Crypto-Mining Data Center Compute North Files for Bankruptcy, CEO Steps Down
Compute North, one of the largest operators of crypto-mining data centers, filed for bankruptcy and revealed that its CEO stepped down as the rout in cryptocurrency prices weighs on the industry.
The company filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas, according to a filing.
Compute North in February announced a capital raise of $385 million, consisting of an $85 million Series C equity round and $300 million in debt financing. But it fell into…