Bear market uncertainty is perfect time to build and learn, says Sato executive

Fanny Philip, COO of Sato Technology, doubled down on her belief that bear markets should be viewed as a builder's market for mining companies.

Decisions made by companies during bear markets play a central role in determining their longevity in the crypto ecosystem. Representing Canadian Bitcoin (BTC) mining company Sato Technologies, COO Fanny Philip revealed what it takes to survive the downtrend as the market prepares for the next bull run.

Speaking to Cointelegraph at the Surfin' Bitcoin 2022 event in France about the impact of bear markets on business, Philip said now is the time for mining companies to build and learn .

Sato is a digital asset mining company, listed on the Toronto Stock Exchange (TSXV) since September 2021 and mines both Bitcoin (BTC) and Ether (ETH).

Philip further explained to Cointelegraph the initial challenges of gaining a foothold in the industry despite entering the space during a bull market.

The high demand for miners in the Quebec operating region, where the company initially set up shop, has caused a moratorium on new mining facilities and hostile feelings from local residents. Additionally, Philip described the global pandemic as a catalyst for "electrical equipment supply difficulties".

Related: Crypto in Canada: Where Are We Now and Where Are We Going

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