Foundry To Acquire Two Turnkey Mining Facilities from Compute North, Plus Right to Acquire Third Facility Under Development
Foundry has entered into an asset purchase agreement with Compute North to acquire two facilities with total power capacity of 17 MW and an option to acquire rights to complete buildout of a third site started by Compute North
ROCHESTER, N.Y., Nov. 22, 2022 /PRNewswire/ — Foundry Digital LLC (“Foundry” or the “Company”), a wholly-owned subsidiary of Digital Currency Group (“DCG”), focused on digital asset mining and staking, announced today that it has entered into an asset purchase agreement to acquire two turnkey cryptocurrency mining facilities and other assets, and an option to acquire a third facility that is under development, from large-scale computing infrastructure company Compute North.
The acquisition, when consummated, would include:
- two turnkey sites located in North Sioux City, SD and Big Springs, TX that have a fully operational capacity of 6 MW and 11 MW, respectively;
- rights to completely buildout and operate Compute North’s facility in Minden, NE;
- a fleet of mining machines owned by Compute North; and
- intellectual property, including rights associated with MinerSentry, Compute North’s proprietary cloud-based management and monitoring software for data centers of scale.
“It has been our mission to strengthen the infrastructure of digital assets by supporting mining companies through all market cycles,” said Mike Colyer, CEO of Foundry. “Compute North has been our longtime partner and we are happy to have the opportunity to continue building upon the foundation they have laid over many years while growing the North American mining ecosystem.”
Founded by DCG in late 2019, Foundry has emerged as a leader in the global cryptocurrency mining industry. Foundry’s mining-focused business ventures — the FoundryX marketplace for mining machines, the Foundry USA Pool, Foundry Academy, Foundry Logistics and Foundry Deploy — are all among the most recognizable names in their respective fields.
A subsidiary of DCG, Foundry was created to meet the institutional demand for better capital access, efficiency and transparency in the digital asset mining and staking industry. Headquartered in Rochester, NY, Foundry leverages its institutional expertise, capital and market intelligence to empower participants within the crypto ecosystem by providing the tools they need to build tomorrow’s decentralized infrastructure. For more information, please visit foundrydigital.com.
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SOURCE Foundry Digital LLC