Compass Mining to deploy 25,000 additional ASIC Miners to its Texas facility

American Bitcoin mining company Compass Mining has planned to add 25,000 new ASIC miners to its facility in Granbury, Texas.
American Bitcoin mining company Compass Mining has planned to add 25,000 new ASIC miners to its facility in Granbury, Texas.

American Bitcoin mining company Compass Mining has planned to add 25,000 new ASIC miners to its facility in Granbury, Texas. Moreover, the deployment is expected to schedule for the next month and will be supported by Compass’ partner Compute North.

Adverse situations

Notably, Compass Mining has experienced significant difficulties for a number of reasons. Last month, CFO Jodie Fisher and CEO Whit Gibbs both left their positions in an effort to win back the “goodwill of stakeholders.” Moreover, Compass Mining reportedly owes more than $500,000 in electricity bills. It was expected that the restructuring would assist the corporation in restructuring and addressing its problems.

Notably, citing the continuous fall of the cryptocurrency market, the company recently cut its workforce by 15%, as TheCinRise reported. Compass Mining “grew too quickly,” according to the new CEOs Thomas Heller and Paul Gosker, and the required changes should stabilize the working procedure.

Compass Mining is determined to improve

Despite these situations, Compass Mining announced it would increase its ASIC mining capacity by 25,000, including the most recent models of the Whatsminer M30S++, Antminer S19XP, and Antminer S19j Pro. The fresh addition concentrates on the Granbury, Texas facility and aims to increase its output by 75 megawatts (MW).

Notably, the company has joined hands with RK Mission Critical to leverage its containerized solutions to allow for scalable operations. The announcement reads:

“These high-performance mining containers are constructed under strict quality standards that make each complex procedure controlled and repeatable.”

As TheCoinRise reported, some of the leading mining firms announced their performance in June 2022. Early in July, Marathon Digital reported its Bitcoin production and mining operation updates for the previous month. Mining firm Core Scientific also revealed the updates for the same month, reporting the sale of 7,202 Bitcoin units.

In addition, UK-based Argo Blockchain reported that it mined 179 Bitcoin units in June, a major rise compared to 124 Bitcoin mined in May.