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Compass Mining signs new 140MW capacity deal

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Compass Mining, a provider of Bitcoin (BTC) mining equipment and services, has signed an agreement with the Canadian infrastructure company Red Jar Digital Infrastructure (RJDI) to build a new data center with a capacity of up to 140 megawatts (MW).

According to the press release, the company will locate in the province of Ontario. Moreover, will provide 95% with environmentally friendly electricity.

The agreement provides for joint management of the facility. As part of the deal, Compass will help the partner manage construction. In addition, train staff, and provide operational supervision of the data center. The company will be able to provide miners with best-in-class services thanks to this level of control.

Doubling current capacity

Initially, 100 MW will be reserved for Compass mining clients. The rest of the energy will be used to power the company’s own equipment for cryptocurrency mining. At the moment, the company has a total capacity of 30 MW.

“More than doubling our current capacity with this new deal is a big step forward in Compass Mining’s business model to provide retail bitcoin miners with the ability to compete at an institutional level”. Said Whit Gibbs, Compass Mining Chief Executive Officer.

Ron Dizy, CEO of Red Jar Digital Infrastructure, added that their knowledge and experience in handling complicated electrical projects. Also, understanding the complexity of tariff structures across Canada complements Compass Mining’s expertise in ASIC sourcing and hosting.

Mining Bitcoin at home

Recall that in earlier July Compass signed a cooperation with the operator of a nuclear power plant in California; providing for the allocation of 150 MW for Bitcoin mining. The advanced nuclear power plants that Oklo uses will provide Compass with not only clean and reliable energy, but also affordable energy.

Later in September, the company introduced a solution for mining at home, designed to solve the problem of a shortage of hosting places in data centers.

“We have received a significant number of ASIC requests from people who want to start mining Bitcoin at home. Many people prefer to set up a farm at home. And not wait until the racks become available in the fourth quarter of 2021 or the first quarter of 2022,” Whit Gibbs said.

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