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Crypto Mining and Staking Firm Foundry Buys Some of Troubled Bitcoin Miner Compute North's Assets

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Crypto mining and staking firm Foundry will buy Compute North's sites in North Sioux City, S.D. and Big Springs, Texas that have a fully operational capacity of six MW and 11 MW, respectively, according to a statement on Tuesday.

Compute North, one of the world's largest bitcoin mining firms, said in September that it couldn't fulfill debt obligations worth up to $500 million. Since then, its assets have been sold off to different entities, including its own lender, Generate Capital, which bought the company's stake in two mega-mining facilities for $5 million, earlier this month.

As part of the deal, Foundry will also have rights to completely build out and operate Compute North's facility in Minden, Neb. The deal will also include rights to a fleet of mining machines owned by the miner, as well as its intellectual property, the statement said.

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