Compute North mining hosting agreement
Company: Marathon Digital
What the later record shows
Not a promise: a reported event · happened May 21, 2021
The claim restates the terms of a letter of intent signed May 21, 2021, before the claim was made in March 2022. The filing's exhibit list includes the Binding Letter of Intent with Compute North.
“In May 2021, we announced that we had entered into a binding letter of intent with Compute North to host 73,000 of our Bitcoin miners”
2022-03-09 · Marathon Digital 10-K filed 2022-03-10 View cached copy (2026-09-13)Live source ↗
“10.48 Binding Letter of Intent with Compute North, LLC (62) 10.49 Purchase Agreement dated July 30, 2021”
2023-03-15 · Marathon Digital 10-K filed 2023-03-16 View cached copy (2026-09-13)Live source ↗
Checked October 10, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
May 21, 2021 binding letter of intent to host 73,000 Bitcoin Miners from October 2021 through March 2022 at $0.50 per machine per month and $0.044 per kWh, with 18-month bridge loan of up to $67 million, up to $14 million expedite fees, and three-year contract with capped annual increases.
Source (primary)
Marathon Digital 10-K filed 2022-03-10 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “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 Company will provide an 18 month bridge loan to Compute North of up to $67 million dollars”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The 10-K states each of these terms, including the three-year term and the three-percent annual cap on increases.
Confirmed in the source:
- Marathon entered into a binding letter of intent with Compute North on May 21, 2021 to host 73,000 Bitcoin miners
- The hosting was to be implemented in stages from October 2021 through March 2022
- The hosting cost was $0.50 per machine per month and $0.044 per kWh
- Marathon would provide an 18-month bridge loan of up to $67 million
- Marathon agreed to pay up to $14 million in expedite fees
- The contract term was three years, with later increases capped at three percent per year
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1507605/000149315222006446/form10-k.htm) in full (385,382 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Marathon Digital 10-K filed 2022-03-10
Quote: “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 Company will provide an 18 month bridge loan to Compute North of up to $67 million dollars”