Compute North is in post-confirmation wind-down: the operating Chapter 11 has been replaced by a liquidating plan and litigation trust, with the current docket focused on claim cleanup, settlement implementation, and distributions rather than business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.
The restructuring path ultimately became a liquidation, not a reorganized operating exit. The debtors filed the Third Amended Chapter 11 PlanDkt. 889 on January 31, 2023, and Judge Marvin Isgur confirmed the Third Amended Joint Liquidating Chapter 11 Plan confirmation orderDkt. 1019 on February 16, 2023. The confirmed plan renamed the enterprise Mining Project Wind Down Holdings, Inc. and established the post-confirmation framework now being administered by Tribolet Advisors LLC as plan administrator and litigation trustee.
The live posture in May 2026 is litigation-trust administration. Tribolet filed a proposed final judgmentDkt. 1599 after receiving settlement funds tied to an adversary proceeding, with the proposed judgment dismissing that proceeding with prejudice; the same filing states that most affiliated Chapter 11 cases had been closed, while three wind-down debtors remain open and jointly administered. The trustee also moved to disallow and expunge six claims for failure to provide required tax information, seeking to revest forfeited amounts in the Litigation Trust for remaining beneficiaries and teeing up an interim distribution process through the TIN claimant disallowance motionDkt. 1600. A notice of hearingDkt. 1604 sets that claim-objection matter for June 10, 2026 at 10:00 a.m. Central before Judge Isgur.
