Compute North, a U.S.-based large-scale computing infrastructure and cryptocurrency mining firm, announced on Thursday it raised $25 million in debt financing and equity to expand capacity and enable further growth. Founded in 2017, Compute North states it delivers high-performance cryptocurrency mining and infrastructure solutions to customers around the globe.
“Put simply, we mine, trade, advise and invest in these technologies with our steadily growing infrastructure. We are not speculators. We are cryptocurrency enthusiasts, investors and entrepreneurs. We enable you to quickly, easily and affordably participate in this dynamic opportunity.”
Compute North further revealed the debt capital comes in the form of a senior secured loan from Post Road Group, a U.S.-based, investment group that focuses on private credit and private equity investments in telecommunications, media, technology, business services, and real estate. Speaking about the investment, Dave Perrill, CEO of Compute North, stated:
“We started Compute North because we saw a unique opportunity to bring together our data center and power expertise and offer our customers a better alternative. We have stood out by providing best in class service, fair and transparent pricing and operational excellence. This injection of capital allows the company to meet customer demand, innovate our services, and expand our great team.“
Compute North is planning to use the funds to continue the growth and development of its platform.