Just weeks after announcing employee layoffs and pay cuts, Compass Mining unveiled expansion plans in the form of a 75-megawatt (MW) hosting partnership with Compute North for its data center in Granbury, Texas.

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The July 21 announcement came just two weeks after the company cut 15% of its workforce and implemented pay cuts for its top managers to weather difficult market conditions.

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It also followed the resignation of key executives including CEO Whit Gibbs and Chief Financial Officer Jody Fisher at the end of June, as well as the loss of one of its Maine hosting properties after allegedly missed payments related to utility bills and hosting fees.

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Compass said the newest large-scale rollout will start in August and last for several months.

The expansion includes plans to deploy 25,000 application-specific integrated circuit (ASIC) miners at Wolf Hollow’s existing Granbury factory site, including various next-generation bitcoin miners.

According to Compass, the facility is state-of-the-art and is powered by a 1.1 gigawatt (GW) natural gas combined cycle power plant that uses advanced gas turbine designs and air cooling to reduce carbon emissions and dependency on water.

The data center is also fully load balanced and can shut down at any time if the network load exceeds capacity.

This adds to Compass’ existing facilities in the US, Canada and Iceland, with major operations in Texas, Ontario, New Mexico and Florida.

However, crypto miners in Texas have had a tough month due to a record heat wave in the state that has strained the power grid.

Major bitcoin miners have partnered with the Electricity Reliability Board of Texas (ERCOT) to temporarily close or drastically reduce their operations in the state to reduce network congestion.

However, cryptocurrency mining companies are still coming to Texas en masse, attracted by less regulatory scrutiny and lower electricity costs.

Mining stocks hit a one-month high

Despite the recent heat wave affecting local mining operations, listed mining stocks are performing well, according to NASDAQ data.

As of July 22, the top three miners by market capitalization are in positive territory.

Bitcoin miner stocks rebound sharply despite 70% drop in BTC miner earnings

Marathon Digital Holdings Inc shares are up 99.85% in the last month, Riot Blockchain Inc is up 65.65% and Canaan Inc is up 42.27% in the last month.

This is because the price of Bitcoin (BTC) has also reached a monthly high, hitting $22,938 at the time of writing.