Compass Mining retrenches 15% of staff, execs to take major pay-cuts
Compass Mining parts ways with 15% of its workforce while senior employees and executives take major pay-cuts in the wake of the cryptocurrency downturn. Ongoing strife in the cryptocurrency space has forced Compass Mining to lay off 15% of its employees while top executives and staff take major pay-cuts.The firm announced its decision to downscale its workforce in a bid to weather difficult market conditions, just a week after the resignation of CEO Whit Gibbs and chief finance officer Jodie Fisher. Chief technology officer Paul Gosker and chief mining officer Thomas Heller have taken....
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The Bitcoin mining company plans to expand its fleet of mining devices comes on the back of staff lay-offs and executive salary cuts just weeks before. Mere weeks after announcing staff lay-offs and salary cuts, Compass Mining has unveiled expansion plans in the form of a 75 megawatt (MW) hosting partnership with Compute North for its data center in Granbury, Texas.The announcement on July 21 comes only a two weeks after the company retrenched 15% of its employees and implemented salary cuts for its top executives as a means to weather difficult market conditions. It also follows the....
The U.S.-based company Compass Mining plans to sell $30 million worth of bitcoin mining equipment that’s currently located in Siberia. The decision to sell the mining rigs follows the U.S. government sanctioning the bitcoin mining operation Bitriver and ten subsidiaries. Compass is hoping to offload 12 megawatts of capacity, according to a company executive. Compass Hopes to Sell 12 MW of Bitcoin Mining Capacity in Russia to Pay Clients According to Compass Mining’s CEO Whit Gibbs, the firm is selling $30 million in mining equipment that is currently located in Siberia.....
Compass Mining partners with Red Jar Digital Infrastructure to pioneer Bitcoin mining in Ontario, Canada.
The facility owner Dynamics Mining publicly took to Twitter to share the letter terminating its hosting agreement with Compass Mining, saying it had unpaid bills. Bitcoin (BTC) mining hardware and hosting company Compass Mining has lost one of its Maine-based hosting facilities after the owner, Dynamics Mining, terminated the hosting agreement between the two, claiming Compass failed to pay the required bills.Dynamics posted on Twitter late on June 26 a letter it sent to Compass Mining which stated as of June 14th, the hosting contract between the two was terminated. Dynamics alleged....
Compass Mining is launching a sales platform for individual miners where anyone can register as a vendor to buy and sell used ASICs.