DCG's Foundry Digital is buying two cryptocurrency mining facilities and other assets from Compute North. It has an option to acquire a third facility that is under development.
The deal comes as reports swirl that DCG’s Genesis, whose Global Capital suspended redemptions and new loan originations last week in the wake of FTX's collapse, may be filing for bankruptcy.
"It has been our mission to strengthen the infrastructure of digital assets by supporting mining companies through all market cycles," Mike Colyer, CEO of Foundry, said. "Compute North has been our longtime partner and we are happy to have the opportunity to continue building upon the foundation they have laid over many years while growing the North American mining ecosystem."