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Bitcoin Miner BitNile Pulls 6,500 Rigs From Former Compute North Site

The company signed a hosting deal in August with now-bankrupt Compute North for a site that is now managed by USBTC.

By Eliza Gkritsi
AccessTimeIconFeb 10, 2023 at 1:45 p.m. UTC
Updated May 9, 2023 at 4:07 a.m. UTC
Wolf Hollow power plant in Texas (Compute North)
Wolf Hollow power plant in Texas (Compute North)

BitNile, a subsidiary of publicly traded Ault Alliance (AULT), is removing 6,572 mining rigs from a Texas facility that was formerly owned by Compute North, calling the site "no longer economically viable."

With 300 megawatts (MW) of power capacity, the Wolf Hollow site was acquired by lender Generate Capital after Compute North filed for bankruptcy protection in late September. U.S. Bitcoin Corp. (USBTC), which was also a Compute North client, is now managing operations at Wolf Hollow. USBTC this week agreed to merge with Hut 8 Mining (HUT).

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    • About one month prior to the Compute North bankruptcy filing, BitNile had signed an agreement with Compute North to host its machines. The mining rigs now have begun being shipped to another location, said BitNile in a Friday statement. Ault Executive Chairman Milton “Todd” Ault III called the situation "very frustrating."

    Read more: Shares of Bitcoin Miner Hut 8 Slump on Merger With US Bitcoin Corp.




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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Eliza Gkritsi
    Eliza Gkritsi

    Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI.

    Follow @egreechee on Twitter