Compass Mining has completely energised Texas’ 10-megawatt Bitcoin mining facility, developed in collaboration with Onmine, to advance its vertical integration strategy.
Texas Bitcoin Mining Facility is offered online through a compass.
This project introduces site owners and shared revenue models and risk assumptions of electricity price while controlling daily operations with compass. The facility reached full capacity in July after a gradual energyization process. Compass expects to migrate the entire site to entERPRISE client hosting by October.
“This partnership reflects the evolution of compass mining from the hosting market to full stack mining infrastructure operators,” says Karone McKencherry, director of hosting services for Compass Mining. This model includes managing power contracts and providing uptime guarantees for institutional clients.
Onmine has secured the site and its interconnections with the Ercot grid. Giga Energy has supplied air-cooled modular data centers to accelerate deployment. This arrangement allows Bitcoin Miner Compass to offer a competitive turnkey hosting solution within the ERCOT market.
The Texas site follows recent expansions in Iowa and West Texas. On Tuesday, the team said the initiative presents a Compass strategy to build a national network of enterprise-grade facilities that serve both individual and institutional miners.
The operational footprint of Compass Mining includes facilities in many states in the United States, including Indiana, Ohio, Nebraska and North Dakota, as well as in Canada such as Manitoba and Ontario.
Texas is a Bitcoin mining hotspot, especially due to its renewable energy and natural gas, support tax incentives, deregulated electricity markets, and cheap and abundant energy from the regulatory environment of professional business.
