Compass Mining Energizes 4,000 Machines in Iowa, Expands Capacity by 30 Megawatts YTD

The power capacity deployed year-to-date places Compass Hashrate Under Management (HUM) to five exahashes per second, placing it among the top Bitcoin mining companies

WILMINGTON, Del., Sept. 9, 2024 /CNW/ -- Compass Mining (the "Company" or "Compass"), a leading provider of Bitcoin mining hardware, hosting, and services, today announced the successful energization of 3,000 Bitcoin mining machines at its new hosting partner site in Iowa. With an additional 1,000 machines planned for deployment in September, the Iowa site will add 12.5 MW of power to Compass' mining capacity.

This expansion builds on a strong year for Compass. The company has energized a total of approximately 30 MW of power capacity across mining facilities in Iowa, Indiana, Ohio, Nebraska, and Texas in 2024, with plans to add another 30 MW before year-end. This addition places Compass among the top mining companies in terms of new power capacity deployed for Bitcoin mining year-to-date.

"We are excited to expand with a trusted hosting provider that has shown exceptional uptime and reliability throughout 2024. This expansion aligns with our strategy of growing our self-owned infrastructure while maintaining top-tier service quality for our customers," said Paul Gosker, CEO of Compass Mining. "By offering our customers more location options, we're empowering them to make informed decisions based on factors like curtailment risks and power market dynamics. We're excited to deploy additional machines at similar reliable sites to help our customers meet their hashrate goals."

Approximately 1,600 unique customers already have their machines operational at the new Iowa facility. Customers can now choose "Iowa 3" as their preferred deployment location when purchasing new mining machines from Compass. This aligns with Compass's commitment to providing customers with increased optionality by expanding into diverse geographic regions and power markets.

About Compass Mining

Compass Mining is a customer-first company that provides a platform for individuals and businesses to purchase Bitcoin mining hardware, host machines, build and manage mining facilities, and access a range of ancillary services. With a commitment to exceptional customer support and transparency, Compass Mining sets the benchmark for bitcoin mining hosting. Its mission is to make Bitcoin mining accessible to everyone. To learn more about Compass Mining or to start mining today, visit compassmining.io.

SOURCE Compass Mining

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