Crypto mining company Foundry Digital will acquire facilities from bankrupt Bitcoin (BTC) mining company Compute North.
One of the sectors affected by the consequences of the crypto bear market was Bitcoin (BTC) mining. Investors exiting the crypto industry and the crypto market capitalization of $ 800 billion came to the fore. The miners of the crypto market sought ways to survive due to the difficult processes experienced. However, some mining companies could not avoid going bankrupt. One of these companies, Compute North, continues to sell assets to pay its creditors. Finally, Foundry Digital will also buy assets from the bankrupt mining company.
Foundry Digital Acquires Compute North’s Facilities
Cryptocurrency mining and staking company Foundry Digital is dealing with Compute North, which has filed for bankruptcy in recent months. The company will acquire Compute North’s two key facilities.
In addition, the company stated that they will purchase a third facility under development in an agreement with Compute North. This option is also on the table.
The two properties Foundry is looking to acquire are located in the South Dakota and Texas regions. In addition, the bankrupt mining company will transfer the rights to the Nebraska facility.
Among the clauses of the agreement is a fleet of mining machines.
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