meta_pixel
Tapesearch Logo
Log in
CoinDesk Podcast Network

THE HASH: Compass Mining Seen Losing Maine Facility After Failing to Pay Power Bill

CoinDesk Podcast Network

CoinDesk

Cryptocurrencies, Cryptocurrency, Dlt, Tokenization, Coindesk, Distributed Ledger, Blockchain, Tech News, Business News, Ethereum, Bitcoin, News, Digitalassets, Daily News, Decentralization, Defi, Crypto, Business

4.8689 Ratings

🗓️ 28 June 2022

⏱️ 20 minutes

🧾️ Download transcript

Summary

The most valuable crypto stories for Tuesday, June 28, 2022. 

Troubles at crypto mining firm Compass Mining as it reportedly fails to pay its power bills. FTX's Sam Bankman-Fried denies rumors the exchange will acquire Robinhood. "The Hash" team discusses today's top stories.

This episode was edited by Eleanor Pahl and our executive producer is Jared Schwartz. Our theme song is “Neon Beach.”

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

Click on a timestamp to play from that location

0:00.0

This is the hash podcast.

0:10.0

Stay informed with the latest on Bitcoin, Eith, the Metaverse, Web3, and more, with stories that matter to the crypto world.

0:17.3

All on the hash for your ears.

0:20.5

You're listening to the Coin Desk Podcast Network.

0:24.7

Hey, everyone. It's The Hash. If you're watching, you're watching on Coin Desk TV. And if you're

0:30.1

listening, you're on the Coin Desk podcast network. I'm Jensen S.E. Today we have on the show,

0:35.1

Zach Seward and Wendy O, the whole team is here on a Tuesday.

0:40.6

Zach, you have our first story. We're going right on over to Compass Mining. What's going on?

0:47.2

Hard times in mining land. That's what's going on. Compass Mining, which, by the way, Will Foxley works at as the director of content, is having a hard time with a facility up in Maine.

0:57.6

Company took it to Twitter, airing out some dirty laundry yesterday and alleging that Compass Mining had not paid its bills in full.

1:06.2

They would in turn be losing a main Bitcoin mining facility. So that's what's going on there.

1:13.1

This is a bear market signal. We may see more of these announcements from the Bitcoin mining

1:18.1

industry over the next weeks and months. As Bitcoin mining as a proposition becomes less

1:22.1

profitable, cuts like this or just beef between service providers and mining firms themselves are likely to emerge.

1:30.0

Interesting tack here, chosen by dynamic. They're taking this public saying that there's a suit in

1:34.1

the works. Compass mining does not have a statement as of this time, but we will likely hear

1:38.4

something from them soon. I'm going to toss this straight to Wendy for her initial thoughts on this

1:43.6

compass mining

1:44.2

situation. Happy to see you amazing people again. And big shout out to everybody watching. So,

1:49.8

let's talk about the initial part of this story. The fact that this company went out publicly

1:55.6

and made these types of allegations, I don't like that. I don't like public callouts. I don't think

2:00.6

it does anybody a service. And if in fact you do have don't like public callouts. I don't think it does

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from CoinDesk, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CoinDesk and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2025.