Compass Mining Launches Bitcoin Mining Operation in Iowa
Compass Mining has announced the launch of the initial phase of its proprietary bitcoin mining operation located in Iowa. As of Tuesday, their 8-megawatt (MW) facility is now operational, marking the first step in a larger 30 MW project planned for the site.
Future Plans and Capacity Expansion
The company is set to commence construction on the remaining capacity in the fourth quarter of 2025. Spanning 5 acres, this facility enhances Compass Mining’s portfolio of self-managed resources, granting clients the ability to install their mining machines directly at this Iowa center.
CEO Paul Gosker emphasized that this development enhances the firm’s operational control and offers greater flexibility for customers to select their preferred hosting locations.
Recent Developments and Strategic Goals
Notably, this facility addition follows the recent establishment of a hydro-cooled mining operation in North Dakota. In 2024, the company increased its overall power capacity by nearly 50 MW across six different states, including areas like Indiana, Ohio, and Texas, a move consistent with its goal of expanding self-operated infrastructures while still collaborating with third-party hosting services.
Although the full completion timeline and costs associated with the Iowa facility were not disclosed, Gosker stated that expanding their owned infrastructure is pivotal in reinforcing Compass Mining’s leadership in the bitcoin mining hosting sector.
He also pointed out that owning and managing their own sites allows clients more control over operations while still providing access to a network of dependable third-party facilities to accommodate their varying needs and preferences.
