Have you looked at using LZ4 compression? Supposedly it has a very fast decompressor, so it could be better than uncompressed files for your purposes.
Compressing a 57.5 MB .hop archive with `gzip -c` returns an 11.7 MB file. This is a similar compression ratio as tar -> tar.gz
Compression is great for sending files over the network, but for fast reads, it might be undesirable