White Rock CEO: It's time for the development of the mining industry

by in Blockchain News

White rock

According to White Rock CEO Andy Long, during the dominance of bearish sentiment in the market, companies need to focus on infrastructure development. Now there are excellent opportunities for new acquisitions and partnerships between industry participants, the expert told CoinTelegraph.

Many miners were forced to dump most of their mined bitcoins in May and June. As a result, the reserves of the pools were greatly reduced, and only in July did the miners return to the accumulation of the digital currency. Still, a market drop is nothing to worry about, Long said.

The head of the company emphasized:

The bear market created problems for miners who were leveraged at their peak. Nevertheless, everything was going well for large and efficient miners.

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During a downturn in the market, private miners and small companies can team up and work together to keep costs down.

In addition, together it is much easier to find investors who are ready to finance only those businesses in the blockchain industry that could survive during the crisis and maintain the potential for further growth, Long concluded.

He heads Swiss-based digital currency mining company White Rock. The total power of its mining equipment reaches 24 MW.