We are pleased to inform you that Compass Mining has successfully recovered mining equipment from a former partner hosting facility in Maine that had been holding the equipment against Compass’s instructions. This removal comes following a court order on July 5 that affirmed Compass’s and its customers’ title to the equipment, prohibited the facility from operating, moving, or otherwise disposing of the equipment, and affirmed Compass’s right to access the facility.

Compass Mining originally filed a lawsuit on June 21 in Delaware Court of Chancery against the hosting facility for the wrongful seizure of customer machines, amongst other conduct.

Compass Mining is now in the process of shipping all units back to our new Denver, Colorado logistics and repair hub for inspection and diagnostic work on each individual machine, at no additional cost to our customers.

Following servicing, we will ship units to customers who elect to take possession. Customers can expect delivery by the end of July for those electing to take possession. Please note that customers will be charged for shipping machines from our Denver facility to the chosen location.

Maine customers will also receive a refund for hosting deposits. Compass Mining will send additional information on the refund process after we collect information on customer preference for next steps.

Compass is actively working with other partners to secure rack space for the Maine units. We expect to find a hosting provider by the end of Q3, depending on availability. Your machine will remain in our Denver warehouse if you elect to wait until hosting space is found.

Compass thanks you for your patience during this trying moment for our team and customers.