One embodiment provides a method comprising receiving an input data stream, partitioning the input data stream into a plurality of data blocks, and compressing the data blocks utilizing a plurality of processor sets. Each processor set is assigned a data block to compress. The processor sets compress in parallel to exploit inter-block parallelism. Each processor set comprises one or more processors that collaborate in compressing an assigned data block to exploit intra-block parallelism. The method further comprises writing a plurality of compressed data blocks resulting from the compressing to a storage device in encoded form.