TeraWulf, a Bitcoin mining company, is open to merging but only if it can improve its profit margins, not for the sake of expanding its empire, according to its top strategist.

This comes as the mining industry is expected to see more mergers and acquisition deals following the recent halving of Bitcoin.

"We are open to exploring growth opportunities through mergers and acquisitions, but expanding just for the sake of growth or to build an empire without considering profitability doesn't make sense," Kerri Langlais, TeraWulf's chief strategy officer, told Cointelegraph in an interview.

Unlike some other publicly-traded Bitcoin mining companies that aim to hit certain hashrate goals, TeraWulf is concentrating on growing organically at its current locations and focusing on returning value to its shareholders.

"Our success depends not just on how fast we grow, but on how wisely we invest our resources to ensure our shareholders see steady returns," Langlais explained.

"This difference is important; it helps investors tell the difference between companies that are growing profitably and those that are just expanding