Compass Mining, the world's first online marketplace for Bitcoin mining hardware and hosting, is sponsoring bitcoin-back rewards company Fold’s Daily Spin sweepstakes for the month of June.
The month-long Daily Spin partnership represents a synergy between Fold’s and Compass’s goals to simplify the Bitcoin user experience for retail users. Both companies build tools for earning and owning bitcoin to serve retail clients through money-back bitcoin rewards programs and a global marketplace for buying and hosting mining machines.
“Our entire team at Compass is excited to sponsor Fold’s daily giveaways. Their products are built with the same purpose that drives everything we do at Compass Mining, namely to offer simple and engaging tools for onboarding thousands of new users to the Bitcoin ecosystem,” said Whit Gibbs, CEO of Compass.
As part of the promotion, Daily Spin participants will have a chance to start mining through Compass. Custom prizes offered through the partnership include 10 chances to win a full year of free hosting with the purchase of an ASIC. Three other winners can claim a free S19 Pro and one year of free hosting.
Compass’ sponsorship follows fresh venture capital raised by both firms. Atlanta-based Fold announced its completion of a $13 million Series A round this week. Compass completed a $1.7 million seed round in March, joined by Galaxy Digital, CoinFund, and CoinShares.