The Rise and Fall of a Bitcoin Mining Sensation

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The Rise and Fall of a Bitcoin Mining Sensation
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Even after a fallout with its own customers, Compass’ reputational damage is nothing compared with the more serious financial difficulties that many other bitcoin mining companies are facing. Via WIREDUK

It was 8:45 in the morning of June 13 when Bill Stewart, the CEO of Maine-based bitcoin mining business Dynamics Mining, received a call from one of his employees. “He's like, ‘Every machine inside of our facility in Brunswick [​​in Cumberland County, Maine] has been taken,’” Stewart says. “That's crazy. I couldn't believe it.”

A few days earlier, Dynamics had sent Compass a termination letter demanding payment, and shortly thereafter had switched the company’s machines off. Then, Compass Mining staffers had taken their equipment away from Brunswick, and they were about to enter the Lewiston plant to recover more machines. “They're trying to get inside the building,” Stewart says. “And I'm telling my brother, who runs our security, ‘Do not let them into the building.

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