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Business

RETRACTION: Compute North Did Not Pay Execs $3M on the Day It Declared Bankruptcy

The filing states the money was paid over the course of the year ended Sept. 22, not that day as CoinDesk reported earlier based on a mistaken reading of the document.

By Eliza Gkritsi
AccessTimeIconNov 3, 2022 at 12:15 p.m. UTC
Updated Nov 5, 2022 at 12:27 a.m. UTC
CDCROP: Wolf Hollow Power Plant in Texas

Wolf Hollow Power Plant in Texas (Compute North) https://mobile.twitter.com/computenorthllc/status/1547296579123662848/photo/1

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Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

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Compute North did not pay several executives about $3 million on Sept. 22, the same day it filed for bankruptcy. CoinDesk has retracted a story published Nov. 4 that, based on a mistaken reading of a court filing, said otherwise.

The filing states that these payments were made in the year leading up to Sept. 22.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

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Eliza Gkritsi

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

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Eliza Gkritsi

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

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