Foundry Buys Compute North Cryptomining Assets for $14 Million

Bankrupt cryptocurrency mining service provider Compute North Holdings Inc. won court approval to sell two mining facilities and other assets to lender Foundry Digital Inc. for approximately $14 million.

Foundry, a Digital Currency Group subsidiary, agreed to buy Compute North’s mining facilities in Big Springs, Texas and North Sioux City, South Dakota, comprising 17 megawatts of operating capacity. The sale approval comes about two months after the company filed for bankruptcy.

The purchase agreement, approved by the US Bankruptcy Court for the Southern District of Texas on Tuesday, also includes rights for Foundry to build out and operate a Compute ...