Foundry will purchase two turnkey mining facilities from Compute North, with the option to purchase a third facility that is currently being built.

Dedicated to mining and staking digital assets, Foundry Digital LLC ("Foundry" or the "Company"), a wholly-owned subsidiary of Digital Currency Group ("DCG"), announced today that it has signed an asset purchase agreement to buy two turnkey cryptocurrency mining facilities and other assets, as well as the right to buy a third facility that is still under construction, from large-scale computing infrastructure provider Compute North.

When completed, the acquisition would consist of:

Rights to fully buildout and run Compute North's facility in Minden, NE; a fleet of mining equipment owned by Compute North; intellectual property, including rights to MinerSentry, Compute North's exclusive cloud-based management and monitoring software for data centers of scale; and two turnkey sites with fully operational capacities of 6 MW and 11 MW each located in North Sioux City, SD and Big Springs, TX.

According to Foundry CEO Mike Colyer, "it has been our objective to improve the infrastructure of digital assets by helping mining companies through all market cycles." "Compute North has been a longtime collaborator of ours, and we are excited about the chance to build on the foundation they have established over the years while expanding the North American mining environment."

Foundry, which DCG founded in the latter part of 2019, has become a pioneer in the world of cryptocurrency mining. The Foundry USA Pool, Foundry Academy, Foundry Logistics, and Foundry Deploy are a few of Foundry's mining-focused company endeavors that are among the most well-known in their respective industries.

About Foundry

Foundry, a DCG company, was established to satisfy the institutional demand for improved capital access, efficiency, and transparency in the mining and staking of digital assets. The Rochester, New York-based Foundry uses its institutional know-how, resources, and market intelligence to provide participants in the cryptocurrency ecosystem with the tools they need to create tomorrow's decentralized infrastructure. Please visit foundrydigital.com for further details.

Article Credit: PR News Wire

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