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

Brandy covers crypto-related venture capital deals for CoinDesk.

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.

Read more about

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.

CoinDesk - Unknown

Brandy covers crypto-related venture capital deals for CoinDesk.

CoinDesk - Unknown

Brandy covers crypto-related venture capital deals for CoinDesk.

Trending

1
CoinDesk - Unknown
Lending Platform Vauld Looks to Restructure Amid Crypto Downturn, Suspends Transactions

Vauld has seen withdrawals of around $198 million since June 12.

CoinDesk - Unknown
2
CoinDesk - Unknown
Solana DeFi Protocol Crema Loses $8.8M in Exploit

Crema Finance developers said they are coordinating with “relevant organizations” to gather more information.

CoinDesk - Unknown
3
CoinDesk - Unknown
Software Firm Meitu Lost Up to $52.3M in H1 Due to Slide in Crypto Prices

The app developer had bought 940.89 BTC and 31,000 ETH in spring of 2021.

CoinDesk - Unknown
4
CoinDesk - Unknown
Argentines Take Refuge in Stablecoins After Economy Minister Resignation

Major crypto exchanges reported that consumers purchased up to three times as many stablecoins over the weekend as they usually do amid a brewing economic crisis.

CoinDesk - Unknown