CleanSpark Inc (NASDAQ:CLSK) executive chairman Matthew Schultz says the recent downturn in the crypto market has resulted in unprecedented opportunities, allowing the company to boost its capacity with the acquisition of additional machines.
In its second bulk purchase in about a month, the company has acquired 1,061 Whatsminer M30S machines that are already mining bitcoin at Coinmint's renewable-powered co-location facility.
"Based on our strategy and our approach, what this has really created is tremendous opportunity ... buying rigs at literally 25c on the dollar from what we were seeing 90 or 120 days ago," Schultz told Proactive. "It reaps huge rewards for our shareholders once the market stabilizes."