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5.12%Compass Mining Signs New 140MW Capacity Deal With Red Jar Digital
Compass will power the new Canadian facility with 95% clean energy.
By Aoyon Ashraf
Updated May 11, 2023, 4:00 p.m. Published Nov 2, 2021, 12:20 p.m.
Compass Mining, the bitcoin mining service provider, signed a new 140 megawatt hosting deal with Canada’s Red Jar Digital, adding to Compass’s current 30MW capacity.
The facility will be located in Ontario, Canada, and will be jointly managed. “More than doubling our current capacity with this newest 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 Compass Mining CEO Whit Gibbs.
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Compass will help manage the site buildout, train the onsite staff and provide operational oversight for the facility. The miners at the site will be ASICs, or dedicated bitcoin mining computers, and will come online by the end of January 2022.
Read more: Want to Mine Bitcoin at Home? Compass Now Sells Single ASICS
Aoyon Ashraf
Aoyon Ashraf is CoinDesk's Head of Americas. He spent almost a decade at Bloomberg covering equities, commodities and tech. Prior to that, he spent several years on the sellside, financing small-cap companies. Aoyon graduated from University of Toronto with a degree in mining engineering. He holds ETH and BTC, as well as ADA, SOL, ATOM and some other altcoins that are below CoinDesk's disclosure threshold of $1,000.
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