Crypto Mining Data Center Provider Compute North Raises $385M

Compute North, provider of sustainable infrastructure for cryptocurrency mining, has closed a $385 million round that includes a Series C fundraise and debt financing.

• The round included an $85 million Series C funding co-led by Mercuria and Generate Capital plus $300 million in debt financing from Generate to fund the continued development of new U.S.-based data centers.
• Minnesota-based Compute North offers proprietary Tier 0 data centers focusing on delivering sustainable, cost-effective computing. The company provides expandable infrastructure for clients in the blockchain, cryptocurrency mining and distributed computing space.
• Compute North has rapidly expanded its footprint across the United States, including in Nebraska, North Carolina and Texas.
• “Data centers are a growing part of energy demand and we’re excited to invest with Compute North to build digital infrastructure that can operate sustainably and efficiently while complementing a more resilient grid,” said Andrew Marino, senior managing director and head of corporate private equity at Generate, in a press release.

Read more: Atlas Taps Compute North to Expand ESG-Focused Bitcoin Mining