Compass Mining, a internet hosting firm providing managed mining providers to Bitcoin (BTC) miners, introduced that each its CEO and CFO have resigned.
The corporate mentioned it has gone by “a number of setbacks and dissapointments” which have detracted from its mission. The continued restructuring will assist it regain the belief of its shareholders and customers, Compass mentioned in an announcement.
To that finish, the corporate has appointed its CTO Paul Gosker and chief mining officer Thomas Heller as interim CEOs to steer Compass by the transitional interval.
A day after asserting the resignations, Compass has additionally publicly denied allegations that it didn’t pay a $1.2 million electrical energy invoice to Dynamics Mining, a subcontractor working its mining facility in Maine. Earlier this week, Dynamics Mining launched a discover stating that it terminated the 2’s facility internet hosting settlement in Maine “for failing to pay energy consumption fees.”
The accusations sparked a community-wide debate about Compass’ potential to pay and led many to query whether or not miners who had their ASIC machines hosted at Dynamics would have the ability to get them again.
Nonetheless, Compass has denied the allegations calling the corporate’s statements on social media “utterly incorrect,” including:
“A lot of Dynamics’s statements on social media are utterly incorrect, lack any factual assist and create additional injury to Compass.”
Compass mentioned that it seems Dynamics “misunderstood” its obligations outlined within the contract, noting that the corporate had carried out all of its obligations in the direction of Dynamics.
Whereas Compass is making makes an attempt to resolve the matter with Dynamics privately, it has already filed a lawsuit in opposition to the subcontractor and included a request for expedited aid to guard its clients and their pursuits.
