Compute North raises $385 million to expand mining infrastructure in the United States

Compute North, a provider of mining infrastructure solutions, attracted $385 million to develop new data centres in the United States.

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Of this amount, $85 million came from the Series C round led by Mercuria, Generate Capital and National Grid Partners.

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A further $300 million was secured by Compute North in the form of debt financing from Generate Capital, which participated in the investment round.

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The funds will be deployed to build new hosting facilities in the United States, in Nebraska, North Carolina and Texas. Founder and CEO Dave Perrill did not disclose the quantity and technical specifications of the new data centres.

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According to him, several facilities are at different stages of readiness.

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“We plan to share additional information about each facility as they come online,” Perrill said.

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In July 2021, Compute North announced the expansion of data-centre capacity to 1.2 GW with the construction of five new facilities. At that time the company operated three sites in Texas, Nebraska and South Dakota with a combined capacity of 100 MW.

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Earlier, in December, as it announced an expansion of its agreement with Marathon Digital to host the latter’s bitcoin miners, Compute North announced the launch of a new facility in Texas with a capacity of 280 MW in the first quarter of 2022.