Compass to Colocate 10 MW of Bitcoin Miners with Cathedra
Compass will share the Bitcoin mining profit with Cathedra
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Compass Mining has entered into a hosting agreement with Cathedra Bitcoin to colocate 10 megawatts (MW) of miners at one of Cathedra’s sites in Kentucky.
On Monday, Compass said that this colocation will enhance its ability to provide improved services and operational stability for its customers. The company brokers Bitcoin mining hardware for consumers and offers hosting capabilities to power customers’ equipment through its infrastructure partners.
Under the colocation agreement, Compass said it would oversee the mining operations at the Kentucky site, manage pass-through power costs, and share Bitcoin mining profits with Cathedra.
This partnership with Cathedra follows Compass’ recent expansions in Iowa and Nebraska. So far this year, the company has energized nearly 50 MW of power capacity through collaborations in Indiana, Iowa, Ohio, Kentucky, Nebraska, and Texas, and plans to add an additional 20 MW by the end of the year.
In July, Cathedra expanded into mining hosting after completing a merger with Kungsleden, a U.S. firm renowned for its development and operation of Bitcoin mining infrastructure, providing colocation facilities for Cathedra. Prior to the merger, Kungsleden owned approximately 30 MW of capacity in Kentucky and Tennessee and held a 25% stake in a 60 MW site under development in North Dakota.
Earlier this month, Cathedra announced that it had energized 30 MW of the total 60 MW in North Dakota and expects to energize the remaining 30 MW by the end of October.
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