Compass Mining hosting sites shut down in Georgia due to 50% power spike
A Compass Mining hosting partner decided to shut down two facilities in Georgia after experiencing a 50% increase in power costs.Bitcoin mining company Compass Mining saw two of its third-party hosting facilities in Georgia shut down this week due to a 50% spike in power prices from local utility providers.
The company was informed Wednesday that the owner would close the sites, a company spokesperson said. Meanwhile, it has decided to relocate those miners to Texas in an effort"to minimize downtime."Compass Mining hosts machines from individual clients in facilities across the US and Canada. It had 15 megawatts of power capacity at the Georgia locations.
"Client units are tentatively scheduled to be back online by September 30," said an email to clients on Wednesday shared by the company."Compass Mining will issue facility credits to compensate for hosting costs and associated downtime."The Texas site was recently re-energized, according tostating that the first customer miners should be deployed by August 23.
Meanwhile, Compass is relocating 100 miners from British Columbia to its Labrador facility, also in Canada, due to its hosting partner"not maintaining performance standards at their facilities up to what Compass requires," the company said."We made the decision to relocate these miners and they will be re-installed starting next week."
In the past three months, the company has tackled a lawsuit, layoffs, and the resignation of its CEO and CFO. It
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