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The miner said, however, that its King Mountain and Wolf Hollow sites aren't directly subject to Compute North’s bankruptcy process. Marathon said it didn’t face any significant impact at its King Mountain site, although there were some delays at Wolf Hollow, unrelated to the bankruptcy process, according to the statement. Source
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Bitcoin mining firm Compute North filed for Chapter 11 bankruptcy protection in Texas on Thursday as the crypto winter continues to put pressure on crypto mining operations. The bankruptcy petition filed on September 22, indicates the company looks to stabilize operations in order to repay creditors. Compute North Files for Chapter
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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a
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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
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Reflecting those disappointing quarterly results, the Cowen team lowered its 2022 revenue estimate for Marathon to $150 million from $204 million, now below the consensus forecast for $189 million. Cowen also dropped its expectations for adjusted EBITDA to $39 million from $86 million, and mining profit to $91 million with
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Compute North has now energized 40 megawatts (MW) of a 280MW wind-powered facility in Upton County in West Texas, according to the Monday earnings release. Marathon will be the exclusive client of this site, which is Compute North’s fifth TIER 0™ site, said the statement. The rest of the 280MW
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The firm has 29,640 bitcoin mining rigs waiting energization in in West Texas, it said in the update. This is largely because hosting firm Compute North's energy provider is waiting for federal regulators to approve its tax-exempt status, Marathon said. Compute North hosted about 20,000 of Marathon's machines as of
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Marathon has also signed additional deals with its existing partner Compute North to include 42MW of hosting capacity at Compute North’s facility near Granbury, Texas. Marathon expects to have an additional 14,000 miners installed at this facility, bringing the total number running near Granbury to about 26,000 miners, representing approximately
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Marathon bought $150 million of bitcoin with a NYDIG fund in January of 2021. Original Source
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Bitcoin miner Marathon Digital (MARA) said its miners in Hardin, Mont., are currently without power due to a storm that passed through the region on June 11. The company has about 30,000 miners deployed in Montana, representing over 75% of the company’s active fleet. Source
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