Crypto Mining Data Center Provider Compute North Raises $385M

The company raised $85 million in an equity round and $300 million in debt financing.

AccessTimeIconFeb 9, 2022 at 12:00 p.m. UTC
Updated Feb 9, 2022 at 8:25 p.m. UTC
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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.

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Brandy covers crypto-related venture capital deals for CoinDesk.