Crusoe Energy continues to buy capacity from bankrupt miners
After court approval, Compute North has decided to sell the capacity. The transaction is tentatively valued at $1.5 million.
Crusoe Energy paid $187,000 as a security deposit last month. The object of the transaction is containers with mining equipment. The buyer plans to mine cryptocurrencies using gas generated by oil production.
Against the backdrop of the recent situation in the crypto market, which has forced some miners to actively sell capacity to cover the increased costs, others are actively buying them in large quantities. It is not the first deal for Crusoe Energy to buy capacity. Earlier it also signed a contract to supply electricity.
As for Compute North, the company is in bankruptcy proceedings, and its assets and liabilities according to various estimates do not exceed $500 million. Recently, two facilities belonging to Compute North were sold to Generate Capital, which used to be a creditor and paid $5 million for them.