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<h2 id="header-0">Marathon Digital Holdings, a bitcoin miner, has reported an $81.3 million exposure to the recently bankrupted mining hosting provider Compute North.</h2>Marathon gave a breakdown of its exposure on Oct. 6, indicating that the majority was in operational deposits worth $50 million. These deposits were primarily connected to security deposits and prepayments associated with the continuous operation of King Mountain and Wolf Hollow.The remaining is divided between $21.3 million for an unsecured senior promissory note and $10 million for convertible preferred Compute North stock.It comes just weeks after Compute North filed for <a href="https://www.coingabbar.com/en/crypto-currency-news-english/bitcoin-mining-company-compute-north-files-bankruptcy" rel="noopener noreferrer nofollow">Chapter 11 bankruptcy</a> in the US Bankruptcy Court for the Southern District of Texas on September 23.Marathon Digital stated that Compute North operates portions of its BTC mining operations in Texas, Nebraska, and South Dakota. The company has said that, for the time being, its activities hosted by Compute North would continue as usual.According to Marathon Digital Holdings, &#34;based on the facts available today, we do not anticipate these proceedings having an impact on our present operations or our ability to meet our primary objective of 23 exahashes per second in 2023.&#34;Marathon’s recent performanceWhile miner profit margins were going to be tighter this year due to the negative <a href="https://www.coingabbar.com/en/crypto-currency-news-english/bitcoin-price-analysis-cmp-bulls-have-a-loaded-gun-and-are-ready-to-shoot" rel="noopener noreferrer nofollow">trend of BTC</a>, Marathon stressed that its operational performance is improving.Marathon mined 616 BTC – worth $12.3 million at current prices — in the third quarter of 2022. The company stressed that output notably increased month over month, rising from 72 BTC and 184 BTC in July and August, respectively, to 360 BTC in September.Marathon reported a functioning mining fleet of &#34;about 37,000 active miners&#34; generating around 3.8 Exahases per second (EH/s) by the end of September. However, since then, the number has grown dramatically, with 57,000 active miners generating 5.7 EH/s as of Oct. 5.Marathon also stated that its total BTC holdings had reached 10,670 BTC, with a fair market value of about $207.3 million as of September 30 and that it has $55.3 million in unrestricted cash on hand.Read also: <a href="https://www.coingabbar.com/en/crypto-currency-news-english/binance-coin-worth-dollar-million-stolen-latest-exploit" rel="noopener noreferrer nofollow">Binance Coin Worth $100 Million Stolen In Latest Exploit</a>

Marathon Reports $80 Million Exposure to Bankrupt Mining Company

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