Galaxy Digital's head of mining says bear market is best time to be a crypto miner

Galaxy Digital (OTCPK:BRPHF) Head of Mining Amanda Fabiano takes the contrarian view that the best time to be a crypto miner is during a bear market because prices become more attractive across the board. "Everyone wants to be a miner in a bull market, but the best time to become a miner is in a bear market because prices are reduced on everything and you can really build a strategy that lasts big time," Fabiano said Wednesday at the CoinShares Conversations event. For crypto miners, the process of turning a profit involves validating transactions on a blockchain network to then be added to a distributed ledger. Once the block is completed, miners receive crypto as a reward. That compares with some of the costs they face, namely electricity and mining machines (and the continued deployment of them). "Really good things happen in bear markets," Sue Ennis, vice president of Corporate Development