{"id":70483,"date":"2022-11-23T12:44:41","date_gmt":"2022-11-23T10:44:41","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=70483"},"modified":"2025-09-08T02:32:27","modified_gmt":"2025-09-07T23:32:27","slug":"foundry-to-buy-two-mining-centres-from-the-bankrupt-compute-north","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/foundry-to-buy-two-mining-centres-from-the-bankrupt-compute-north\/","title":{"rendered":"Foundry to buy two mining centres from the bankrupt Compute North"},"content":{"rendered":"<p>The DCG-owned Foundry Digital <a href=\"https:\/\/www.prnewswire.com\/news-releases\/foundry-to-acquire-two-turnkey-mining-facilities-from-compute-north-plus-right-to-acquire-third-facility-under-development-301685734.html\">\u0437\u0430\u043a\u043b\u044e\u0447\u0438\u043b\u0430<\/a> agreement with Compute North to acquire two operating cryptocurrency mining facilities and other assets.<\/p>\n<p>DCG&#8217;s subsidiary also received an option to purchase an unfinished mining facility of the blockchain-hosting provider, which is <a href=\"https:\/\/forklog.com\/en\/news\/compute-north-files-for-bankruptcy\">in the process of bankruptcy<\/a>.<\/p>\n<p>Foundry expects to receive, upon completion of the deal:<\/p>\n<ul class=\"wp-block-list\">\n<li>two turnkey data centres in North Sioux City, South Dakota and Big Spring, Texas, with capacities of 6 MW and 11 MW respectively;<\/li>\n<li>the right to complete construction and operate the facility in Minden, Nebraska;<\/li>\n<li>Compute North&#8217;s equipment park;<\/li>\n<li>intellectual property for the provider&#8217;s proprietary MinerSentry cloud software for data-centre management.<\/li>\n<\/ul>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Our mission is to strengthen the infrastructure of digital assets, supporting mining companies through all market cycles. Compute North has been our long-time partner, and we are pleased to have the opportunity to continue building on the foundation they have laid over many years, advancing the mining ecosystem in North America,&#8221; said Foundry CEO Mike Colyer.<\/p>\n<\/blockquote>\n<p>In August 2020, Foundry <a href=\"https:\/\/forklog.com\/en\/news\/digital-currency-groups-barry-silbert-enters-bitcoin-mining\">became 100% a &#8220;subsidiary&#8221;<\/a> of DCG. The company runs <a href=\"https:\/\/forklog.com\/en\/news\/foundry-mining-pool-leads-hash-rate\">the largest by hashrate<\/a> Bitcoin mining pool and a marketplace for mining equipment <a href=\"https:\/\/forklog.com\/en\/news\/foundry-mining-pool-to-launch-marketplace-for-selling-bitcoin-mining-equipment\">FoundryX<\/a>.<\/p>\n<p>The agreement with Compute North comes amid concerns within the community <a href=\"https:\/\/forklog.com\/en\/news\/rumours-of-dcg-troubles-surface-as-ftx-collapse-unfolds\">about DCG&#8217;s financial resilience<\/a>. On November 16, another group subsidiary, the OTC platform Genesis Global Capital, <a href=\"https:\/\/forklog.com\/en\/news\/genesis-global-capital-suspends-crypto-lending-operations\">froze withdrawals<\/a> and the issuance of new loans after <a href=\"https:\/\/forklog.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">the FTX collapse<\/a>.<\/p>\n<p>According to media, even before this decision the firm <a href=\"https:\/\/forklog.com\/en\/news\/genesis-global-capital-sought-emergency-financing-of-1-billion-reports-say\">sought emergency financing<\/a> of $1 billion to plug liquidity shortfalls.<\/p>\n<p>According to Messari founder and CEO Ryan Selkis, Genesis would need to raise at least $500 billion to <a href=\"https:\/\/forklog.com\/en\/news\/messari-founder-outlines-best-case-scenario-for-a-struggling-dcg\">avoid bankruptcy<\/a>.<\/p>\n<p>According to The Wall Street Journal, the Bitcoin exchange Binance <a href=\"https:\/\/forklog.com\/en\/news\/wsj-binance-declines-to-rescue-genesis-global-capital\">refused to bail out<\/a> the OTC platform.<\/p>\n<p>In the mining industry, one of the sector&#8217;s largest players \u2014 Core Scientific \u2014 warned of potential insolvency. British Argo Blockchain said there were serious financing problems and possible cessation of mining operations of cryptocurrency.<\/p>\n<p>Earlier in November, a bankruptcy court approved the sale by Crusoe Energy Systems of eleven mining containers from Compute North for about $1.55 million.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The DCG-owned Foundry Digital has signed an agreement with Compute North to acquire two operating cryptocurrency mining facilities and other assets.<\/p>\n","protected":false},"author":1,"featured_media":70484,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,1137,1506],"class_list":["post-70483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-cryptocurrency-mining","tag-foundry"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=70483"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70483\/revisions"}],"predecessor-version":[{"id":70485,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70483\/revisions\/70485"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/70484"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=70483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=70483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=70483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}