Crusoe Energy Systems will purchase 11 containers from <a href="https://www.cryptoknowmics.com/news/bitcoin-mining-firm-bitfarms-settles-27-million-in-debt">bitcoin</a> hosting company Compute North for about $1.55 million. According to <a href="https://document.epiq11.com/document/getdocumentbycode?docId=4120276&amp;projectCode=CPN&amp;source=DM" target="_blank" rel="nofollow noopener">paperwork</a> submitted on Wednesday, the transaction was authorized by the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division.
<h2>Crusoe Energy On Buying Binge</h2>
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 <a href="https://www.cryptoknowmics.com/news/binance-launches-recovery-fund-for-crypto-projects-facing-liquidity-crisis">liquidity</a> and have been compelled to liquidate assets.
<h2>Employment in Natural Gas</h2>
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.

Crusoe Buys $1.55M in Assets from Bankrupt Compute North

Crusoe Energy Systems will purchase 11 containers from Compute North for about $1.55 million, according to paperwork submitted on Wednesday.

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Crusoe Buys $1.55M in Assets from Bankrupt Compute North

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