Bitcoin miner CleanSpark (CLSK) said it will continue to look for growth through accretive acquisitions of mining assets, as the crypto winter continues to weigh on the industry.

"We don't feel compelled to go out and have to do M&A but obviously if we see a good deal we'll take advantage of that," said Chief Financial Officer Gary Vecchiarelli on his company's fiscal first-quarter earnings conference call on Thursday. He also thinks that if bitcoin's price doesn't get close to $40,000 heading into the next halving event, there will likely be a lot of smaller miners, particularly private companies that won't be able to access the capital markets, yielding potential opportunities for CleanSpark.