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COMPASS MINING ANNOUNCES THE ADDITION OF 25,000 ASIC MINES TO ITS PORTFOLIO

American Bitcoin-mining company, Compass Mining, has revealed plans to increase the productivity of its Texas facility by 75 Megawatts by adding 25,000 ASIC miners to its current structure.

Compass Mining works as a service that deploys and hosts BTC miners on their clients’ behalf. The deployment of the 25,000 miners will be supported by Compass Mining partners, Compute North, and is scheduled to begin in August.

The Mining company has been under fire recently for many reasons. According to local sources, the company owes over half a million dollars in electricity tariffs. To restore the goodwill of stakeholders, CEO Whit Gibb and CFO Jodie Fisher stepped down from their roles.

The restructuring process was expected to reform the company and sort out its numerous issues. A few weeks later, the company laid off 15% of its workforce, citing the current crypto winter as enough reason. The new CEOs said that Compass had expanded too fast and that the necessary corrections will normalize the working process.

Amid the current restructuring, the company has announced that it will be adding 25,000 ASIC miners to its portfolio. These new miners will include the latest editions of the Antminer S19j Pro, Antminer S19XP, and Whatsminer M30S++.

It is worthy of note that the latter is classified as one of the cleanest machines of its kind as it is driven by a 1.1 gigawatt (GW) combined cycle natural gas-fueled plant. These new additions are focused on the company’s Texas facility and will increase the company’s productivity by 75 Megawatts (MW).

Featured image source: prnewswire.com

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