C

Compass Mining

Sells ASIC miners and provides hosting

Overview

Compass Mining provides a turnkey solution for cryptocurrency mining by selling ASIC mining hardware and offering hosted mining services. Customers buy mining machines and have them hosted in Compass Mining facilities across Minnesota, Manitoba, Nevada, Ontario, Texas and Washington, where the company handles electricity, cooling, maintenance, and redeployment. This model lets individuals and institutions participate in mining without managing the hardware themselves. The company earns revenue from hardware sales and hosting fees, plus ancillary services like machine cleaning and testing. Compass Mining differentiates itself by combining hardware procurement with full hosting and management across multiple sites, offering a scalable, hands-off mining experience rather than just selling equipment. Its goal is to simplify entry into cryptocurrency mining and provide a managed, turnkey way to run mining operations.

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About Compass Mining

Simplify's Rating
Why Compass Mining is rated
C+
Rated C on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

HardwareIndustrial & ManufacturingEnergyCrypto & Web3

Company Size

51-200

Company Stage

Seed

Total Funding

$1.7M

Headquarters

Denver, CO

Founded

2020

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What believers are saying

  • April 27, 2026 SpiderPool partnership cut pool fees to 1%, improving customer economics.
  • Compass keeps expanding capacity: Texas 8 followed a 20 MW Texas site and Wyoming launch.
  • Low Bitcoin hardware prices in February 2026 support purchases, upgrades, and hosting demand.

What critics are saying

  • August 12, 2026 Delaware County rejected Compass's Iowa rezone over noise complaints.
  • Public trust remains damaged by 2022 deposit losses, executive resignations, and stranded machines.
  • Regulatory pushback or facility shutdowns can strand customer hardware and cripple recurring hosting revenue.

What makes Compass Mining unique

  • Compass Mining bundles ASIC sales, hosting, and operations under one month-to-month platform.
  • January 28, 2026 Texas 8 added 10 MW near Odessa for 3,000 miners.
  • The company manages 160 MW across 20 facilities, giving broad geographic hosting diversification.

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Funding

Total Funding

$1.7M

Below

Industry Average

Funded Over

1 Rounds

Seed funding is usually the first official round after pre-seed, when a startup has a prototype or concept. It’s typically used to develop the product, test the market, and start building the team. Investors here are often angel investors or early-stage venture capitalists.
Seed Funding Comparison
Below Average

Industry standards

$3.3M
$1.7M
$2M
$2.3M
$3M

Benefits

  • Unlimited Paid Time Off
  • Health Insurance
  • Dental Insurance
  • Vision Insurance
  • Life Insurance
  • Disability Insurance
  • 401(k) Company Match
  • Parental Leave

Growth & Insights and Company News

6 month growth

-2%

1 year growth

0%

2 year growth

1%
U.S. Securities and Exchange Commission
Oct 25th, 2026
EDGAR Filing Documents for 0001846721-21-000002

EIN.: 852417375 | State of Incorp.: DE | Fiscal Year End: 1231Type: D/A | Act: 33 | File No.: 021-389755 | Film No.: 21686883

The Fast Mode
Jul 24th, 2026
CM Global Services unveils Project Santos: A 50-megawatt AI data center campus in texas.

CM Global Services unveils Project Santos: A 50-megawatt AI data center campus in texas. CM Global Services announced Project Santos, its plan to develop a 50-megawatt AI data center campus for a site in the ERCOT South grid zone. CMGS is a long-standing strategic partner of Compass Mining, Inc. and is a global provider of logistics, hardware sales, and infrastructure services, with a growing focus on AI infrastructure and building site development. The announcement was made by Shanon Squires, Chief Mining Officer of Compass Mining, during a panel on bitcoin mining companies diversifying into AI infrastructure at the Energy Investors Forum. CMGS intends to deliver Project Santos in two phases. The first phase, a 7-megawatt, 5 MW of IT Load Tier III facility purpose-built for AI inference workloads, is targeted for completion by the end of the first quarter of 2027. A subsequent 43-megawatt expansion, bringing the site to its fully planned 50-megawatt capacity GPU-as-a-Service for Enterprise and Neocloud Customers Project Santos is being developed as a GPU-as-a-Service (GPUaaS) platform. Rather than requiring customers to bring their own hardware, CMGS is securing NVIDIA GB300 Blackwell GPU capacity to offer directly to off-takers as dedicated, single-tenant or multi-tenant compute. The company's ideal customer profile is AI enterprise organizations seeking dedicated capacity, and CMGS is also in active discussions with neocloud providers. Project Status * Site: located in the ERCOT South grid zone * Compute: CMGS is securing NVIDIA GB300 Blackwell GPU capacity to offer as GPU-as-a-Service to off-takers * Total planned capacity: 50 megawatts, 35 MW of IT to be delivered in two phases * Phase 1: 7 megawatts, 5 MW of IT load Tier III, targeted for completion by end of Q1 * Phase 2: adding a 43-megawatt expansion, 30 MW of IT load with utility-supported expansion * Customer profile: AI enterprise companies are the ideal customer; CMGS is also in active discussions with neocloud providers Shanon Squires, Chief Mining Officer of Compass Mining This is a disciplined next step for CM Global Services, drawing upon its expertise in standing up infrastructure, while Compass Mining simultaneously continues to be the gold standard in Bitcoin mining-related services. Bitcoin mining remains the core of Compass Mining. CMGS' Project Santos reflects the power infrastructure and site development discipline CMGS built over years, and we're pursuing this initiative on our own terms. Vishnu Mackenchery, Managing Director at CMGS This is a new step forward for CMGS, as we continue building for the future. Project Santos marks our entry into AI infrastructure and inference, and we're charting our own path, moving fast to get there. Ray Sharma is an Industry Analyst and Editor at The Fast Mode. He has over 15 years of experience in mobile broadband technologies and solutions, conducting research and analysis on various technology segments and producing articles and write-ups on the latest developments within the sector. He is also in charge of social media engagement and industry liaisons. The Fast Mode 9658 likes TWEETS 28.4K FOLLOWING 3479 FOLLOWERS 13.2K

PR Newswire
Jan 28th, 2026
Compass Mining launches 10 MW Bitcoin facility in Texas for 3,000 miners

Compass Mining has launched a new 10-megawatt Bitcoin mining facility near Odessa, Texas, with capacity for approximately 3,000 customer mining machines. The site, named Texas 8, will be operated by Compass Mining as part of its strategy to expand hosting capacity across key US energy markets. The facility follows two recent expansions: a 20-megawatt site energised in Texas last October and an off-grid natural gas facility launched in Wyoming the previous month. Chief Mining Officer Shanon Squires said the operations team racked thousands of miners and achieved full energisation in record time. Compass Mining currently manages over 160 megawatts across a global network of facilities, providing end-to-end Bitcoin mining infrastructure and operations services to institutional and individual customers.

Trend Hunter
Sep 25th, 2025
Off-Grid Natural Gas Sites

Compass Mining has established a new computing facility in Wyoming.

Chainbits
Aug 19th, 2025
Compass Mining Deepens Vertical Integration with New 10 MW Site in Partnership with ONMINE

Compass Mining deepens vertical integration with new 10 MW site in partnership with ONMINE.

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