Compute North Holdings, Inc.

Compute North is in post-confirmation wind-down: the operating Chapter 11 has been replaced by a liquidating plan and litigation trust, with the current docket focused on claim cleanup, settlement implementation, and distributions rather than business rehabilitation. The case began when Compute North Holdings and affiliates filed Chapter 11 on September 22, 2022, after building a capital-intensive data-center infrastructure platform for blockchain, digital asset, and high-performance computing customers; the voluntary petitionDkt. 1 opened the jointly administered Southern District of Texas case, and the first-day declarationDkt. 22 framed the filing around stabilizing operations and pursuing restructuring relief.

The balance-sheet problem was substantial and lender-specific. By the time the debtors filed their disclosure statementDkt. 577, the capital structure included roughly $222.6 million of identified funded debt, led by a nearly $99.8 million senior secured NextEra-related note, about $94.3 million across Generate Lending tranches, a $21.0 million unsecured Marathon note, and $7.5 million of Foundry equipment financing. The early case preserved basic operating continuity through first-day relief for cash management, wages, taxes, utilities, schedules extensions, and joint administration, as reflected in the omnibus noticing affidavits for those first-day orders Dkt. 111 and Dkt. 112.