SBF denies FTX is eyeing distressed crypto mining companies

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Sam Bankman-Fried has dampened rumors that FTX is on the lookout for distressed mining companies to buy, clarifying on Twitter that they “*aren’t* really looking into the space.”

Bankman-Fried also stated during the interview that crypto miners had no fit into the company’s core strategy and that he saw no synergy from an acquisition standpoint.

“From a strategic perspective, there's no particular obvious synergy necessarily from an acquisition standpoint,” he added.Bankman-Fried was asked whether he was looking into mining firms amid a falling crypto market that has seen Bitcoin mining revenues fall sharply this year.

 

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