{"id":63631,"date":"2022-06-29T10:04:30","date_gmt":"2022-06-29T07:04:30","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=63631"},"modified":"2025-09-06T10:05:25","modified_gmt":"2025-09-06T07:05:25","slug":"compass-mining-ceo-and-cfo-resign","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/compass-mining-ceo-and-cfo-resign\/","title":{"rendered":"Compass Mining CEO and CFO resign"},"content":{"rendered":"<p>The equipment and services provider for Bitcoin mining Compass Mining announced the resignation of CEO Witt Gibbs and CFO Jodi Fischer.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">&#8220;Through this restructuring, the company is wholly focused on regaining the goodwill of our stakeholders and the community, as well as delivering on our mission of providing best-in-class service for miners of all sizes.&#8221;<a href=\\\"https:\/\/t.co\/wWcTcz8m9y\\\">https:\/\/t.co\/wWcTcz8m9y<\/a><\/p>\n<p>\u2014 Compass Mining \ud83e\udded (@compass_mining) <a href=\\\"https:\/\/twitter.com\/compass_mining\/status\/1541881744135159808?ref_src=twsrc%5Etfw\\\">June 28, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cCompass Mining was created to make mining simple and accessible. We recognise that there have been numerous missteps and disappointments that distracted from this goal,\u201d the statement said.<\/p>\n<\/blockquote>\n<p>Representatives of the supplier emphasised that the restructuring will allow Compass Mining to \u201cfully focus\u201d on fulfilling the \u201cmission to provide best-in-class services for miners.\u201d<\/p>\n<p>The board of directors appointed CTO Paul Gosker and Thomas Heller, the head of the mining division, as interim co-presidents and chief executive officers.<\/p>\n<p>Earlier the hosting provider <a href=\"https:\/\/forklog.com\/en\/news\/us-hosting-provider-terminates-agreement-with-compass-mining\">Dynamics Mining<\/a> terminated the agreement with Compass Mining due to unpaid invoices for a facility in Maine.<\/p>\n<p>According to CoinDesk, on June 24 the provider closed its Discord channel. Some users believed that Compass Mining took this step to hinder them from sharing information and complaints.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">we all like the <a href=\\\"https:\/\/twitter.com\/discord?ref_src=twsrc%5Etfw\\\">@discord<\/a> channel <a href=\\\"https:\/\/twitter.com\/compass_mining?ref_src=twsrc%5Etfw\\\">@compass_mining<\/a>. leave it alone! <a href=\\\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Bitcoin<\/a> <a href=\\\"https:\/\/t.co\/rTYDJZpXpG\\\">pic.twitter.com\/rTYDJZpXpG<\/a><\/p>\n<p>\u2014 Eddie (@eomar2828) <a href=\\\"https:\/\/twitter.com\/eomar2828\/status\/1540201149067935744?ref_src=twsrc%5Etfw\\\">June 24, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The then-CEO Gibbs told the publication that the company had problems communicating with its clientele, and the Discord move was aimed at improving workflow.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cMany things are very poorly managed and executed, which leads people to believe that they are dubious,\u201d said a former Compass Mining employee who asked to remain anonymous in an interview with CoinDesk.<\/p>\n<\/blockquote>\n<p>In 2021 Gibbs said that <a href=\"https:\/\/forklog.com\/en\/news\/jpmorgan-closes-compass-mining-firms-accounts\">JPMorgan Chase closed the company&#8217;s accounts<\/a>. He said this did not affect operations going forward.<\/p>\n<p>In September the provider launched a <a href=\"https:\/\/forklog.com\/en\/news\/compass-launches-home-bitcoin-mining-solution\">home mining of the first cryptocurrency at home<\/a> solution.<\/p>\n<p>As reported in April 2022, Compass Mining began seeking buyers for equipment located in Russia <a href=\"https:\/\/forklog.com\/en\/news\/us-sanctions-bitriver-mining-group\">following the sanctions imposed on BitRiver<\/a>.<\/p>\n<p>Read ForkLog\u2019s bitcoin news in our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 news, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Compass Mining, the equipment and services provider for Bitcoin mining, announced the resignation of CEO Witt Gibbs and CFO Jodi Fischer.<\/p>\n","protected":false},"author":1,"featured_media":63632,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,2237],"class_list":["post-63631","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-compass"],"aioseo_notices":[],"amp_enabled":true,"views":"34","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/63631","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=63631"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/63631\/revisions"}],"predecessor-version":[{"id":63633,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/63631\/revisions\/63633"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/63632"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=63631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=63631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=63631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}