One of the largest cryptocurrency miners – Marathon Digital – has reportedly hired restructuring specialists to clarify its exposure to the troubled data center Compute North Holdings.
Marathon will also seek advice from the professionals on whether to acquire the entity.
Weighing a Bid
Compute North is yet another crypto firm that took a major punch from the prolonged bear market that has reigned throughout 2022. It revealed owning around $500 million to hundreds of creditors, while its assets under management were between $100 million and $500 million. As typically happens, the monetary issues prompted the firm to file for a Chapter 11 bankruptcy.
According to a Bloomberg coverage, Marathon Digital has been in talks with leading advisory firms, including Guggenheim Partners and Weil Gotshal & Manges, to offer an acquisition deal to Compute North.
Marathon previously reported an exposure of approximately $80 million to the distressed entity. Compute North has been one of
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