Compute North, an Eden Praire, Minn.-based economical, large-scale computing infrastructure and cryptocurrency mining company, closed a $25m debt financing and equity round.
The debt capital comes in the form of a senior secured loan from Post Road Group, a US-based, investment group that focuses on private credit and private equity investments in telecommunications, media, technology, business services, and real estate.
The company, which simultaneously closed a strategic equity round including industry leaders, family offices, and strategic partners, intends to use the funds to expand capacity, innovate services, and expand its team.
Led by Dave Perrill, CEO, Compute North provides scalable infrastructure for clients in the blockchain, cryptocurrency mining and the high-performance computing space. With operations in Texas, South Dakota, and Nebraska, Compute North brings a combination of data center, energy, and computing expertise to build and operate facilities that are designed to scale quickly and operate cost-efficiently. The company recently announced over 47MW of inbound equipment from Digital Currency Group.