Compute North sells assets for more than $1.5 million

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The bankruptcy court has allowed data center operator Compute North to sell more than $1.5 million worth of assets to mining company Crusoe Energy Systems.

As assets, Compute North will sell the company 11 containers for hosting mining equipment.On October 28, Crusoe Energy made a deposit of 187,000.Crusoe Energy operates modular data centers that are used to mine cryptocurrencies, consuming excess gas left over from oil production.

While other mining companies are fighting for liquidity by selling assets, Crusoe Energy is actively buying them up.The company recently acquired the miners and data center of its competitor Great American Mining, and in July struck a deal with electricity supplier Easter-Owens Electric Co.

Recall that Compute North filed for bankruptcy in September, saying it had from$100 million to $500 million in both estimated liabilities and estimated assets.He recently agreed to sell two mining operations to his former lender Generate Capital for $5 million.

The liquidity crisis in the cryptocurrency market forced the mining company Argo Blockchain in October to start selling off recently purchased equipment, as well as start looking for new investors.