Marathon Digital, one of the largest cryptocurrency miners, has reportedly hired restructuring experts to clarify its exposure to the troubled data centre Compute North Holdings.
Marathon will also seek professional advice on whether to acquire the entity.
Marathon Digital has been in discussions with leading advisory firms, including Guggenheim Partners and Weil Gotshal & Manges, to offer Compute North an acquisition deal.
Marathon previously disclosed an exposure to the distressed entity of approximately $80 million. Compute North has been one of its primary hosting providers, having installed over 68,000 of the miner’s equipment in its wind-powered Texas facilities.
Marathon’s team said it might move some of its mining infrastructures to other areas should the issues with the data center continue to disturb its business: “While we expect operations to continue as originally anticipated, our asset-light model provides us with the optionality to relocate our miners to other locations, should the need arise.”
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