Performance.
You definitely can write a compiler in a high-level language and given the choice I certainly prefer to on my hobby projects. Having a garbage collector makes so many compiler algorithms and data structures easier.
But I also accept that that choice means there's an upper limit to how fast my compiler will. If you're writing a compiler that will be used to (at least aspirationally) compile huge programs, then performance really matters. Users hate waiting on the compiler.
When you want to squeeze every ounce of speed you can get out of the hardware, a low-level language that gives you explicit control over things like memory layout matters a lot.