Compass Ming appoints two interim CEOs to revive the goodwill

Compass Ming appoints two interim CEOs to revive the goodwill

Bitcoin mining and hosting company Compass Mining has appointed two new interim CEOs after the company, Whitney Gibbs, and his Chief Finance Officer, Jodie Fisher, have resigned.

The competitive mining company-supplier of ASICS and operator of Bitcoin mining operations-announced on Tuesday that Chief Technology Officer Paul Gosker and Chief Mining Officer Thomas Heller appointed Interims-Co President and CEO.

"Through this restructuring, the company focuses entirely on regaining the benevolence of our stakeholders and the community and fulfilling our mission to offer miners of all sizes of first -class service," said Compass in A company post Monday via his website.

The Compass board will immediately start looking for a constant president and CEO and CFO, the company said. The appointments are made, since Compass was involved in a number of accusations by the hosting company Dynamics Mining because of its alleged failure to meet its power consumption fees.

Blockworks tried to contact Compass, but did not receive an answer until the time of going to press. Blockworks also spoke to an employee who rejected an opinion.

dynamics that had a contract with Compass said that the “Master Hosting Service Agreement” in Delaware, based on six late payments and three non -payments, said it was given in a Twitter Sunday.

In a -The Gordon, Fournaris & Mammarella, PA law firm, which acts on behalf of Dynamics, is accused of not paying its electricity bill and monthly hosting fees. Oxford and Lewiston, both Dynamics locations, also made no payments and violated the agreement, said the law firm.

"You only had to pay $ 250,000 for 3 months of electricity consumption," said Dynamics in A Follow-up-tweet on Monday. "Since they do not give their customers their serial numbers, I couldn't even help them. Twitter is the voice of their customer base, not the courtroom."

Compass rejected the accusations made against them, according to which Dynamics according to A Separate post late Tuesday.

"Compass has fulfilled all of its obligations from his contracts with Dynamics, including its financial obligations," said the company. Dynamics operates approximately 1 % of compass mining the contractually agreed capacity of compass.

Compass is accused of a large number of Bitcoin miners before a possible liquidation after they have received high-interest loans to finance the expenditure habits of the miners at a time when the prices remained relatively lively.

miner rely on three main areas to steer their business in the red, including a higher Bitcoin price, lower or cheaper electricity prices and access to powerful special mining rigs, which are known as ASICS (application-specific integrated circuits).

All three elements are now preparing the miners as well as their creditors and other counterparties, including mining operators and ASIC suppliers, headaches.

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The Mining Post Compass appoints two interim CEOs to revive "Goodwill" is not a financial advice.