Compass Mining, a leading provider of Bitcoin mining hardware and hosting solutions, has unveiled a new 25-megawatt (MW) Bitcoin mining facility in Texas. This expansion is part of the company's broader strategy to scale its North American operations, with plans to further increase capacity to 60 MW by Q3 2025.
Key Highlights of the Expansion
- Initial Capacity: The facility will launch with 5 MW operational by the end of 2024, scaling to 25 MW by early January 2025.
- Future Growth: Compass plans to expand the site's capacity to 60 MW by Q3 2025.
- Machine Deployment: The facility will host a mix of relocated and newly deployed mining hardware, ensuring seamless transitions for existing customers and new clients.
Strategic Vision and Execution
Paul Gosker, CEO of Compass Mining, emphasized the company's commitment to accessibility and reliability in Bitcoin mining:
"Our new Texas facility marks another step forward in democratizing Bitcoin mining. With our deep expertise in Texas grid dynamics and local resources, we ensure high uptime and operational excellence for our customers."
Dual Approach to Hosting
Compass Mining employs a hybrid strategy:
- Proprietary Facilities: Owned and operated sites, such as the recently launched Iowa 4 location, provide vertical integration.
- Partner Facilities: Collaborations with third-party sites known for reliability and uptime.
This model ensures flexibility while maintaining high standards for hosting services.
Broader Expansion Efforts
In 2024, Compass Mining has energized approximately 50 MW of power capacity across six states:
- Indiana
- Iowa
- Ohio
- Kentucky
- Nebraska
- Texas
An additional 35 MW is slated to come online by January 2025, further solidifying the company's footprint in the Bitcoin mining industry.
👉 Explore Bitcoin mining opportunities with Compass Mining
About Compass Mining
Compass Mining offers a platform for individuals and businesses to purchase Bitcoin mining hardware, host machines, and manage mining operations. With a focus on transparency and customer support, the company aims to make Bitcoin mining accessible to all.
FAQ Section
Q: When will the new Texas facility be fully operational?
A: The facility will scale to 25 MW by January 2025, with further expansion to 60 MW planned for Q3 2025.
Q: What types of mining hardware will be deployed at the Texas site?
A: A mix of relocated machines from existing Compass sites and newly deployed units.
Q: How does Compass Mining ensure reliability at its facilities?
A: Through a combination of proprietary expertise, local resource optimization, and partnerships with high-uptime third-party facilities.
Q: Can new customers deploy machines at the Texas site?
A: Yes, starting January 2025, new customers can opt to deploy hardware at the "Texas 6" location.