Bankrupt mining provider Compute North sells assets to its former lender

Generate Capital is buying two mining facilities for $5 million from bankrupt mining hosting firm Compute North. New filings in Compute North’s bankruptcy proceedings show a deal has reached the court, with counsel filing a proposed order for the sale of its stake in the Wolf Hollow, Texas, and Kearney, Nebraska, mining facilities. Compute North did not receive any other qualifying bids for the assets in the lead up to the sale, and thus cancelled the planned auction and moved to consummate the agreement with Generate Capital. There is no planned merger or restructuring plan from Generate from the sale. The agreement does not cover assets that are owned by third parties but utilized at the sites.