US hosting provider terminates agreement with Compass Mining

Hosting provider Dynamics Mining terminated its agreement with Bitcoin mining hardware and service provider CompassMining due to unpaid bills. We are talking about an object in the state of Maine (USA).

The Dynamics letter says that Compass made six late payments and failed to pay three utility and hosting bills. The contract between the firms was terminated on June 14.

In subsequent communications, Dynamics clarified that Compass's power consumption was $1.2 million. The mining company only paid $415,000 and made $250,000 in the initial deposit.

“They claim that they gave money, but the funds were used to build their facilities,” the hosting company said.

The comments expressed interest in the free capacity of Dynamics with the prospect of «quick placement» devices from Marathon Digital Holdings. The hosting provider replied that it has 12 MW.

In Compass's customer service agreementhosting means that the company may «relocate equipment from time to time», subject to providing «reasonably comparable conditions». The company must notify the user about the move 10 days in advance and give him 5 days to make a decision. Compass may terminate the agreement upon 30 days' notice.

The company hosts clients' bitcoin miners and its own equipment at facilities in the US and Canada.

In September 2021, Compass launched the first home cryptocurrency mining solution.

Recall that in April the company began looking for buyers for equipment located in the Russian Federation after the US sanctions imposed on BitRiver.

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