Compass Mining Energizes Texas Bitcoin Mining Facility
Compass Mining has activated a 10-megawatt Bitcoin mining operation in Texas, established through a collaboration with ONMINE, to strengthen its vertically integrated approach.
Compass and ONMINE Collaborate to Launch Texas-Based Bitcoin Mining Site
Under the agreement, Compass oversees daily management while implementing a joint revenue-sharing framework and sharing responsibility for electricity price risks with the property owner. The site achieved maximum output in July following a phased activation timeline. The company anticipates completing the shift to dedicated enterprise customer hosting services by October.
“This collaboration marks Compass Mining’s transformation from a hosting platform to a comprehensive mining infrastructure provider,” stated Karoon Mackenchery, the firm’s hosting services director. The framework involves overseeing electricity agreements and providing operational reliability assurances for institutional partners.
ONMINE facilitated site acquisition and connectivity to the ERCOT network, while Giga Energy delivered containerized, air-cooled data centers to streamline implementation. This setup enables Compass to provide a plug-and-play hosting service competitive within ERCOT’s energy marketplace.
Following recent developments in Iowa and West Texas, this latest project exemplifies Compass’s plan to establish a coast-to-coast infrastructure network catering to retail and corporate mining clients alike.
The company currently operates sites across multiple U.S. regions such as Indiana, Ohio, Nebraska, and North Dakota, alongside Canadian locations like Manitoba and Ontario.
The state has emerged as a favored destination for Bitcoin mining, leveraging cost-effective energy supplies dominated by renewable sources and natural gas, attractive fiscal policies, open electricity markets, and regulatory environments conducive to corporate operations.
Source: cryptonews.net
