Compass Mining, situated in Delaware, provides US citizens with exposure to Bitcoin mining via its own infrastructure.
JPMorgan Chase, the American banking giant, has apparently suspended all account activity for Compass Mining, a Delaware-based Bitcoin (BTC) mining company. The facts became public when Whit Gibbs, CEO of Compass Mining, announced:
Compass Mining has been active in the provision of Bitcoin mining equipment and hardware hosting services. Under the guise of promoting the Bitcoin hash rate and network, the company allows individual users to mine Bitcoins using its private infrastructure.
Cointelegraph has contacted both parties for additional feedback and will update this post accordingly. JPMorgan has previously demonstrated its commitment to the crypto ecosystem, from recruiting blockchain experts to providing affluent investors with access to crypto funds.
On Aug. 6, JPMorgan opened access to six cryptocurrency funds over a three-week period in an effort to provide customers with exposure to the cryptocurrency market. This action has exposed traditional investors to a Stone Ridge Bitcoin Strategy Fund, which was formed to invest in Bitcoin futures contracts and pooled direct and indirect Bitcoin investments.
Last month, JPMorgan’s Mary Callahan Erdoes, director of asset and wealth management, emphasized the critical nature of addressing the demand for cryptocurrency investments. “Many of our clients say, ‘That is an asset class in which I wish to invest,’ and our duty is to assist them in investing their money in the asset classes in which they wish to invest,” she explained.
Also Read: Liquid Exchange Hacked To 80 Million Dollars
Wallets