- Just yesterday, April 21, BTC-ECHO reported that the US sanctions imposed on the Kremlin over Russia’s war of aggression against Ukraine are now also affecting the Russia-based crypto sector.
- Bitcoin mining company Compass Mining also hosts its ASIC miners via BitRiver in Russia. Due to recent sanctions, Compass Mining has now arranged for these devices to be shut down.
- After fifth EU sanctions package Against the Russian regime and its supporters, Whit Gibbs writes on Discord:
Due to recent US government sanctions, Compass Mining is forced to immediately cease all dealings with BitRiver, our Russian hosting partner. […] The machines will be shut down today.
Whit Gibbs, Compass Mining CEO via Discord
- Compass Mining does not want to endure a total failure for its customers and tries to liquidate the complete hardware in order to pay off the customers.
- Customers have 48 hours to give the company permission to sell the ASIC devices. If this period expires, they would have to take care of the sale themselves.
- Due to the current situation, it is not possible to simply export the machines out of the country.
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