FTX CEO Sam Bankman-Fried has denied reports that the bitcoin exchange is considering buying “troubled” cryptocurrency mining firms.

“I really don’t understand why memes about FTX and mining companies are spreading. Actually, quote, we don’t look at this area,” he explained.

I’m not really sure why the meme about FTX and mining companies spread, the real quote was that we weren’t really looking into space.

— SBF (@SBF_FTX) Jul 3, 2022

Earlier, a Twitter user wrote that Bankman-Fried is open to negotiations to acquire a digital asset mining firm. The FTX CEO said he “doesn’t really look at miners, but is happy to negotiate with any company.”

Speculation about FTX’s plans to acquire a mining company surfaced after Bloomberg published it.

In a comment to the agency, Bankman-Fried acknowledged that there is an “attractive opportunity” in this space that he doesn’t want to miss. He added that cryptocurrency mining does not fit into the main strategy of the bitcoin exchange.

On July 1, the US division of FTX signed an agreement with blockchain platform BlockFi, providing a $400 million loan for the company and a $240 million buyout option.

Recall that in June, Bankman-Fried talked about Alameda Research’s efforts to mitigate negative events in the cryptocurrency market.

In May, the head of FTX pledged to spend “billions” on buying shares in other companies.

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