Generate Capital to buy bankrupt bitcoin miner Compute North's stake in 2 bitcoin mining facilities

2022/11/01 23:44

According to Coindesk, lending firm Generate Capital is buying up bitcoin mining hosting firm Compute North's stake in two mega-mining facilities for $5 million, Tuesday bankruptcy filings show. Generate is fully buying out Compute North's sites for $5 million and is assuming several liabilities associated, including obligations to clients that host their machines at their sites, according to the agreement. Compute North, one of the largest bitcoin mining firms in the world, declared bankruptcy in late September, saying it can't fulfill debt obligations worth up to $500 million.

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