menuIcon
$ 82,917.3
BTC
$ 82,917.3
-1.02 %
$ 1,833.51
ETH
$ 1,833.51
-2.57 %
$ 0.6779
ADA
$ 0.6779
-1.59 %
$ 607.87
BNB
$ 607.87
0.13 %
$ 125.37
SOL
$ 125.37
-1.21 %
Gungun Bhatia
Nov 17, 2022
by Gungun Bhatia

Crusoe Buys $1.55M in Assets from Bankrupt Compute North

Crusoe Compute North

Table of contents

  1. Crusoe Energy On Buying Binge
  2. Employment in Natural Gas
Crusoe Energy Systems will purchase 11 containers from bitcoin hosting company Compute North for about $1.55 million. According to paperwork submitted on Wednesday, the transaction was authorized by the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division.

Crusoe Energy On Buying Binge

According to the petition, Crusoe had previously deposited $187,000 on October 28. Before the deadline, the business didn't get any further qualified bids. Crusoe has been on a buying binge, purchasing its rival Great American Mining in October and the electrical maker Easter-Owens Electric Corporation in July. Other businesses in the bitcoin mining sector have struggled with liquidity and have been compelled to liquidate assets.

Employment in Natural Gas

The Denver-based startup employs natural gas that would typically be flared to power modular data centers. To help its mining business develop faster, it completed a $505 million Series C financing.

The projected assets and liabilities of Compute North, which filed for Chapter 11 bankruptcy in September, ranged from $100 million to $500 million. Additionally, it recently reached an agreement to sell two mining sites to its previous financier Generate Capital for $5 million.

Follow us on: News
Bitcoin Compute North Crusoe Energy Systems U.S. Bankruptcy Court for the Southern District of Texas compute north greenville compute north wiki ro shirole compute north compute north spac
Crusoe Buys $1.55M in Assets from Bankrupt Compute North
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

Top Picks