Did generate cause compute North's bankruptcy?

Generate did not cause Compute North’s bankruptcy, the lender’s lawyer, Christopher Marcus, told the judge overseeing the case during a hearing Friday morning. Generate took action in order to preserve the value of its collateral, Marcus said. Compute North owes as much as $500 million to at least 200 creditors.

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.

How much money does compute North owe?

Generate took action in order to preserve the value of its collateral, Marcus said. Compute North owes as much as $500 million to at least 200 creditors. The company’s assets are worth between $100 million and $500 million, according to its court petition.

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.