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SVTPerformance's Chain of Restaurants
Road Side Pub
BITCOIN
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<blockquote data-quote="Weather Man" data-source="post: 16851717" data-attributes="member: 137766"><p><a href="https://www.coindesk.com/" target="_blank"><img src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AAUKHc2.img?w=36&h=36&q=60&m=6&f=png&u=t" alt="CoinDesk" class="fr-fic fr-dii fr-draggable " style="" /></a></p><p><a href="https://www.coindesk.com/" target="_blank">CoinDesk</a></p><p>Follow<a href="https://www.msn.com/en-us/community/channel/vid-24nuhyyhqjwd8gwmwc58wwedksacv5dfsifbxr9hy57viwe4v5xa?ocid=msedgntp" target="_blank">View Profile</a></p><h3>Bitcoin Miner Marathon Expects to Recover Less Than Half Its Deposit From Bankrupt Compute North</h3><p>Story by Aoyon Ashraf • Yesterday 4:26 PM</p><p></p><p>Marathon Digital (MARA), one of the largest publicly traded bitcoin miners, expects to recover only $22 million of the $50 million it deposited with bankrupt bitcoin miner and data center provider Compute North.</p><p></p><p>Marathon – which doesn’t own its mining facilities and uses third-party data centers to park its computers – previously said that it <a href="https://www.coindesk.com/business/2022/10/06/bitcoin-miner-marathon-invested-313m-in-bankrupt-data-center-compute-north/" target="_blank">paid about $50 million in operating deposits</a> to Compute North. In its <a href="https://ir.marathondh.com/news-events/press-releases/detail/1298/marathon-digital-holdings-announces-bitcoin-production-and" target="_blank">update on Tuesday</a>, the company said it has now written off $8 million of that total, and expects to recover about $22 million of the $42 million still remaining.</p><p>That would leave $20 million of the deposit still unaccounted for, and Marathon said it continues "to work with the various parties involved to determine [its] ultimate recoverability."</p><p>In addition to that $50 million deposit, Marathon previously said that it invested $10 million in convertible preferred stock and $21.3 million in an unsecured senior promissory note in different entities within Compute North.</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16851717, member: 137766"] [URL='https://www.coindesk.com/'][IMG alt="CoinDesk"]https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AAUKHc2.img?w=36&h=36&q=60&m=6&f=png&u=t[/IMG] CoinDesk[/URL] Follow[URL='https://www.msn.com/en-us/community/channel/vid-24nuhyyhqjwd8gwmwc58wwedksacv5dfsifbxr9hy57viwe4v5xa?ocid=msedgntp']View Profile[/URL] [HEADING=2]Bitcoin Miner Marathon Expects to Recover Less Than Half Its Deposit From Bankrupt Compute North[/HEADING] Story by Aoyon Ashraf • Yesterday 4:26 PM Marathon Digital (MARA), one of the largest publicly traded bitcoin miners, expects to recover only $22 million of the $50 million it deposited with bankrupt bitcoin miner and data center provider Compute North. Marathon – which doesn’t own its mining facilities and uses third-party data centers to park its computers – previously said that it [URL='https://www.coindesk.com/business/2022/10/06/bitcoin-miner-marathon-invested-313m-in-bankrupt-data-center-compute-north/']paid about $50 million in operating deposits[/URL] to Compute North. In its [URL='https://ir.marathondh.com/news-events/press-releases/detail/1298/marathon-digital-holdings-announces-bitcoin-production-and']update on Tuesday[/URL], the company said it has now written off $8 million of that total, and expects to recover about $22 million of the $42 million still remaining. That would leave $20 million of the deposit still unaccounted for, and Marathon said it continues "to work with the various parties involved to determine [its] ultimate recoverability." In addition to that $50 million deposit, Marathon previously said that it invested $10 million in convertible preferred stock and $21.3 million in an unsecured senior promissory note in different entities within Compute North. [/QUOTE]
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