News

Foundry Digital Buying Two Crypto Mining Facilities From Compute North

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.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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