Crypto Mining Data Center Provider Compute North Raises $385M

Compute North, provider of sustainable infrastructure for cryptocurrency mining, has closed a $385 million round that includes a Series C fundraise and debt financing.

The round included an $85 million Series C funding co-led by Mercuria and Generate Capital plus $300 million in debt financing from Generate to fund the continued development of new U.S.-based data centers.
Minnesota-based Compute North offers proprietary Tier 0 data centers focusing on delivering sustainable, cost-effective computing. The company provides expandable infrastructure for clients in the blockchain, cryptocurrency mining and distributed computing space.
Compute North has rapidly expanded its footprint across the United States, including in Nebraska, North Carolina and Texas.
“Data centers are a growing part of energy demand and we’re excited to invest with Compute North to build digital infrastructure that can operate sustainably and efficiently while complementing a more resilient grid,” said Andrew Marino, senior managing director and head of corporate private equity at Generate, in a press release.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Brandy Betz

Brandy covers crypto-related venture capital deals for CoinDesk.

Follow @BrandyBetz on Twitter

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.