Compass miningCryptocurrency mining equipment provider, announced that two key executives have resigned in the “multiple setbacks and disappointments” of the crypto sector.
The US-based company said it immediately accepted the resignations of Chief Executive Officer Whit Gibbs and Chief Financial Officer Jody Fisher.
“Compass mining was created to make mining easier and more accessible,” the company said. Said in a statement.. “We recognize that there were multiple setbacks and disappointments that defeated that purpose.”
The company has been hit hard by the cryptocurrency crash and said it will restructure its business to reduce costs.
“Through this restructuring, the company not only fulfills our mission to provide best-in-class service to miners of all sizes, but also fully focuses on regaining the goodwill of our stakeholders and the community. I am. “
The company claims 12,000 customers
The company operates 35 cryptocurrency mining facilities in the United States, Canada and Iceland and has approximately 12,000 customers.
Compass said it would dispose of Russia’s cryptocurrency mining facility over sanctions related to Moscow’s invasion of Ukraine.
The company also disputed the claim that it had a $ 600,000 debt due to coin minor dynamics.
“Dynamics operates about 1% of Compass Mining’s contracted capacity, and each of these valued customers is very important to Compass,” Compass said.
“We take this issue very seriously because our priority is always on the success of our customers. Many of Dynamics’ statements about social media are completely incorrect, without factual support, and It’s doing more damage to Compass. “