Compute North, a BTC Mining Company, Files Bankruptcy

Created By Jyotish

Compute North, a company that hosts bitcoin (BTC) mining operations, has filed for chapter 11 bankruptcy.

while the company is under increasing strain from the impacts of harsh winter and increased energy prices  

However, the company will still on the operations in order to repay the creditor

According to the statement, Compute North owes 200 creditors around $500 million 

Whereas its assets are said to be worth between $100 million and $500 million. 

Basically, Compute North provides hardware, hosting services, large-scale crypto mining facilities, hardware, and a BTC mining pool.

The mining industry has been significantly impacted this year by the negative performance of BTC in 2022. 

A expensive delay to a sizable mining plant in Texas that it was unable to profit from for months may have had an effect on Compute North.