“The Company has initiated voluntary Chapter 11 proceedings to provide the company with the opportunity to stabilize its business and implement a comprehensive restructuring process that will enable us to continue servicing our customers and partners and make the necessary investments to achieve our strategic objectives,” a spokesperson told CoinDesk in an emailed statement. CEO Dave Perrill stepped down earlier this month but will continue to serve on the board, the spokesperson added. Drake Harvey, who has been chief operating officer for the last year, has taken the role of president at Compute North, the spokesperson said. Compute North has four facilities in the U.S. — two in Texas and one in both South Dakota and Nebraska, according to its website.
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