2 years ago
Compass Mining is simply a Bitcoin (BTC) hosting institution offering managed mining services to Bitcoin miners. Customers tin acquisition ASIC miners from the Compass website and person them installed astatine 1 of respective locations.
One specified installation is owned by Dynamics Mining which contiguous released a announcement stating that its “facility hosting statement successful Maine was terminated… for nonaccomplishment to wage power consumption charges.”
The charges allegedly came to $1.2 million, of which conscionable implicit fractional has been paid implicit the past 6 months.
The installation is successful Maine, a authorities with the highest electricity outgo successful North America. The expenditure could beryllium a origin successful Compass Mining’s inability to pay. However, the installation successful question claims to beryllium 100% renewable and carbon-neutral truthful it is imaginable that section energy costs are not arsenic applicable successful this case.
CryptoSlate reached retired to Compass Mining for remark but they replied that they “cannot astatine this time.” One Twitter idiosyncratic reported that Compass Mining’s Discord server has been decommissioned pursuing the news. Whether immoderate of Compass Mining’s different facilities are affected by its inability to wage vigor costs is presently unknown. Neither is the destiny of customers Bitcoin miners. The presumption of the hosting agreement with Compass Mining reads,
“In the lawsuit of an emergency, arsenic determined successful Compass’ oregon Hosting Facility’s tenable discretion, Compass and/or Hosting Facility whitethorn rearrange, remove, oregon relocate Customer Hardware without immoderate liability to Compass.”
The hardware statement besides contains a class-action clause meaning that should customers privation to record a suit against Compass Mining they volition person to bash truthful individually astatine large idiosyncratic cost. There are astir 12MW of disposable hashrate astatine the Maine installation pursuing the shutdown of Compass Mining.
At the extremity of a hosting term, customers person the enactment to “have your miner shipped straight to you” according to the website.
Miners who person an ASIC instrumentality situated successful Maine whitethorn present request to put shipping to get their instrumentality backmost unless an statement tin beryllium made betwixt Compass Mining and Dynamics Mining.
The station Bitcoin mining institution Compass Mining loses installation for not paying energy bill appeared archetypal connected CryptoSlate.
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