Compute North Files Chapter 11 Bankruptcy Protection

The crypto-mining Date Center Compute North has sought the files of Chapter 11 bankruptcy protection for the Southern District of Texas based on documents of the US Bankruptcy Court.

Compute North is the leading operator of crypto-mining data. This company has raised successfully $385 million and still had many great deals with large companies around the world. This funding includes $85 million in the Series C round and $300 million for other debt financings.

This company has 4 branches in the US, including two facilities in Texas, one in South Dakota, and one in Nebraska. Compute North partners with large companies such as Marathon Digital (MARA), Compass Mining and Atlas Mining, The9, and BitNile Holdings (NILE)

Actually, a bankruptcy filing is a negative impact on the data-mining industries. BTC has fallen without a promised comeback, and miners are struggling to survive the rising power costs and other difficulties around.

On July, one unit of Celsius Network also filed for Bankruption protection in the US Bankruptcy Court. Poolin Wallet – one of the most largest BTC mining pools, announced to issue IOU tokens for users affected by the frozen withdrawals.

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