Share this article
Bitcoin Miner BitNile Pulls 6,500 Rigs From Former Compute North Site
The company signed a hosting deal in August with now-bankrupt Compute North for a site that is now managed by USBTC.
Updated May 9, 2023, 4:07 a.m. Published Feb 10, 2023, 1:45 p.m. 1 min read
BitNile, a subsidiary of publicly traded Ault Alliance (AULT), is removing 6,572 mining rigs from a Texas facility that was formerly owned by Compute North, calling the site "no longer economically viable."
With 300 megawatts (MW) of power capacity, the Wolf Hollow site was acquired by lender Generate Capital after Compute North filed for bankruptcy protection in late September. U.S. Bitcoin Corp. (USBTC), which was also a Compute North client, is now managing operations at Wolf Hollow. USBTC this week agreed to merge with Hut 8 Mining (HUT).
About one month prior to the Compute North bankruptcy filing, BitNile had signed an agreement with Compute North to host its machines. The mining rigs now have begun being shipped to another location, said BitNile in a Friday statement. Ault Executive Chairman Milton “Todd” Ault III called the situation "very frustrating."
Read more: Shares of Bitcoin Miner Hut 8 Slump on Merger With US Bitcoin Corp.
More For You
USAT's market cap jumped above $140 million in April, though it remains well behind Circle's USDC, PayPal's PYUSD and Ripple's RLUSD tokens.
What to know:
- Tether’s U.S.-focused stablecoin USAT grew more than sixfold in April to $140.8 million, the token's latest reserve report shows.
- Tether USAT's chief executive said the surge reflects growing institutional use for treasury management, settlements and regulated dollar liquidity.
- Launched in January, USAT remains far smaller than its rivals targeting U.S....
Top Stories
