Compass Mining management resigns

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Bitcoin mining equipment and services provider Compass Mining has announced the resignations of CEO Whitt Gibbs and CFO Jody Fisher.

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“Compass Mining was created to make mining easy and affordable. We acknowledge that there have been numerous setbacks and disappointments that have detracted from this goal.

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Supplier representatives emphasized that the restructuring will allow Compass Mining to “completely focus” on fulfilling the “mission of providing best-in-class services to miners.”

The Board of Directors appointed CTO Paul Gosker and Head of Mining Thomas Heller as interim co-presidents and CEOs.

Earlier, hosting provider Dynamics Mining terminated an agreement with Compass Mining due to unpaid invoices for a facility in Maine.

According to CoinDesk, June 24, the supplier closed the channel in Discord. According to some users, Compass Mining took this step to prevent them from sharing information and complaints.

Gibbs, who was CEO at the time, told the publication that the company “had problems communicating with its clientele,” and the Discord solution is aimed at improving the workflow.

“A lot of things are very poorly managed and executed, which gives people the impression that they are questionable,” a former employee of Compass Mining, who wished to remain anonymous, told CoinDesk.

In 2021, Gibbs revealed that JPMorgan Chase had closed the company’s accounts. According to him, this did not affect further work.

In September, the provider launched the solution for mining the first cryptocurrency at home.

In April 2022, Compass Mining began looking for buyers for equipment located in the Russian Federation after US sanctions imposed on BitRiver.

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Source: Cryptocurrency

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