Compass Mining Facility Owner Terminates Hosting Agreement Over Unpaid Bills
Compass Mining is one of the largest bitcoin mining firms that sells and hosts bitcoin mining machines. Dynamics Mining is another mining firm that owns one of Compass Mining’s facilities in Maine.
Dynamics Mining announced through Twitter that effective June 14, the hosting aagreement between Dynamics and Compass was terminated for 6 late payments and 3 non-payments.
@compass_mining all you had to was pay $250k for 3 months of power consumption. Since you don't give your clients their Serial Numbers I couldn't even help them. Twitter is the voice of your customer base, not the courtroom. ✌🏾 https://t.co/BihbrpuAmk
— DynamicsMining (@DynamicsMining) June 27, 2022
The above tweet has since been deleted, perhaps in preparation for possible litigation. Whit Gibbs, Compass Mining CEO, responded by saying they’d “fight this battle in court, not on Twitter.”
With the lows from the past few months, BTC mining was not profitable for many mining machines for some time. Reports from Arcane Research shows that public Bitcoin miners sold 100% of their May mining earnings.
