Troubled Data Center Compute North Struggled With Crypto Winter. Then Its Relationship With a Major Lender Soured cryptomarketbag

In July, the lender asserted multiple “technical events of default” that led to Compute North Assets taking control. Generate Capital exercised its voting rights to acquire the Compute North subsidiary, which owned two bitcoin mining sites the two firms were developing. This includes the Wolf Hollow site in Texas, slated to operate initially at 300 megawatts (MW) of capacity, and at a later stage at 600 megawatts, which would make it the miner’s largest operation. Since Generated Capital has already seized assets, it is not counted among existing creditors.

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