Compass Mining CEO, CFO resign after utility payment default allegations
Delaware-based Bitcoin mining hosting firm Compass Mining announced Tuesday that its chief executive officer Whitney Gibbs and chief finance officer Jodie Fisher have resigned, effective immediately.
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Fast facts
The firm’s board has appointed chief technology officer Paul Gosker and chief mining officer Thomas Heller as co-presidents and interim CEOs.
Gibbs and Fisher’s resignations came after Compass reportedly lost a mining facility due to its inability to pay electricity bills.
The mining service provider had US$1.2 million in total liabilities, of which US$665,000 were paid, according to one of its facility owners, Dynamics Mining, who claims to have terminated its mining hosting contract with Compass on June 14.
Dynamics’ allegations are “completely incorrect [and] lack any factual support,” Compass said in a statement.
Compass has filed a lawsuit and requested expedited relief to protect itself and consumer interests, Compass said.
Compass Mining’s Discord channel has been closed since Monday, according to reports from several users.
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