Bitcoin mining equipment and services provider Compass Mining is trying to quickly sell equipment located in Siberia after US sanctions on BitRiver, Bloomberg reports.
The firm is looking for buyers in Russia for devices for mining cryptocurrencies worth $30 million and a total capacity of 12 MW, which cannot be taken out of the country, said Whit Gibbs, CEO of Compass Mining.
The company plans to distribute most of the proceeds to approximately 2,000 customers who own the equipment.
Compass Mining expects its operating capacity to grow from 70 MW to 355 MW by the end of the year, even after selling equipment in Russia.
Gibbs has said that the company planned to supply another 10 MW devices in Russia this year, but they will be redirected to facilities in Texas.
