First you will need to go and georeference your image. It will turn out absolutely massive, like 1.57GB.
With this image we will compress the file into a geoTiff with jpeg compression. Comes back as 45mb.
gdal_translate \
HSPC0567_wgs84.jpg \
out1.tiff \
-co COMPRESS=JPEG \
-co PHOTOMETRIC=YCBCR \
-co TILED=YES