Hosting provider Dynamics Mining has terminated its agreement with Bitcoin mining equipment and services provider Compass Mining due to unpaid invoices. We are talking about an object in the state of Maine (USA).

Valid from 14 June @compass_mining Terminated by facility hosting contract in Maine @dynamic2k to avoid paying power consumption charges. 6 delayed payments and 3 non-payments. @MadenSkandals pic.twitter.com/cSfnWMmqTY

— DynamicsMining (@DynamicsMining) 27 June 2022

The Dynamics letter says Compass made six delayed payments and failed to pay three utility and hosting bills. The contract between the companies was terminated on 14 June.

In subsequent communications, Dynamics announced that Compass’s power consumption was $1.2 million. The mining company paid only $415,000 and received $250,000 as an initial deposit.

“They claim to have given the money, but the funds were used to build their facility,” the hosting firm said.

for clarity @compass_mining power consumption @Dynamics2k totaled $1.2 million, and they paid only $415k and $250,000 in initial energy deposits. Compass claims to give money @Dynamics2k but the money was used to build the facilities. #real pic.twitter.com/9esvuCFulO

— DynamicsMining (@DynamicsMining) 27 June 2022

in the comments interested Dynamics’ free capacities in anticipation of “quick docking” of devices from Marathon Digital Holdings. The hosting provider said they have 12 MW.

Compass’ hosting agreement with customers states that the company “may relocate equipment from time to time” provided “reasonably comparable terms” are met. The company is obliged to notify the user of the action 10 days in advance and to give 5 days to make a decision. Compass may terminate the contract with 30 days’ notice.

The company welcomes customers’ bitcoin miners and their own equipment at its facilities in the US and Canada.

In September 2021, Compass launched its first home cryptocurrency mining solution.

Recall that in April, the company began to look for buyers for equipment located in the Russian Federation after US sanctions on BitRiver.

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