The U.S.-based company Compass Mining plans to sell $30 million worth of bitcoin mining equipment that’s currently located in Siberia. The decision to sell the mining rigs follows the U.S. government sanctioning the bitcoin mining operation Bitriver and ten subsidiaries. Compass is hoping to offload 12 megawatts of capacity, according to a company executive.
Compass Mining’s decision to sell $30 million in mining equipment follows Bitriver being added to OFAC’s SDN list. Gibbs detailed that U.S. miners are being affected by financial constraints caused by sanctions. “I understand the sanctions; in this case, the punishment is outsized for American miners,” Gibbs explained to Bloomberg on Friday.
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