Bitcoin mining equipment and service provider Compass Mining is trying to quickly sell equipment located in Siberia following US sanctions against BitRiver. It is reported by Bloomberg.

Whit Gibbs, CEO of Compass Mining, said the firm is seeking buyers in Russia for 12 MW cryptocurrency mining devices worth $30 million that cannot be exported abroad.

The company plans to distribute most of the revenue to about 2,000 customers who own the equipment.

Compass Mining expects its operating capacity to increase from 70 MW to 355 MW by the end of the year, even after the equipment sale in Russia.

Gibbs said the firm plans to deliver another 10 MW to Russia this year, but these will be diverted to facilities in Texas.

Recall that the US Treasury has imposed sanctions against the BitRiver group of companies engaged in mining cryptocurrencies in the Russian Federation. BitRiver founder Igor Runets said in a comment to ForkLog that he views the imposition of sanctions as unfair competition.

Elliptic believes the cryptocurrency industry has received a “strong signal” from the US about the need to implement solutions that will prevent the Russian Federation from evading sanctions through mining.