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Bitcoin miner Marathon explores Compute North bid: Bloomberg

Bitcoin miner Marathon explores Compute North bid: Bloomberg


Mining


Marathon Digital Holdings Inc. has employed advisers to assist navigate a possible bid for its accomplice Compute North, a troubled crypto miner presently going via chapter, based on Bloomberg.

Marathon CEO Fred Thiel advised Bloomberg his firm had employed Guggenheim Companions and legislation agency Weil Gotshal & Manges to advise on each its publicity to Compute’s chapter and a possible bid for the bankrupt information heart.

Marathon makes use of an “asset-light technique,” which requires it to make use of third-party firms that possess the equipment and infrastructure to mine cryptocurrency, Bloomberg mentioned.

The Las Vegas-based miner recorded a loss for the third quarter thanks partially to an impairment cost of $39 million linked to Compute North’s chapter, the report additionally mentioned.


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