Crucial moment for SPRT
Is currently in a symmetrical triangle which historically implies a volatile move. Really need to see some more volume from SPRT to give me confidence that the move will be to the upside in the short term. Nevertheless, I'm still bullish SPRT long term but I'm personally waiting trade SPRT until we break this symmetrical triangle. Really love SPRT's business model and I believe the deal to take Bitcoin miner Greenidge Generation public will turn out well for the company. Greenidge will become the only publicly-listed bitcoin mining operation with a captive power source (owns a natural gas power plant).The vertical integration makes Greenidge the lowest cost bitcoin miner with a cost to mine of $2,869/bitcoin and, at times, lets them get paid to mine by selling excess power. This has created the opportunity to buy the lowest-cost publicly-traded bitcoin miner at a fraction of peers like MARA and RIOT, which is why im a long term holder of SPRT. Let me know what you think!
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