Compass Mining has fully energized a ten-megawatt bitcoin mining facility in Texas, developed in partnership with ONMINE, to advance its vertical integration strategy.
Texas Bitcoin Mining Facility Comes Online Through Compass, ONMINE Deal
The project places Compass in control of day-to-day operations while introducing a shared revenue model and power-pricing risk assumption with the site owner. The facility reached full capacity in July after a staged energization process. Compass expects to transition the entire site to enterprise client hosting by October.
“This partnership reflects Compass Mining’s evolution from a hosting marketplace into a full-stack mining infrastructure operator,” said Karoon Mackenchery, Compass Mining’s director of hosting services. The model includes managing power contracts and offering uptime guarantees to institutional clients.
ONMINE secured the site and its interconnection to the ERCOT grid. Giga Energy supplied air-cooled modular data centers to accelerate deployment. The arrangement allows the bitcoin miner Compass to offer a competitive, turnkey hosting solution within the ERCOT market.
This Texas site follows recent expansions in Iowa and West Texas. On Tuesday, the team said the initiative illustrates Compass’s strategy to build a nationwide network of enterprise-grade facilities serving both individual and institutional miners.
Compass Mining’s operational footprint includes facilities in numerous U.S. states, like Indiana, Ohio, Nebraska, and North Dakota, as well as Canadian provinces, including Manitoba and Ontario.
Texas is a bitcoin mining hot spot due to its cheap, abundant energy, especially from renewables and natural gas, supportive tax incentives, deregulated power markets, and a pro-business regulatory climate.
