Crypto Miner Compute North Files for Bankruptcy

Mining firm and provider of infrastructure solutions for cloud mining Compute North has filed for bankruptcy.

According to the filing, its liabilities to 200 counterparties are estimated at $500 million, and its assets range from $100 million to $500 million.

The company’s CEO Dave Perrill has stepped down as CEO but has remained on the board of directors.

The crypto miner is currently developing a plan for the restructuring of activities.

Compute North has cited the ongoing bear market and rising energy costs as the reason for the decision.