ChainCatcher news, Bitcoin mining company Compass Mining announced the addition of a 25 megawatt Bitcoin mining facility in Texas. The facility has been fully constructed and will be operational by the end of the year, with an initial capacity of 5 megawatts, expanding to 25 megawatts by early January 2025. Compass also plans to increase the facility's capacity to 60 megawatts before the third quarter of 2025.The new facility will accommodate mining machines relocated from Compass's existing sites as well as newly deployed equipment. By January 2025, new customers purchasing mining machines through the Compass platform will have the option to deploy at the "Texas 6" site.

ChainCatcher news, mining company Compass Mining has activated 3,000 Bitcoin mining machines at its newly partnered facility in Iowa, and the company plans to install an additional 1,000 machines in September. This expansion will increase the facility's capacity by 12.5 megawatts (MW).According to Compass Mining, this initiative is part of its strategy to expand operations. By the end of 2024, the company plans to manage approximately 30 megawatts of power across multiple locations in the United States, including Indiana, Ohio, Nebraska, and Texas.

ChainCatcher news, alternative finance investment company Pipe announced that three co-founders, co-CEO Harry Hurst, co-CEO Josh Mangel, and CTO Zain Allarakhia, will resign from their executive positions.Previously, it was reported that the company provided loans of up to $80 million to several crypto mining companies, and some of these companies have already gone bankrupt, forcing them to write down this amount. A spokesperson for Pipe clarified that no $80 million loan was issued, nor was there any write-down of related receivables, but confirmed that Pipe is indeed providing financing channels for crypto mining hosting companies. However, the spokesperson declined to disclose information about financial losses and the names of cooperating mining companies, citing "not sharing financial data" as the reason.In addition, Pipe was valued at $2 billion in a round of financing last year. The company previously established a partnership with Compass Mining, which is currently facing financial difficulties. (Forbes)