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Crypto-Mining Data Center Compute North Files for Bankruptcy Protectionwww.coindesk.com/business/2022/09/22/crypto-mining-data-center-provider-compute-north-files-for-bankruptcy-protection
135 sats \ 2 comments \ @BTCMiner 22 Sep 2022 bitcoin
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0 sats \ 0 replies \ @BTCMiner OP 23 Sep 2022
See also an article on The Block, which was can also be found here on SN:
Bitcoin Mining Hosting Provider Compute North Has Filed for Chapter 11... #73274 https://www.theblock.co/post/172246/compute-north-files-for-chapter-11-bankruptcy
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0 sats \ 0 replies \ @BTCMiner OP 22 Sep 2022
The company only last February announced a capital raise of $385 million, consisting of an $85 million Series C equity round and $300 million in debt financing.
Compute North is one of the largest data center providers for miners, and has multiple deals with other larger mining companies.
Some of the company's partners include Marathon Digital (MARA), where Compute North has brought online 40 megawatts (MW) of a 280MW wind-powered facility at its Upton County in West Texas. Bitcoin mining hosting and brokerage services firm Compass Mining also said recently that it will work with Compute North on a 75MW hosting partnership for its Granbury, Texas, data center. Shares of Marathon was down slightly in post-market trading on Thursday.
Additional deals that Compute North signed included Singapore-based Atlas Mining, Chinese Crypto Miner The9 and bitcoin miner BitNile Holdings (NILE). Shares of BitNile was down about 1% in after-hours trading.
An archive of the article is here. An archive has no paywall, no subscription requirement, and can be easier to read.
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