Marathon has outlined that at this stage its operations hosted by Compute North will continue to operate as usual, and highlighted an improved BTC mining production in Q3.
Bitcoin (BTC) miner Marathon Digital Holdings has revealed $81.3 million worth of exposure to recently bankrupted mining hosting provider Compute North.
Marathon provided a breakdown of its exposure on Oct. 6 explaining the majority was in operating deposits worth $50 million, noting these deposits “were primarily related to King Mountain and Wolf Hollow security deposits and prepayments associated with the ongoing operation of those sites.”
The remainder is split between $21.3 million allocated to “an unsecured senior promissory note” and $10 million in convertible preferred Compute North stock.
It comes weeks after Compute North submitted a Chapter 11 ba
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