11:00 AM EDT, 10/28/2024 (MT Newswires) -- Compass Mining said Monday that it partnered with Cathedra Bitcoin ( CBTTF ) to co-locate 10 megawatts of Bitcoin mining equipment at one of Cathedra's data centers in Kentucky.

Cathedra was up 13/3% at last look to $0.085 on the TSXV.

Under the terms, Compass will manage mining operations at the facility, covering pass-through power costs, while sharing Bitcoin mining profit with Cathedra.

Both parties intend to expand this partnership beyond the initial 10 MW to other sites in the future.

"The Kentucky data center meets Compass's high uptime and reliability standards for all its partner sites, and the location offers a stable power grid and favorable regulatory environment," said Paul Gosker, CEO of Compass Mining. "By leveraging Cathedra's infrastructure, we will have even greater flexibility and control over our Bitcoin mining services."

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