Crypto-miner datacenter files for bankruptcy
The hosting service Compute North is bankrupt.
The hosting service Compute North is bankrupt. The Minnesota-based company filed for bankruptcy in a Texas court on Friday, attaching the bankruptcy petition. A blend of rising energy costs and plunging stock prices ultimately proved fatal for the outfit.
Documents show the data center owes about half a billion dollars to at least 200 creditors. Compute North estimates its assets at $100 to $500 million.
Compute North launched in 2017 as a traditional crypto miner, but quickly shifted its focus to providing hosting services for other crypto miners.
Among the company’s clients were industrial heavyweights like Marathon Digital and Compass Mining. The traditional mining activity is not affected by the bankruptcy, according to both companies on Twitter.
