Marathon Digital (MARA), one of the largest publicly traded bitcoin miners, estimates that it will only recover $22 million of the $50 million it deposited with bankrupt bitcoin miner and data centre provider Compute North. Marathon, which does not own its mining facilities and instead parks its computers in third-party data centres, previously stated that it paid Compute North approximately $50 million in operating deposits. In a Tuesday update, the company said it had written off $8 million of the total and expects to recover about $22 million of the remaining $42 million. This would leave $20 million of the deposit unaccounted for, and Marathon stated that it is still “working with the various parties involved to determine [its] ultimate recoverability.”
