Compute North to Sell Crusoe’s Mining Equipment for $1.55 Million

A Texas bankruptcy court одобрил продажу провайдером блокчейн-хостинга Compute North компании Crusoe Energy Systems одиннадцати контейнеров для майнинга примерно за $1,55 млн.

According to documents, the latter has already posted a $187,000 deposit.

Compute North filed for bankruptcy in September. The firm said its assets, as well as its liabilities to around 200 counterparties, were in the range of $100 million to $500 million.

Earlier the company agreed to sell two data centers for cryptocurrency mining to former creditor — Generate Capital. The deal was worth $5 million, according to The Block.

Crusoe is engaged in Bitcoin mining, using energy from flaring associated gas at shale oil sites in the United States. The firm places modular Digital Flare Mitigation installations directly beside the wells.

In April, Crusoe raised $350 million in a Series C funding round.

In the current bear market, the firm has been actively pursuing acquisitions. In June Crusoe acquired modular-data-center manufacturers and Easter-Owens Electric, a maker of specialized energy systems. Previously the companies had worked closely for several years.

In October Crusoe acquired the operating assets of Great American Mining, which also mined Bitcoin on flare gas. Through the deal, the Colorado-based firm increased its mining capacity by about 9% and established commercial relationships with several major oil companies in the Bakken formation area in North Dakota and Montana.

As reported, following Compute North’s bankruptcy, one of the largest publicly traded mining companies Core Scientific warned of potential insolvency. The firm has faced a class-action lawsuit from investors.

Concerns about financing problems and potential shutdowns of cryptocurrency mining were stated by British Argo Blockchain.

Read ForkLog’s Bitcoin news in our Telegram — cryptocurrency news, rates and analysis.