Bitcoin miner Compute North will sell two facilities with a combined 17 megawatts (MW) of capacity to crypto mining and staking company Foundry.
According to the statement, Foundry will buy two turnkey sites located in North Sioux City, SD, and Big Springs, TX, with a fully operational capacity of 6 MW and 11 MW, respectively.
Mike Colyer, CEO of Foundry, stated:
“Compute North has been our longtime partner and we are happy to have the opportunity to continue building upon the foundation they have laid over many years while growing the North American mining ecosystem.”
Following the agreement, Foundry will also have the right to fully renovate and run Compute North’s plant in Minden, Nebraska. The agreement will also cover the miner’s intellectual property and a fleet of its mining equipment.
The company is a subsidiary of Digital Currency Group (DCG). In the aftermath of FTX’s collapse, DCG’s Genesis ceased redemptions and new loan originations last week, maybe declaring bankruptcy.
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