Bitcoin mining company Compass Mining loses facility for not paying electricity bill
Compass Mining is a Bitcoin (BTC) hosting company that provides managed mining services to Bitcoin miners. Customers can purchase an ASIC miner from the Compass website and install it in one of several locations.
One such facility is owned by Dynamics Mining today. release “Notice that the facility hosting contract in Maine has expired … due to failure to pay power consumption price. “
Bills have reportedly reached $ 1.2 million, more than half of which have been paid in the last six months.
The facility is located in Maine, the state with the highest electricity prices in North America. Spending can be a factor that compass mining cannot pay. However, the facility in question claims to be 100% renewable and carbon-neutral, so in this case the local electricity costs may not apply as much.
CryptoSlate asked Compass Mining for comment, but said, “I can’t do it at this time.”One Twitter user has a Compass Mining Discord server Obsolete Following the news. It is currently unknown whether any of the other compass mining facilities will be affected by the inability to pay energy costs. So is the fate of the customer’s Bitcoin miner.Conditions Hosting contract With compass mining reading,
“In the event of an emergency determined by the compass or the hosting facility’s reasonable discretion, the compass and / or the hosting facility may relocate, remove, or relocate your hardware without liability to the compass. I can.”
The hardware contract also includes a class action clause. This means that if a customer wishes to sue for compass mining, they will have to sue individually at their own expense. After the Compass Mining shutdown, the main facility has an available hash rate of approximately 12 MW.
According to the website, at the end of the hosting period, the customer has the option to “ship the miner directly to you”.
Miners installing ASIC machines in Maine will need to arrange transportation to retrieve the equipment unless an agreement is reached between compass mining and dynamics mining.
