In an email on Friday, Walsh said diversification is a key to his business.

“We built HyperBlock to weather the volatility and pressures of the crypto market because we believe in the long-term promise of the technology,” he wrote.

It’s not easy in a “very competitive” business, he said.

“The prolonged downturn in crypto pricing is putting many crypto miners out of business, which is why we tend to be a little cautious and protective when it comes to talking about our business,” Walsh said.

HyperBlock recently launched Hypervault, a “fully insured custodial solution” for cryptocurrency. The company reached an agreement with a Caribbean-based bank to use Hypervault to secure crypto assets, giving investors a measure of comfort against market downturns and imminent government regulations.

Bitcoin is the major player, but not the only cryptocurrency the Bonner plant mines. But others are faring even worse: Ethereum’s “ethers” were bobbing just above $80 on Friday. They were worth more than $1,400 in January.

Bitcoin has another anniversary coming up.