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Compass Mining Shuts Down Russian Facility Due to Sanctionstwitter.com/nobsbitcoin/status/1517182641367400448?s=21&t=PrKZtAqtInMjDRpi49j4nQ
1174 sats \ 10 comments \ @CypherPoet 21 Apr 2022 bitcoin
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20 sats \ 0 replies \ @nout 21 Apr 2022
And this is exactly what needs to be counted as overhead in maintaining mines...
At Bitcoin 2022 I was surprised that all the various companies offering me some mining products did not include this type of risk into their price calculations.
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37 sats \ 1 reply \ @shyfire 21 Apr 2022
This is just sanctions on a fiat contract between a us company (compass mining) and a Russian company (bitriver). The news here is that fiat is not censorship resistant.
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10 sats \ 0 replies \ @2big2fail 21 Apr 2022
unfortunately the country you live in can also throw you in jail. if you consider citizenship fiat then it is indeed a fiat problem. otherwise it is a problem with existing in the real world
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20 sats \ 0 replies \ @holzapfelbaum 22 Apr 2022
mining's Mt. Gox moment?
the people with miners in Compass facilities in RUS just got "Compassed"?
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20 sats \ 0 replies \ @creativowinder 21 Apr 2022
that is why you have to be careful where you are mining, since politicians are bipolar
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0 sats \ 0 replies \ @Ge 24 Apr 2022
Well if there is a head to cut off big govt will def find it....sucks for everyone that got Got....It's already a tad shady not hosting the miner yourself...now this kind of stuff happens makes one think of ways to avoid that and becoming that much more sovereign.
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0 sats \ 3 replies \ @BTCMiner 21 Apr 2022
Here's a post here on SN about the sanctions:
Treasure department sanctions russian bitcoin miners #21425 https://home.treasury.gov/news/press-releases/jy0731
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0 sats \ 2 replies \ @BTCMiner 21 Apr 2022
6 months ago I would have said hashrate growth upper boundary constraint was foundry capacity, now it looks like it's going to be miners ability to stay plugged in (regulatory stability, energy pricing, contract terms).
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1 sat \ 1 reply \ @BTCMiner 21 Apr 2022
Ouch.
A cruel lesson in the importance of self hosting your hardware. Hope there aren't too many Bitcoiners caught up by this.
https://i.imgur.com/wJ4gvR5.jpeg
[Larger image]
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20 sats \ 0 replies \ @kevkevin 23 Apr 2022
This is a nice way of saying you won't get your money back, Compass has done this with miners when there were issues getting the machines on at facilities, and the people who bought the miners took a loss. I understand its probably hard on Compass's side as well to do all this but if it's not your machine you're trusting Compass
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