Compute North hosting agreement for 73,000 miners
Company: Marathon Digital
The claim, verbatim
Entered into binding letter of intent with Compute North to host 73,000 Bitcoin Miners with staged implementation October 2021 through March 2022 at $0.50 per machine per month and $0.044 per kWh, with up to $67 million bridge loan and up to $14 million expedite fees
Source (primary)
Marathon Digital 10-K filed 2022-03-10 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “On May 21, 2021, Marathon Digital Holdings, Inc. (the "Company") entered into a binding letter of intent with Compute North, LLC to host 73,000 Bitcoin Miners over a staged in implementation between October 2021 and March 2022. The hosting cost is $0.50 per machine per month and the hosting rate will be $0.044 per kWh. In order to build out the infrastructure without paying for the capital expenditure, the Company will provide an 18 month bridge loan to Compute North of up to $67 million dollars... The Company has also agreed to pay up to $14 million in expedite fees”
How we checked this
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Additional evidence
confirms Marathon Digital 10-K filed 2022-03-10
Quote: “On May 21, 2021, Marathon Digital Holdings, Inc. (the "Company") entered into a binding letter of intent with Compute North, LLC to host 73,000 Bitcoin Miners over a staged in implementation between October 2021 and March 2022. The hosting cost is $0.50 per machine per month and the hosting rate will be $0.044 per kWh. In order to build out the infrastructure without paying for the capital expenditure, the Company will provide an 18 month bridge loan to Compute North of up to $67 million dollars... The Company has also agreed to pay up to $14 million in expedite fees”