I may have said this before, and I don't have any info to support it, but I suspect the lcckdowns of 2020 put a real dent in the original business model. Given the nature of that model and the fact that crypto was going strong, I think CLSK saw a reasonable way to keep the revenue stream going through mining. Given that bitcoin didn't turn out to be a hedge against inflation like everyone thought it might be and that crypto prices started tracking with equities, the bear market really affected bitcoin's price. Also, the FTX fiasco has been a boat anchor as well.
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