Bitcoin Miner Marathon Reveals $80 Million Exposure to Bankrupt Firm
Top Bitcoin mining firm Marathon Digital disclosed it has over $80 mn of exposure in Compute North Holdings Inc.
Top Bitcoin mining firm Marathon Digital Holdings Inc. disclosed it has over $80 million of exposure in the bankrupt data center firm Compute North Holdings Inc. The total includes investments comprised of $10 million in convertible preferred stock of Compute North and $21.3 million related to an unsecured senior promissory note with the firm, according to a monthly report released by Marathon on Thursday. The miner has also paid approximately $50 million in operating deposits to Compute North entities for its hosting services. More than 68,000 Bitcoin mining machines from Marathon were being installed and hosted by Compute North in its wind-powered Texas facility, ac...