Compass Mining and Red Jar Digital signs pact to boost Bitcoin Mining in Canada

Compass Mining has agreed to a 140-megawatt capacity deal with Red Jar Digital infrastructure to boost bitcoin mining in Canada.

The mega facility power generation facility will be located in Ontario and significantly increase Compass’ current power generation capacity of 30MW.

“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,” Compass Mining CEO Whit Gibbs said.

Gibbs added that the installation would allow the cloud mining service provider to host a “greater number of ASICs” and offer better mining services to their clients. 

The facility will begin full-scale online operations by the end of January 2022. 

NEXT: Philadelphia 76ers set to launch Legacy NFT Collection on Crypto.com

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

Check Also


Goldman Sachs Offers Its First Bitcoin-Backed Loan

Wall Street banking giant Goldman Sachs has announced its first-ever lending facility that has been …

Leave a Reply

Your email address will not be published.