compute north – DIGIT INFO

Massachusetts-Based Bankprov to End Loan Offerings Secured by Cryptocurrency Mining Rigs

DIGIT — Wed, 01 Feb 2023 01:45:03 +0000

The Amesbury, Massachusetts-based Bankprov, a subsidiary of Provident Bancorp, has announced that it will no longer provide loans secured by cryptocurrency mining rigs. In a filing with the U.S. Securities and Exchange Commission (EX-99.1), Bankprov stated that revenue from its digital asset loan portfolio will continue to decrease as the company has discontinued new loan […]

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Bitcoin hashrate recovers after big freeze shuts down miners

DIGIT — Mon, 26 Dec 2022 03:40:30 +0000

The Bitcoin network hashrate has returned to 241.29 EH/s after a temporary 38% fall to 170.60 EH/s from a weekly peak of 276.40 EH/s.

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Crypto Lender Blockfi Files for Bankruptcy Protection to ‘Maximize Value for All Clients’

DIGIT — Mon, 28 Nov 2022 19:00:49 +0000

On Nov. 28, 2022, the crypto lender Blockfi informed the public via a press release that the company has voluntarily petitioned for Chapter 11 bankruptcy protection. Blockfi is now one of many digital currency businesses dealing with significant financial hardships and bankruptcy proceedings in 2022. Blockfi Voluntarily Petitions for Chapter 11 Bankruptcy Protection Blockfi has […]

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DCG Subsidiary Foundry to Acquire 2 ‘Turnkey’ Bitcoin Mining Facilities From Compute North

DIGIT — Wed, 23 Nov 2022 08:00:13 +0000

Digital asset mining and staking firm Foundry has agreed to purchase two “turnkey” bitcoin mining facilities from Compute North, a bitcoin miner that filed for Chapter 11 bankruptcy protection on Sept. 22, 2022. Foundry says the two data centers have a total power capacity of around 17 megawatts (MW), and the company also has the […]

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2 Lenders Claim Bitcoin Miner Iris Energy Defaulted on Equipment Loans Worth $103 Million

DIGIT — Tue, 08 Nov 2022 09:30:10 +0000

Another bitcoin mining company is dealing with financial issues as Iris Energy’s Form 6-K filing with the U.S. Securities and Exchange Commission (SEC) shows the company could face default on two loans. Iris Energy’s Form 6-K filing explains to the SEC that the firm “received a notice from its lender alleging the occurrence of an […]

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Publicly-Listed Bitcoin Miner Argo Blockchain’s Stock Gets Downgraded, Firm Offloads Close to 4,000 Bitmain Miners

DIGIT — Wed, 02 Nov 2022 04:30:54 +0000

On Oct. 31, 2022, the publicly-listed bitcoin miner Argo Blockchain revealed the firm’s attempt to obtain $27 million in a scheduled financing deal fell through. According to the company’s October update, Argo said it did not believe the deal “will be consummated” and now two market analysts have downgraded the company’s shares. Argo Blockchain’s $27 […]

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Marathon reports $80M exposure to bankrupt mining firm

DIGIT — Fri, 07 Oct 2022 03:04:44 +0000

Marathon has outlined that at this stage its operations hosted by Compute North will continue to operate as usual, and highlighted an improved BTC mining production in Q3.

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Bitdeer Sets Up $250M Fund to Acquire Assets From Financially Distressed Bitcoin Miners

DIGIT — Wed, 28 Sep 2022 04:30:10 +0000

According to a representative from the bitcoin mining company backed by the Chinese crypto billionaire Jihan Wu, Bitdeer is crafting a $250 million fund to buy distressed assets from embattled bitcoin miners. Bitdeer’s chief executive officer Matt Kong details that “opportunities” arise in “every cycle.” Bitdeer Wants to Acquire Cheap Machines From Distressed Bitcoin Miners […]

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Bitcoin Miner Marathon Digital’s Shares Downgraded After Compute North Files for Bankruptcy Protection

DIGIT — Fri, 23 Sep 2022 18:30:43 +0000

Bitcoin mining firm Compute North filed for Chapter 11 bankruptcy protection in Texas on Thursday as the crypto winter continues to put pressure on crypto mining operations. The bankruptcy petition filed on September 22, indicates the company looks to stabilize operations in order to repay creditors. Compute North Files for Chapter 11 Bankruptcy Protection Five […]

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BTC mining firm Compute North files for bankruptcy

DIGIT — Fri, 23 Sep 2022 05:31:28 +0000

Compute North’s hosting partners Compass Mining have stated that the firm will continue to operate business as usual at this stage.

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