Compass Mining CMO Shanon Squires Q&A - 2024 Year in Review!
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Shannon Squires, the Chief Mining Officer of Compass Mining, takes us on an exciting journey through the evolving landscape of Bitcoin mining in 2024. Discover the pivotal moments in Compass Mining’s journey to becoming a full-stack mining operation, marked by the groundbreaking of their first self-operated facility. We explore Compass Mining's strategic expansions, including energizing 50 megawatts across various sites and the promising development of their Iowa location. Shannon shares insights on the factors guiding site selection, especially the allure of renewable energy markets that offer a competitive edge in mining operations.Learn the secrets behind Compass Mining’s improved customer satisfaction, with an innovative dual-team strategy addressing everything from miner repairs to general service issues. Hear about the efforts to improve repair turnaround times, ensuring every client's needs are prioritized. Shannon touches on the potential benefits of on-site repair teams and how these initiatives are part of a broader commitment to operational excellence, resulting in a declining backlog of support tickets and happier customers.Venture into the dynamic Bitcoin miner resale market, where hardware demand and pricing trends play a crucial role. Shannon explains how bull markets impact hosting capacity and the opportunities and challenges they create for mining machine transactions. As we look ahead to 2025, Shannon gives us a sneak peek into Compass Mining's ambitious expansion plans, including new developments in Texas and the growing trend of home mining. We conclude with unexpected insights from our interviews and extend warm holiday wishes, eager to continue this enlightening conversation in the new year.