Bitcoin miner Marathon expects to recover less than half its deposit from bankrupt Compute North

12/07 00:39

According to CoinDesk, Marathon Digital (MARA), one of the largest publicly traded bitcoin miners, expects to recover only $22 million of the $50 million it deposited with bankrupt bitcoin miner and data center provider Compute North. Marathon – which doesn’t own its mining facilities and uses third-party data centers to park its computers – previously said that it paid about $50 million in operating deposits to Compute North. In its update on Tuesday, the company said it has now written off $8 million of that total, and expects to recover about $22 million of the $42 million still remaining. That would leave $20 million of the deposit still unaccounted for, and Marathon said it continues "to work with the various parties involved to determine [its] ultimate recoverability."

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