{"id":13427,"date":"2021-11-02T12:00:00","date_gmt":"2021-11-02T12:00:00","guid":{"rendered":"http:\/\/ci029131cc100025e7"},"modified":"2021-11-02T12:00:00","modified_gmt":"2021-11-02T12:00:00","slug":"compass-mining-partner-red-jar-digital-infrastructure-bitcoin-mining","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/compass-mining-partner-red-jar-digital-infrastructure-bitcoin-mining","title":{"rendered":"Compass Mining Partners With Red Jar Digital Infrastructure To Pioneer Bitcoin Mining In Ontario, Canada"},"content":{"rendered":"
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Compass Mining, the one-stop-shopping online bitcoin mining<\/a> and hosting service announced today that it is adding 140 megawatts (MW) to its current 30MW capacity.<\/p>\n

Compass<\/a> is partnering with Red Jar Digital Infrastructure<\/a> to host a new mega facility in Ontario, Canada to provide Compass miners with what the announcement says is \u201cmarking the largest amount of power ever allocated for the company\u2019s miners at a single facility\u201d.<\/p>\n

\u201cMore than doubling our current capacity with this newest deal is a big step forward in Compass Mining\u2019s business model to provide retail bitcoin miners with the ability to compete at an institutional level,\u201d said Compass Mining<\/a> CEO Whit Gibbs. \u201cWe are excited to take advantage of the larger capacity and host an exponentially greater number of ASICs, better serving our customers\u2019 desires to mine bitcoin while reducing their overall impact on the environment.\u201d<\/p>\n

Compass has expanded to include sites in the US, Russia, and Kazakhstan in the last year. However, Ontario is a first for Compass Mining which already has facilities<\/a> in the Canadian provinces of Alberta, Quebec, Manitoba, New Brunswick, and Newfoundland.<\/p>\n

Cambridge Center for Alternative Finance has the hashrate for all of Canada at 3% but Luxor Technologies that studies hash rates estimates<\/a> that Canada\u2019s is more like 7.8%. At this point, Ontario\u2019s hashrate isn\u2019t a factor but cheap power and a business friendly government may change that.<\/p>\n

In this deal with RJDI, Compass will help to \u201cmanage the site buildout, train onsite staff, and provide ongoing operational oversight for the new facility\u201d according to the announcement.<\/p>\n

Partnering With Red Jar Digital Infrastructure <\/h2>\n

The new Ontario facility will be jointly managed by Compass and Red Jar Digital Infrastructure (RJDI), a first for both companies. Based in Oakville, Ontario RJDI says on its website:<\/p>\n

\u201cWe are successful entrepreneurs, corporate finance experts, deal makers and operators who want to partner with people that we like and trust to help them build great companies \u2014<\/em> and have some fun along the way.\u201d<\/p>\n

The company founded and manages Spark Power<\/a> which has 35 facilities in North America including a number in Ontario \u2014<\/em> Oakville, Brampton, Mississauga, Hamilton, and Toronto.<\/p>\n

In the announcement today, Ron Dizy, CEO of RJDI, said:<\/p>\n

\u201cOur deep knowledge and experience in managing complex electrical projects and understanding of the intricacies of tariff structures across Canada complements Compass Mining\u2019s expertise in ASIC sourcing and hosting. We are delighted to partner with them on the development of our first bitcoin mining facility.\u201d<\/p>\n

\u201cWe look forward to developing additional sites and utilizing Ontario\u2019s competitive power rates and numerous sources of clean energy,\u201d he added.<\/p>\n

Focus On Green Mining<\/h2>\n

Both Compass and RJDI are committed to sustainable, environmentally sound energy and this facility will be 95% clean energy according to the announcement.<\/p>\n

\u201cThis facility is powered mostly by nuclear and hydro. Right now most companies are offering between 8-12 cents per kilowatt hour to retail miners. This site will allow us to provide rates well below those offered elsewhere,\u201d Gibbs told Bitcoin Magazine <\/em>in an interview.<\/p>\n

Recently Compass Mining signed a 20-year partnership agreement<\/a> with California-based power company Oklo to launch an advanced fission powered bitcoin facility.<\/p>\n

The first ASICs in the new facility are set to come online by the end of January 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"

Compass Mining partners with Red Jar Digital Infrastructure to pioneer Bitcoin mining in Ontario, Canada.<\/p>\n","protected":false},"author":2916,"featured_media":13428,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[189,1528,2641],"class_list":{"0":"post-13427","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-bitcoin-mining","9":"tag-canada","10":"tag-compass-mining"},"author_data":{"id":2916,"name":"Jessie Willms","nicename":"jessie-willms","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/34e39b2d2b80d0f1b4eaf183ca23eff71d1e903536d749658f27936a80197dee?s=96&d=robohash&r=g"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/compass-cmyk_emblem-black.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/13427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2916"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=13427"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/13427\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/13428"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=13427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=13427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=13427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}