Marathon Digital, one of the world’s top bitcoin (BTC) miners, announced a $10 million convertible preferred equity investment and a $21.3 million unsecured senior promissory note in several entities under the insolvent data center Compute North. According to a statement issued on Thursday, Marathon has also paid around $50 million in operating deposits to Compute North. According to the firm, the deposits were primarily tied to security deposits and prepayments associated with the operation of the King Mountain and Wolf Hollow mining sites in Texas. Last month, Compute North declared bankruptcy, claiming a severe bear market, supply concerns, and problems with its major lender. Marathon is one of Compute North’s most important clients.
