Tag: compass mining

Sep 23 2022

Bitcoin mining firm Compute North files for bankruptcy, CEO resigns

Bitcoin (BTC) mining data center operator Compute North filed for Chapter 11 Bankruptcy, adding that CEO Dave Perrill resigned earlier in September. The firm reportedly owes $500 million to about 200 creditors and has assets valued between $100 and $500 million. Compute North...

Jul 22 2022

Compass Mining adds 25,000 ASIC miners after worker cutbacks

Jul 22 2022 Published at Coinscreed under tags  compass mining news

Compass mining, a Bitcoin mining company aims to grow its fleet of mining machines after layoffs and executive wage cuts. Compass Mining has disclosed expansion ambitions in the form of a 75 megawatt (MW) hosting agreement with Compute North for its data center in Granbury, Texas, just weeks after announcing worker layoffs and wage reductions. […] The post...

Jun 29 2022

Compass Mining denies allegations of $1.2M unpaid electricity bill, CEO, CFO resign

Jun 29 2022 Published at CryptoSlate under tags  compass mining mining

Compass Mining, a hosting company offering managed mining services to Bitcoin (BTC) miners, announced that both its CEO and CFO have resigned. The company said it has gone through "multiple setbacks and dissapointments" that have...

Jun 28 2022

Bitcoin Mining Facility Shut Down Following Sharp Decline In Miner Profitability

Bitcoin mining has been seeing a decline in profitability in recent times. This comes as no surprise given the drop in the value of the token and since profitability largely depends on what price BTC is trading at, it has led to a decline in cash flow. As the ripple effects of the market crash become apparent, the first victims of the decline...

Jan 04 2022

Compass Mining’s New Operations Manager On Home Bitcoin Mining, Power Agreements And S9 Leasing

The new mining operations manager for Compass Mining discusses his experience, offers tips for mining at home and predicts the industry’s future.This piece is part of a series that interviews Bitcoin miners about their experiences setting up and scaling mining operations as well as their view on the direction of the mining world. If you are mining Bitcoin and want to share...

Nov 12 2021

Compass Mining Announces New Service For Trading Used ASICs

Compass Mining is launching a sales platform for individual miners where anyone can register as a vendor to buy and sell used ASICs.One of the fastest- growing trends in the bitcoin mining world today is the increasing demand for retail ASICs for home mining, taking Bitcoin full circle from where it all began.While big industrial mining companies like Atlas, Compute North, Hut8,...

Nov 02 2021

Compass Mining Doubles Its Capacity With New Venture In Ontario

Compass Mining partners with Red Jar Digital Infrastructure to pioneer Bitcoin mining in Ontario, Canada.Compass Mining, the one-stop-shopping online bitcoin mining and hosting service announced today it is doubling its capacity by 140MW to 240MW making it the largest service of its kind in the world.Compass is partnering with Red...

Oct 14 2021

Making Bitcoin Mining Accessible

Discussing Bitcoin mining accessibility for the masses with Whit Gibbs of Compass Mining.Watch This Episode On YouTubeListen To This Episode:...

Sep 21 2021

Compass Mining Launches 'At-Home' Bitcoin Mining Service

The bitcoin-first, proof-of-work mining company has launched a new service to bring bitcoin mining to U.S. households on demand.Bitcoin-first company Compass Mining announced today the launch of At-Home Mining. This direct-to- consumer service provides customers with the ability to mine bitcoin from their own homes. Clients that hire the...

Aug 10 2021

Compass Mining Sponsors Bitcoin Core Developer Jon Atack For $80,000

Through the facilitation of the Human Rights Foundation, Compass has committed to a one-year donation of $80,000 to Jon Atack.Through the Human Rights Foundation (HRF), Compass Mining has announced their newest commit to sponsor Bitcoin Core contributor, Jon Atack, with a one year donation worth $80,000. Atack began his contributions to Bitcoin Core over two years ago in March 2019, reviewing code,...

Aug 09 2021

Bitmain And The Institutionalization Of Bitcoin Mining Manufacturers

Bitmain’s path toward a public listing can tell us a lot about the institutionalization of the Bitcoin mining industry at large.It seems that the ground under Bitcoin businesses is shifting daily, first with a major shutdown and hash migration out of China, then with some wobbly prices and now with an...

Jul 29 2021

Compass Mining To Offer U.S. Clients Tax-Efficient Bitcoin Mining

U.S. Clients of Compass mining can now mine bitcoin directly into a Choice Individual Retirement Account without triggering a taxable event.U.S. clients of Compass mining can now mine bitcoin directly into a Choice Individual Retirement Account without triggering a taxable event, per a press release sent to Bitcoin Magazine. Under the current tax laws, revenue from Bitcoin mining is taxed as...

Jul 27 2021

Why Aren’t More Bitcoin Miners Setting Up Shop In Canada?

As more bitcoin miners migrate from China, they are hesitant to set up shop in Canada, despite abundant energy and a cool climate. But why?Canada seems to offer many of the advantages for successful bitcoin mining — lots of stranded renewable energy (mostly hydro), a cooler climate (which is easier on equipment) and a lower fiat currency value (more competitive than the...

Jul 14 2021

Compass Partners With Oklo For Fission-Powered Bitcoin Mining

Bitcoin mining firm Compass Mining has partnered with advanced fission company Oklo to mine bitcoin with nuclear power.Compass Mining, a bitcoin mining hardware and hosting provider, has entered a 20-year partnership with advanced fission company Oklo to mine bitcoin with nuclear power according to...

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