Compute North: Struggling Compute North Sells Two Data Centers to Foundry Digital

Nov 25, 2022 | Posted by Abdul-Rahman Oladimeji

Compute North has sold two of its data centers to crypto mining firm Foundry Digital amidst bankruptcy. Compute North provides data center hosting services for blockchain and crypto mining firms. The company filed for Chapter 11 bankruptcy in September due to owing over 200 creditors up to $500m. Foundry Digital revealed that it entered a purchase agreement with the struggling data center firm to acquire two turnkey cryptocurrency mining data centers. There's also an option to acquire a third facility which is still under development. The companies did not reveal the terms of the deal.

The transaction sees Foundry Digital acquire two facilities in Big Springs, Texas, and North Sioux City, South Dakota. The CEO of Foundry, Mike Colver, said: "It has been our mission to strengthen the infrastructure of digital assets by supporting mining companies through all market cycles. Compute North has been our longtime partner, and we are happy to have the opportunity to continue building upon the foundation they have laid over many years while growing the North American mining ecosystem."