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Eden Prairie-based crypto firm files for bankruptcy

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Eden Prairie-based crypto firm files for bankruptcy

Eden Prairie-based Compute North, which operates crypto-mining hubs, has filed for bankruptcy.

The company filed for Chapter 11 bankruptcy in Texas on Thursday, Bloomberg reports. He cited the rising cost of electricity and the lag between building the centers and generating revenue.

Compute North owed up to $500 to more than 200 creditors, according to Yahoo! Finance. In addition to filing for bankruptcy, the company’s CEO, Dave Perrill, also stepped down.

In addition to its headquarters in Eden Prairie, Compute North also operates facilities in Texas, Nebraska and South Dakota.

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