RE:RE:RE:Quarterly report is on SedarSorry did not go through the whole report before commenting. Always reveiw the notes in the financials.
It ain't looking too good.....
During the second quarter of fiscal 2020 and subsequently, Bitcoin market conditions for miners worsened as coin prices declined while mining difficulty and network hash rates increased, reaching a record high. This combination resulted in the Company’s cloud mining operations, which operate on a fixed cost basis, becoming unprofitable. As a result, the Company has suspended 200 PH/s of its cloud mining capacity at the beginning of October. It is currently reviewing various factors, including market conditions and the halving of Bitcoin rewards anticipated to occur in May 2020 and it’s anticipated impact on legacy ASIC miners, and reviewing its options for this cloud mining capacity as well as its plans for its other 100 PH/s of cloud mining capacity, the initial contractual term of which expires at the end of calendar 2019.