Bloomberg Law
Oct. 6, 2022, 4:02 PM

Bitcoin Miner Marathon Has $80 Million Exposure to Bankrupt Firm

David Pan
David Pan
Bloomberg News

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 ...

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