Bitcoin mining has evolved from a niche hobby to a global industry, and Compass Mining aims to make it more accessible to individuals who want to participate but lack the means to do so.
In a recent interview with Bitcoin News, CJ, Chief Revenue Officer of Compass Mining, shared insights into his journey with Bitcoin, the company’s mission, and the exciting opportunities in the mining space.
CJ’s Bitcoin story began, like many others, with the infamous 2017 bull run where bitcoin started the year less than $1,000 per coin before rocketing to a peak of around $20,000.
“I’ve been pretty interested in financial markets since high school, and when Bitcoin’s performance caught my attention, I wanted to dive deeper,” he shared. However, it wasn’t until the 2020 cycle that his interest in mining took off.
He initially explored mining at home but quickly realized the challenges involved. “It generates a lot of heat, a lot of noise, and can put some friction on your marriage if you’re not careful,” he joked.
This led him to seek out hosting solutions, eventually making him one of Compass Mining’s first customers. “I was actually Compass’s third customer, and that relationship grew into a role within the company.”
Bitcoin’s core philosophy revolves around financial sovereignty. CJ put it simply: “Freedom money. The separation of money from the state and the ability to transact without censorship.” This belief drives Compass’s mission to make mining accessible to anyone interested.
“As mining has become more institutionalized over the years, it has become harder for individuals to participate. Compass was founded to change that and give power back to retail miners who want to be a part of the network.”
Compass measures success not just by how much bitcoin is mined but also by how many people they can empower. Their focus is on accessibility, providing affordable entry points, and efficient management. “We want to make mining available to more people,” CJ said.
Bitcoin mining is often misunderstood.
One of its most significant contributions is its role in energy grid stabilization and development. CJ pointed out how miners provide a valuable baseload demand, helping power projects stay viable while distribution infrastructure catches up.
“We’ve partnered with a small project in Africa that has a fixed power budget. By introducing mining, we’ve helped them expand their funding, keeping their hospital open longer and serve more customers.”
Miners have the unique ability to monetize excess energy that would otherwise go to waste. It doesn’t matter whether it’s flared natural gas, curtailed renewables, or remote hydroelectric power.
If you can generate electricity and secure a Wi-Fi connection, you can plug in a miner to mine bitcoin. This creates numerous positive-sum opportunities for local communities, energy companies, and Bitcoin miners alike.
The flexibility of bitcoin mining allows energy producers to optimize their operations, enhancing efficiency and profitability for those involved.
One of the biggest mistakes people make when entering mining is thinking short-term.
“The best time to invest in mining is when margins are low,” CJ explained. He compared it to Christmas shopping, “People rush to buy gifts before the holiday, but the best deals are always after. The same logic applies to Bitcoin mining.”
Despite the challenges, home mining is making a comeback. “Projects like Bitaxe and other open-source initiatives are creating smaller, more efficient miners that make home mining more accessible than ever. Even if it’s not always profitable, people enjoy being a part of the network.”
Compass isn’t trying to compete with large-scale publicly listed Bitcoin miners. Instead, they offer hosting solutions for individuals and smaller enterprises who want to mine without the complexity of managing their own facilities.
“For those who don’t want to build out their own facilities, Compass offers solutions that allow them to participate in mining without the headaches.”
Bitcoin is for everyone, but not everyone has the time, space, or technical skills to mine on their own. That’s where Compass Mining steps in.
They bridge the gap, offering a practical, efficient way for individuals to participate in securing the network and accumulating bitcoin without the logistical nightmares of trying to get an ASIC running in an urban apartment.
“The opportunity is massive, and we’re just getting started,” CJ concluded. Whether you’re an enthusiast looking to stack sats or someone who sees mining as a long-term investment, Compass makes it possible.
As Bitcoin adoption grows, mining need not be limited to those with deep pockets and industrial resources. Compass Mining is here to ensure that anyone with the desire to contribute to the network’s hash rate can do so, effectively and efficiently.
