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Mining firm Compute North Files for Chapter 11 Bankruptcy

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Crypto mining firm Compute North has filed for Chapter 11 bankruptcy protection in a federal court. The bitcoin mining hosting provider had been struggling to survive due to the decline in bitcoin pricing and rising power costs.

Compute North filed the petition in the U.S. Bankruptcy Court for the Southern District of Texas on Thursday. «After any administrative expenses are paid, no funds will be available for distribution to unsecured creditors,» the company claimed in the filing.

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