations who’ve managed their steadiness sheets successfully are in “great shape” throughout this bear market, and can proceed to do properly even when there’s extra volatility to come back. “The bear market has presented challenges for the miners who leveraged up at the top of the market, however, the sector has been here before, and well capitalized and efficient miners will do just fine,” he stated.Long prompt that the present bear pattern will present key merger and acquisition alternatives for such corporations, as they’ll have confirmed to buyers that they’ll survive excessive market situations: “Bear markets actually present excellent opportunities, so we expect to see M&A and consolidation activity in the mining sector involving both public and private players — to realize economies of scale and combine complementary operations.” “We’ll also see network growth picking up again, not to the level forecasted at the end of the year, but we’ll likely be at least 20% higher by year-end,” he added. Long additionally famous that the Texas mining sector has achieved properly regardless of the continued heatwave. He famous the sector’s efficient coordination with the Electric Reliability Council of Texas (ERCOT) to beat power provide points over the previous couple of months: “There’s a ton of activity in Texas and the mining sector is in great shape. Grid-connected miners are working with ERCOT to provide demand response during challenging weather, and we see continued growth ahead across the state.”White Rock is a crypto mining agency based mostly out of Switzerland, that claims to have round 24 MegaWatts price of plant capability put in. In June introduced plans to broaden its operations to the U.S., beginning with Texas. As a part of the transfer, White Rock partnered with Natural Gas Onsite Neutralization (NGON) to function out of its facility which makes use of “environmentally responsible” strategies to mine Bitcoin (BTC). Heat waves As beforehand reported on July 11, mining companies equivalent to Riot Blockchain and Core Scientific powered down elements of their Texas mining operations in June to cut back stress on the power grid following temperatures rising properly over 100 levels. Both f have been proactive in easing the strain on Texas’ power provide, however one other contributing issue was that power costs had soared amid the warmth wave. Related: Will the Bitcoin mining business collapse? Analysts clarify why disaster is absolutely alternativeAs a results of the transfer, the companies suffered lowered mining productiveness. However, with the value of BTC gaining 14.7% over the previous month, and with temperatures trying set to drop barely to across the 90-degree mark, there’s a feeling that miners can be switching their machines again on because the BTC mining profitability can be too good to disregard. “The Bitcoin price increase has led to increased profitability for miners and some miners who were pushed offline in June and July have likely plugged in their machines again,” famous Jaran Mellerud, a crypto-mining analyst at a analysis agency Arcane Crypto, in an interview with Bloomberg on Aug. 5. The worth of Bitcoin is sitting at $23,088 on the time of writing. 

• Felecia Davis
• August 5, 2022

White Rock Management CEO Andy Long believes bear markets “current wonderful alternatives” for growth through mergers and acquisitions within the crypto mining sector. Speaking with Cointelegraph, the crypto mining firm CEO famous that corporations who’ve…