Compute North named Satyen Yadav chief technology officer on June 6, 2022, the company said in a press release1. His job was to “advance innovation in distributed computing services, including cloud computing for machine learning applications,” the release said. Yadav had begun the role in May 2022. He came from Boeing Digital Aviation, where he served as global CTO, and before that held leadership posts at Amazon Web Services and Intel. Crowdfund Insider reported the hire independently on June 9, 2022. Yadav "reportedly brings over 25 years of global tech and business experience" to the Eden Prairie, Minnesota, company, the outlet wrote2.
37 executive hires on the record in 2022
Executive hires CryptoLately has verified, by year; 2026 through Oct. 2, 2026
- 2022: 37
- 2019, 2020, 2021, 2023, 2024, 2025, 2026
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Item | Value |
|---|---|
| 2019 | 11 |
| 2020 | 12 |
| 2021 | 27 |
| 2022 | 37 |
| 2023 | 20 |
| 2024 | 39 |
| 2025 | 59 |
| 2026 | 45 |
Trading Venues & Brokerage led executive hires in 2022, with six
Executive hires CryptoLately has verified in 2022, by the sector of the company
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Item | Value |
|---|---|
| Trading Venues & Brokerage | 6 |
| Capital Markets & Treasury | 4 |
| Bitcoin & Mining | 4 |
| Layer 1s & Infrastructure | 3 |
| Institutional Custody & Asset Management | 3 |
| Stablecoins & Payments | 2 |
| DeFi Protocols | 2 |
| Wallets & Consumer Apps | 2 |
The move
Dave Perrill, Compute North's chief executive officer and co-founder, tied the hire to rising demand on the company's infrastructure. “Needs are changing fast, and as the demand continues for data to become faster and smarter, traditional infrastructure isn't keeping up,” Perrill said. “By delivering agile, efficient, and affordable computing solutions, Compute North is focused on fueling the next wave of business breakthroughs while accelerating the transition to a carbon-neutral future.”1 Yadav gave his own reasons for taking the job in the same release. “This opportunity combines my passion for technology with renewable energy to build the world's most sustainable and cost-effective computing infrastructure at scale,” he said. “We're going to bring a diversity of computing workloads to the renewable energy sources and work to net-zero emissions.”
Compute North before and after
The company called itself the leader in what it termed TIER 0 data centers. It served clients in blockchain, cryptocurrency mining and distributed computing across multiple U.S. sites1. Compute North credited Yadav with more than 20 patents in distributed computing, networking, machine learning and cybersecurity from his prior roles. The press release left the CTO role's prior occupant unnamed, framing Yadav's hire as fresh technical leadership for a company expanding into AI-adjacent cloud workloads.
What came next
Compute North filed for Chapter 11 bankruptcy protection on September 22, 2022, 108 days after naming Yadav CTO3. CoinDesk reported the filing on the evening of September 22, 2022, citing documents filed with the U.S. Bankruptcy Court for the Southern District of Texas. The filing came seven months after Compute North had announced a $385 million capital raise in February 2022, CoinDesk noted. That raise paired an $85 million Series C equity round with $300 million in debt financing. CoinDesk called its own report a developing story and left the total owed and the creditor count for a later update.
Sources
- "Compute North Adds Satyen Yadav as CTO to Accelerate Sustainable Cloud Solutions," Business Wire, June 6, 2022, https://web.archive.org/web/20220705151119/https://www.businesswire.com/news/home/20220606005621/en/Compute-North-Adds-Satyen-Yadav-as-CTO-to-Accelerate-Sustainable-Cloud-Solutions
- Omar Faridi, "Compute North Adds Satyen Yadav as CTO to Accelerate Sustainable Cloud Solutions," Crowdfund Insider, June 9, 2022, https://www.crowdfundinsider.com/2022/06/192098-compute-north-adds-satyen-yadav-as-cto-to-accelerate-sustainable-cloud-solutions/
- Stephen Alpher, "Crypto Mining Data Center Provider Compute North Files for Bankruptcy Protection," CoinDesk, September 22, 2022, https://web.archive.org/web/20220922205353/https://www.coindesk.com/business/2022/09/22/crypto-mining-data-center-provider-compute-north-files-for-bankruptcy-protection/