Home Cryptocurrency Troubled Compute North data center struggles with crypto winter. Then his relationship with the main lender soured

Troubled Compute North data center struggles with crypto winter. Then his relationship with the main lender soured

by SuperiorInvest

In July, the lender asserted several “technical events of failure” that led to it taking control of Compute North’s assets. Generate Capital exercised its voting rights to acquire a subsidiary of Compute North, which owned two bitcoin mining sites that the two firms were developing. This included the Wolf Hollow site in Texas, which was initially slated to operate at 300 megawatts (MW) and later at 600 MW, making it the miner’s largest operation. Because Generate Capital has already foreclosed on the property, it is not counted among current creditors.

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