Does compute north have a Chapter 11 bankruptcy?

Compute North, which had raised $385 million this year, files for Chapter 11 bankruptcy protection. One of the crypto-mining centers hosted by Eden Prairie-based Compute North is in Kearney, Neb. These centers need huge amounts of electricity to run.

Did compute North file for bankruptcy in Texas?

Compute North, an Eden Prairie-based company that builds scalable data centers for blockchain, cryptocurrency mining and distributed computing firms, has filed for Chapter 11 bankruptcy protection in the Southern District of Texas.

Why did compute North go bankrupt?

Compute North in February announced a capital raise of $385 million, consisting of an $85 million Series C equity round and $300 million in debt financing. But it fell into bankruptcy as miners struggle to survive amid slumping bitcoin (BTC) prices, rising power costs and record difficulty in mining bitcoin.

What happened to compute North?

Compute North Holdings Inc., which provides data center services for cryptocurrency miners and blockchain companies, filed for bankruptcy in Texas on Thursday.