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BitNile, a subsidiary of publicly traded Ault Alliance (AULT), is removing 6,572 mining rigs from a Texas facility that was formerly owned by Compute North, calling the site "no longer economically viable."
With 300 megawatts (MW) of power capacity, the Wolf Hollow site was acquired by lender Generate Capital after Compute North filed for bankruptcy in late September. U.S. Bitcoin Corp. (USBTC), which was also a Compute North client, is now managing operations at Wolf Hollow. USBTC this week agreed to merge with Hut 8 Mining (HUT).
About one month prior to the Compute North bankruptcy, BitNile had signed an agreement with Compute North to host its machines. The mining rigs now have begun being shipped to another location, said BitNile in a Friday morning press release. Ault Executive Chairman Milton “Todd” Ault III called the situation "very frustrating."
Read more: Shares of Bitcoin Miner Hut 8 Slump on Merger With US Bitcoin Corp.
