• Market Cap: $1,146,316,366,130.50
  • 24h Vol: $37,893,937,987.23
  • BTC Dominance: 44.68%
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

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

Jon Hartney by Jon Hartney
July 22, 2022
in Bitcoin, Blockchain, Business, Market
0
Compass Mining to add 25,000 ASIC miners just weeks after staff cuts
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

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.

Related articles

Bitcoin Can Save California’s Largest Pension Fund From Its Existential Problems

Bitcoin Can Save California’s Largest Pension Fund From Its Existential Problems

June 8, 2023
SEC’s crypto actions surged 183% in 6 months after the FTX collapse

SEC’s crypto actions surged 183% in 6 months after the FTX collapse

June 8, 2023

It also follows the resignation of key executives including CEO Whit Gibbs and chief finance officer Jodie Fisher in late June, as well as losing one of its Maine-based hosting facilities after allegedly missing payments relating to utility bills and hosting fees.

Compass said the newest large-scale deployment will begin in August and continue for several months.

The expansion includes plans to deploy 25,000 application specific integrated circuit (ASIC) miners to the existing Wolf Hollow plant site in Granbury, including a variety of next generation Bitcoin miners.

According to Compass, the facility is state of the art and powered by a 1.1 gigawatt (GW) combined cycle natural gas fueled plant, which uses advanced gas turbine designs and air cooling to decrease carbon emissions and water dependence.

The data center also has a fully curtailable load and can shut down at a moment’s notice should the draw on the grid exceed capacity.

This adds to existing Compass facilities across the U.S, Canada and Iceland, with major operations in Texas, Ontario, New Mexico and Florida.

Crypto miners in Texas however have had a difficult month as a result of a record-breaking heatwave in the state, which has caused a strain on the energy grid.

Major Bitcoin miners have been working with the Electric Reliability Council of Texas (ERCOT) by temporarily shutting down or severely reducing their operations in the state to reduce the toll on the grid.

Crypto mining firms are still coming to Texas in droves though, attracted by less regulatory oversight and lower energy costs.

Mining stocks hit one-month high

Despite the recent heatwave impacting local mining operations, publicly listed mining stocks appear to be performing well, according to NASDAQ data.

Three of the biggest miners by market cap are all in the green as of July 22.

Related: Bitcoin mining stocks rebound sharply despite a 70% drop in BTC miners’ revenue

Marathon Digital Holdings Inc has seen a 99.85% increase in its stock price over the past month, while Riot Blockchain Inc is up 65.65% and Canaan Inc is up 42.27% over the past month.

It comes as the price of Bitcoin (BTC) has also reached a one-month high, reaching $22,938 at the time of writing.

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

Bitcoin Can Save California’s Largest Pension Fund From Its Existential Problems

Bitcoin Can Save California’s Largest Pension Fund From Its Existential Problems

by Jon Hartney
June 8, 2023
0

California’s largest pension fund has significant unfunded liabilities Operators owe it to the workforce to explore how Bitcoin can

SEC’s crypto actions surged 183% in 6 months after the FTX collapse

SEC’s crypto actions surged 183% in 6 months after the FTX collapse

by Jon Hartney
June 8, 2023
0

The regulator stepped up enforcement actions in the crypto space following the revelations that took place around FTX

SEC is killing innovation in the United States — 1inch co-founder

SEC is killing innovation in the United States — 1inch co-founder

by Jon Hartney
June 8, 2023
0

US-based Web3 companies and cryptocurrency exchanges could be pushed offshore following enforcement actions against

NFT platform Enjin forks Polkadot parachain Efinity to new mainnet

NFT platform Enjin forks Polkadot parachain Efinity to new mainnet

by Jon Hartney
June 8, 2023
0

Enjin chief technology officer Witek Radomski said the new blockchain aims to promote creativity by facilitating the

Polygon Labs president testifies on democratizing the internet with Web3, blockchains

Polygon Labs president testifies on democratizing the internet with Web3, blockchains

by Jon Hartney
June 8, 2023
0

The US House Committee explores blockchain and Web3’s future as industry leaders testify on democratizing the

Load More
  • Trending
  • Comments
  • Latest
NEXO risks 50% drop due to regulatory pressure and investor concerns

NEXO risks 50% drop due to regulatory pressure and investor concerns

September 30, 2022
51% of Ethereum blocks are now compliant with OFAC standards, raising censorship concerns

51% of Ethereum blocks are now compliant with OFAC standards, raising censorship concerns

October 14, 2022
All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

July 7, 2022
Zero-knowledge KYC could solve the privacy vs compliance conundrum: VC partner

Zero-knowledge KYC could solve the privacy vs compliance conundrum: VC partner

October 11, 2022
All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0
Crypto owners banned from working on US Government crypto policies

Crypto owners banned from working on US Government crypto policies

0
Korean startup Uprise lost $20M shorting LUNC

Korean startup Uprise lost $20M shorting LUNC

0
Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0
Bitcoin Can Save California’s Largest Pension Fund From Its Existential Problems

Bitcoin Can Save California’s Largest Pension Fund From Its Existential Problems

June 8, 2023
SEC’s crypto actions surged 183% in 6 months after the FTX collapse

SEC’s crypto actions surged 183% in 6 months after the FTX collapse

June 8, 2023
SEC is killing innovation in the United States — 1inch co-founder

SEC is killing innovation in the United States — 1inch co-founder

June 8, 2023
NFT platform Enjin forks Polkadot parachain Efinity to new mainnet

NFT platform Enjin forks Polkadot parachain Efinity to new mainnet

June 8, 2023

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • Bitcoin Can Save California’s Largest Pension Fund From Its Existential Problems June 8, 2023
  • SEC’s crypto actions surged 183% in 6 months after the FTX collapse June 8, 2023
  • SEC is killing innovation in the United States — 1inch co-founder June 8, 2023
  • NFT platform Enjin forks Polkadot parachain Efinity to new mainnet June 8, 2023
  • Polygon Labs president testifies on democratizing the internet with Web3, blockchains June 8, 2023

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • bitcoinBitcoin(BTC)$26,417.00-1.48%
  • ethereumEthereum(ETH)$1,843.65-1.16%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.08%
  • binancecoinBNB(BNB)$264.47-3.14%
  • usd-coinUSD Coin(USDC)$1.00-0.01%
  • rippleXRP(XRP)$0.52-2.22%
  • staked-etherLido Staked Ether(STETH)$1,841.52-1.09%
  • cardanoCardano(ADA)$0.327406-3.18%
  • dogecoinDogecoin(DOGE)$0.068076-0.09%
  • solanaSolana(SOL)$18.78-5.26%
  • matic-networkPolygon(MATIC)$0.78-1.94%
  • tronTRON(TRX)$0.0775430.29%
  • litecoinLitecoin(LTC)$87.93-2.44%
  • polkadotPolkadot(DOT)$5.01-2.21%
  • binance-usdBinance USD(BUSD)$1.000.09%
  • avalanche-2Avalanche(AVAX)$13.91-3.51%
  • shiba-inuShiba Inu(SHIB)$0.000008-0.59%
  • daiDai(DAI)$1.00-0.04%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,509.00-1.20%
  • uniswapUniswap(UNI)$4.63-1.36%
  • leo-tokenLEO Token(LEO)$3.520.26%
  • chainlinkChainlink(LINK)$5.99-1.51%
  • cosmosCosmos Hub(ATOM)$9.58-3.51%
  • okbOKB(OKB)$44.46-2.06%
  • moneroMonero(XMR)$144.35-0.93%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.11%
  • ToncoinToncoin(TON)$1.65-0.21%
  • ethereum-classicEthereum Classic(ETC)$16.99-1.36%
  • stellarStellar(XLM)$0.087159-1.64%
  • bitcoin-cashBitcoin Cash(BCH)$111.79-0.57%
  • true-usdTrueUSD(TUSD)$1.00-0.06%
  • lido-daoLido DAO(LDO)$2.18-8.42%
  • internet-computerInternet Computer(ICP)$4.16-3.53%
  • filecoinFilecoin(FIL)$4.12-4.10%
  • quant-networkQuant(QNT)$111.21-4.22%
  • crypto-com-chainCronos(CRO)$0.059429-0.43%
  • AptosAptos(APT)$7.73-3.45%
  • hedera-hashgraphHedera(HBAR)$0.048447-1.81%
  • GGTKNGGTKN(GGTKN)$0.1121180.75%
  • ArbitrumArbitrum(ARB)$1.13-2.58%
  • vechainVeChain(VET)$0.017833-3.47%
  • nearNEAR Protocol(NEAR)$1.41-3.86%
  • apecoinApeCoin(APE)$2.91-1.98%
  • the-graphThe Graph(GRT)$0.114126-1.47%
  • paxos-standardPax Dollar(USDP)$1.00-0.06%
  • fraxFrax(FRAX)$1.00-0.08%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%
  • eosEOS(EOS)$0.890.88%
  • rocket-poolRocket Pool(RPL)$47.47-1.79%
  • the-sandboxThe Sandbox(SAND)$0.487890-4.28%
  • algorandAlgorand(ALGO)$0.124900-5.91%
  • blockstackStacks(STX)$0.641.48%
  • elrond-erd-2MultiversX(EGLD)$34.96-3.03%
  • optimismOptimism(OP)$1.38-2.30%
  • Rocket Pool ETHRocket Pool ETH(RETH)$1,981.03-1.14%
  • aaveAave(AAVE)$59.77-2.03%
  • fantomFantom(FTM)$0.293119-2.13%
  • render-tokenRender(RNDR)$2.22-3.94%
  • tezosTezos(XTZ)$0.84-3.89%
  • decentralandDecentraland(MANA)$0.417941-5.29%
  • theta-tokenTheta Network(THETA)$0.76-1.31%
  • usddUSDD(USDD)$1.000.09%
  • immutable-xImmutableX(IMX)$0.72-0.38%
  • axie-infinityAxie Infinity(AXS)$6.24-4.65%
  • BitDAOBitDAO(BIT)$0.482989-1.82%
  • WhiteBIT TokenWhiteBIT Token(WBT)$4.820.09%
  • radixRadix(XRD)$0.067060-1.49%
  • havvenSynthetix Network(SNX)$2.13-4.07%
  • Bitget TokenBitget Token(BGB)$0.4825211.25%
  • kucoin-sharesKuCoin(KCS)$6.85-3.03%
  • flowFlow(FLOW)$0.63-3.86%
  • neoNEO(NEO)$9.00-2.88%
  • galaGALA(GALA)$0.026055-2.16%
  • curve-dao-tokenCurve DAO(CRV)$0.76-2.55%
  • CloutContractsCloutContracts(CCS)$52.461,000.00%
  • bitcoin-cash-svBitcoin SV(BSV)$30.28-1.18%
  • terra-lunaTerra Luna Classic(LUNC)$0.0000991.94%
  • gemini-dollarGemini Dollar(GUSD)$1.00-0.17%
  • makerMaker(MKR)$629.590.18%
  • gatechain-tokenGate(GT)$4.06-1.95%
  • injective-protocolInjective(INJ)$6.93-3.44%
  • kavaKava(KAVA)$0.99-11.05%
  • klay-tokenKlaytn(KLAY)$0.164336-7.44%
  • marumaruNFTmarumaruNFT(MARU)$0.24991121.40%
  • bittorrentBitTorrent(BTT)$0.0000010.31%
  • iotaIOTA(MIOTA)$0.180107-1.80%
  • pax-goldPAX Gold(PAXG)$1,920.53-0.54%
  • Tokenize XchangeTokenize Xchange(TKX)$6.14-3.17%
  • casper-networkCasper Network(CSPR)$0.044045-0.46%
  • compound-ethercETH(CETH)$37.04-1.17%
  • tether-goldTether Gold(XAUT)$1,946.36-0.72%
  • conflux-tokenConflux(CFX)$0.228311-4.71%
  • xdce-crowd-saleXDC Network(XDC)$0.0345792.19%
  • chilizChiliz(CHZ)$0.087628-4.12%
  • huobi-tokenHuobi(HT)$2.85-0.95%
  • binaryxBinaryX(BNX)$165.90-5.97%
  • PepePepe(PEPE)$0.000001-3.82%
  • mina-protocolMina Protocol(MINA)$0.491925-2.32%
  • gmxGMX(GMX)$51.20-2.92%