#compass mining

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 filed for bankruptcy on Sept. 22 and will continue operations as it seeks to find solutions to its liquidity problem.…

Compass Mining to add 25,000 ASIC miners just weeks after staff cuts

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.

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.

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

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 detracted from its mission. The ongoing restructuring will help it regain the trust of its shareholders and users, Compass said in an announcement. To that end, the…

Compass Mining loses facility after allegedly failing to pay power bill

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.