Compass Mining, a prominent provider of Bitcoin mining hardware and services, has announced plans to establish a new mining facility in Iowa.

The company has acquired property and secured power agreements for the state-of-the-art site, which is set to begin operations with an initial capacity of 8 megawatts (MW) in January 2025. Future expansions aim to increase capacity up to 30 MW as additional infrastructure investments are pursued.

Situated on a 5-acre greenfield site, the Iowa facility represents a significant advancement in Compass Mining’s strategy to expand its self-owned infrastructure portfolio.

An Electric Service Agreement (ESA) is in place to ensure the energization of the initial 8 MW capacity by early 2025. Once operational, customers will have the option to select “Iowa 4” as the deployment location for new machines purchased through Compass’s platform.

Traditionally partnering with third-party facilities, Compass Mining is now focusing on reducing counterparty risk by owning and operating its own sites.

The new Iowa facility exemplifies this approach, allowing the company to enhance control over operations and offer greater flexibility to customers.

Chief Mining Officer Shanon Squires emphasized that increasing self-owned capacity provides customers with greater operational control, while partnerships with reliable third-party facilities continue to offer deployment flexibility, reflecting both power market dynamics and geographic diversity.

The Iowa facility is part of Compass Mining’s broader U.S. expansion efforts. Earlier this year, the company successfully energized facilities in Kentucky (10 MW) and Nebraska (7.5 MW).

In 2024 alone, Compass has added nearly 50 MW of new power capacity across Indiana, Iowa, Ohio, Kentucky, Nebraska, and Texas, with plans for an additional 20 MW by January 2025.

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