Nyquan Wilson / GNP contributor
When Compute North declared bankruptcy this fall, it told the court it owed money to eight people, businesses and governments in Pitt County. It turns out that was news to most of them.
Compute North is the cryptocurrency mining company that wanted to set up a mining operation in Pitt County. Its nearly year-long effort from summer 2021 to late spring 2022 involved the Pitt County Commission, Greenville City Council, Greenville Utilities, the public-private development group Greenville ENC Alliance, and a host of opponents.
Its last local act came in April when it paused its plans to build a plant in Greenville’s industrial district that would have been full of computers churning away at “mining” cryptocurrency. It declared bankruptcy in Houston six months later.
The Greenville News Project contacted the eight local creditors, and here is what it found:
Greenville city. “We are still unsure why the city would have been listed in the company’s bankruptcy filing,” said city spokesman Brock Letchworth, adding that Compute North does not owe money to the city. Earlier this year the city council approved zoning amendments that cleared the way for the crypto miner to build a plant in the industrial district.
Greenville Utilities. It expects to recoup “all that is owned to us” by Compute North, said spokesman Steve Hawley. The crypto mining firm had two lease agreements for with the utility: one for lot and the other for former warehouse, both on Mumford Road and both used to store the company’s equipment. The company owes Greenville Utilities “a total of $5,745.16 and will owe another $1,114.83 for each month” for the lot it is still using, Hawley said.
Pitt County government. “Compute North did list Pitt County as a creditor. However, they do not owe Pitt County any money,” said Deputy County Manager Sam Croom. “Pitt County does not have any involvement with Compute North.”
Baldwin Design Consultants. In an email reply, it said whether Compute North owed money or not was “none of your business.”
Ferrell L. Blount III. The local businessman is listed as a Compute North creditor, but the News Project was not able to get in touch with him. Blount, who serves on the Greenville Utilities Commission, owned land near the industrial district that Compute North to buy. County property records show he still owns the land.
Michael Pechan. The local Realtor says he’s not owed money by Compute North for the market analysis he did for it.
“Compute North asked me since I was a licensed realtor in the area for something similar to cost market analysis of home values in the area similar to area where data mining facility was originally proposed to go (by Belvoir Elementary). … I did get paid for it,” he said.
“They didn’t end up using it,” he said. “They thought they were going to need info that their facility would/wouldn’t affect surrounding home values.”
Roebuck Staffing in Greenville. Owner Will Roebuck told the News Project, “We are currently clients with Compute North so I will have to decline your offer of an interview.”
Stanton House Fire Department. A spokesperson said the volunteer fire department on North Memorial Drive near U.S. 264 had no idea it was listed as a Compute North bankruptcy creditor.
Wilson reported this story for the fall 2022 class, In-Depth Reporting.
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