Mindshift, a licensed digital assets service provider in South Korea, will be Compass's exclusive representative
WILMINGTON, Del., Oct. 9, 2024 /PRNewswire/ -- Compass Mining ("Compass"), a leading provider of Bitcoin mining hardware, hosting, and services, today announced its partnership with Mindshift, a South Korea-based Virtual Asset Service Provider (VASP), to extend its Bitcoin mining services to the South Korean market. This collaboration aligns with Compass's mission to democratize Bitcoin mining by making it accessible to everyone everywhere.
South Korea's higher electricity costs and regulatory landscape have presented challenges for local residents seeking to mine Bitcoin profitably. Through this partnership, Compass and Mindshift aim to address these hurdles by offering South Koreans the opportunity to benefit from lower electricity rates and Compass's expertise in turnkey Bitcoin mining solutions.
"We're thrilled to partner with Mindshift to bring our Bitcoin mining services to South Korea," said Paul Gosker, CEO of Compass Mining. "By leveraging Compass's experience in managing mining facilities, procuring and reselling mining machines, and providing competitive electricity rates, we can empower South Korean individuals and businesses to participate in the Bitcoin mining ecosystem."
As part of the partnership, Mindshift plans to launch a new turnkey mining product. This offering will allow South Korean users to purchase Bitcoin mining machines, have them shipped to Compass's data center facilities, and benefit from professional installation, management, and operation. Additionally, Compass will provide end-of-life services for the mining equipment, offering a comprehensive solution for South Korean investors.
"We're excited to collaborate with Compass to provide South Koreans with a convenient and efficient way to participate in Bitcoin mining," said JB Hwang, CEO of Mindshift. "By combining Compass's industry-leading services with our local expertise, we can offer a seamless experience for our customers."
About Compass Mining
Compass Mining is a customer-first company that provides a platform for individuals and businesses to purchase Bitcoin mining hardware, host machines, build and manage mining facilities, and access a range of ancillary services. With a commitment to exceptional customer support and transparency, Compass Mining sets the benchmark for bitcoin mining hosting. Its mission is to make Bitcoin mining accessible to everyone. To learn more about Compass Mining or to start mining today, visit compassmining.io.