Compute North, a Eden Praire, Minn.-based provider of a sustainable, large-scale computing infrastructure, closed its growth capital round of $385m.
The round was comprised of:
- $85 million in the initial Series C equity closing, co-led by Mercuria and Generate Capital with additional investors including National Grid Partners, and
- $300 million in debt financing from Generate to fund new projects.
The company will use the funds for the continued development of new U.S.-based data centers, expanding capacity and enabling further growth.
Led by Dave Perrill, CEO, Compute North is the leader in TIER 0™ data centers, the scalable infrastructure for clients in the blockchain, cryptocurrency mining and the distributed computing space. With operations across the United States, the company brings a unique combination of data center, energy, and technology expertise to meet the growing demand for purpose-built infrastructure solutions for highly specialized computing needs.
Compute North is rapidly expanding its presence with the development of numerous new facilities in the United States including Nebraska, North Carolina and Texas.