A Quick Look into this business using my trusty Simply Wall St. application and yikes this business looks terrible.

First the PE ratio is negative meaning they aren’t profitable. Thus you are paying $8 today per share for the hope of them getting profitable some day.

Normally this isn’t a problem if the business is growing at a rapid pace but the app has no data on its growth.

That 22% value you see is for the whole entire sector. It is possible you can pull this data from their annual report data but I’ll pass on that.

The debt this company is carrying is little to none. I wish they had more cash on hand but they are just about breaking even

They don’t pay a dividend.

And this ownership mix is odd. Mostly owned by public companies?

Overall it appears this is just more financial engineering. A mining business that is not doing anything great is trying to get that bitcoin pump and get free access to dollars by issuing debt and equity (which will dilute you) and buy bitcoin. Instead of running a profitable business and using excess cash to DCA into a bitcoin treasury. But if you can by spot bitcoin why buy this company? Unless you are passionate about mining I would stay far away from this company. But hey you can speculate and you might get in and make a large fiat return if the Bitcoin bull market rages and and this company just catches a random bid but it’s highly risky.