Bitcoin Miner Compute North Closes $385M in Equity and Debt Funding

Bitcoin mining infrastructure company Compute North has completed a $385 million equity and debt financing. Among them, the US$85 million equity financing was jointly led by Mercuria and Generate Capital, and National Grid Partners, a subsidiary of National Grid, participated in the investment. The $300 million in debt financing was also funded by Generate Capital. Compute North refers to the equity round as its Series C round and the overall round as a growth capital round. Minnesota-based Compute North plans to use the new funding to open new hosting facilities in Nebraska, North Carolina and Texas, among others. Compute North founder and CEO Dave Perrill declined to say how many new facilities the company plans to open or their total capacity, but he said several are in various stages of development. (The Block)