COO of Sato Technology Fanny Phillips,believes bear markets are a learning and development period for mining companies.
Stating that the decisions made by companies in bear markets play a very important role in determining their longevity in the crypto ecosystem, Philip made statements on the subject.
Sato COO Recounts How He Interprets the Bear Period
Canadian Bitcoin (BTC) mining firm Sato TechnologiesCOO Fanny Philip explained what the firm is aiming for during the bearish period as the market is waiting for the next bull period.
in france Surf Bitcoin 2022Speaking about the impact of bear markets on business during his event, Philip said that the time has come for mining companies to develop and learn.
Philip also talked about the initial difficulties in entering the industry despite entering the space during a bull market.
The company originally set up shop QuebecThe high demand for mining in the operation area had resulted in the delay of new mining facilities and reactions from local residents.
When asked about the effects of the bear market, Philip had positive thoughts about the bear market rather than negative ones. When asked if bear markets are a good thing, he replied:
“Evolve? Perfect. The bear market is a more predictable market for us.”
He also said about the relationship between BTC price, mining and purchasing mining equipment:
“When the price of Bitcoin is low, you mine more. If you have to buy equipment, the price of the equipment is also cheaper as the prices are linked to Bitcoin.”
approaching Philip. Ethereum MergeWhen asked about it, he said:
“What will happen, nobody knows. That’s why we decided to diversify our operations. Mining is our core business, but we are developing many applications on top of the Lightning Network.”
Sato is a digital asset mining company that has been trading on the Toronto Stock Exchange (TSXV) since September 2021 and has been mining both Bitcoin (BTC) and Ethereum (ETH).
