US Crypto Mining Company Plans to Sell $30M Worth Equipment in Russia to Dodge Sanctions

By Abhishek Nashirkar


Compass Mining is selling around $30 million in Bitcoin mining equipment located in Siberia in a bid to avoid sanctions imposed by the US.With the West leading the fight with sanctions, a US-based company – Compass Mining – is planning to sell around $30 million in Bitcoin mining equipment located in Siberia.


The move to liquidate the Bitcoin mining rigs comes after the United States government imposed fresh sanctions on the mining operation BitRiver and ten subsidiaries.According to the latest Bloomberg report, Compass Mining is looking for buyers in Russia for mining servers with 12 megawatts of capacity. Its Chief Executive Officer Whit Gibbs believes the firm will be able to pay off proceeds to nearly 2,000 clients that own the gear after recovering the value of the equipment.

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