Cryptocurrency mining hardware and hosting company Compass MiningGeorgia faces plant closures due to rising energy prices.
The company purchased 5,000 mining tools at the facility, which it may close due to rising energy prices in the state. Texaswill carry it.
Compass Mining Struggles With Rising Energy Costs
Allowing private investors to mine Compass Mining may close two of its Georgia plants due to rising energy costs. Owner of the company Dynamics Miningterminated the hosting agreement between the two, claiming that Compass did not pay the bills Maine had lost one of its centered hosting facilities. This time, a similar situation is in question for the Georgia facility.
The CEO of the company, Thomas Heller, said in his statement on the subject:
“If the local energy distributor increases prices by close to 50 percent, it will cost Bitcoin mining too much”
Heller said the Georgia site hosts about 5,000 machines, or about 15 megawatts (MW), for Compass customers. The co-CEO said the operator is home to a total of 8,000 machines, or 25 MW, for Compass.
Customers shared a screenshot of an email from Compass Mining on social media, announcing that they could move their operations to the Texas facility. CEO Heller announced that Compass will work to resolve this situation as soon as possible and will give credit to affected users.
