WRT3200ACM Upgrade Failing with "cannot find target partition" error

I'm attempting to upgrade my WRT3200ACM from 17.01.4 to 17.01.5 and I'm seeing the following output:

# sysupgrade -v lede-17.01.5-mvebu-linksys-wrt3200acm-squashfs-sysupgrade.bin 
Saving config files...
etc/config/.wireless.uci-fGgjMa
etc/config/ddns
etc/config/dhcp
etc/config/dhcp-opkg
etc/config/dropbear
etc/config/firewall
etc/config/fstab
etc/config/luci
etc/config/luci-opkg
etc/config/network
etc/config/rpcd
etc/config/system
etc/config/ubootenv
etc/config/ucitrack
etc/config/ucitrack-opkg
etc/config/uhttpd
etc/config/upnpd
etc/config/vnstat
etc/config/wireless
etc/crontabs/root
etc/dropbear/authorized_keys
etc/dropbear/dropbear_rsa_host_key
etc/dropbear/dropbear_rsa_host_key-opkg
etc/fw_env.config
etc/group
etc/hosts
etc/inittab
etc/luci-uploads/.placeholder
etc/opkg/keys/5151f69420c3f508
etc/opkg/keys/72a57f2191b211e0
etc/opkg/keys/792d9d9b39f180dc
etc/opkg/keys/9ef4694208102c43
etc/opkg/keys/b5043e70f9a75cde
etc/opkg/keys/dace9d4df16896bf
etc/opkg/keys/dd6de0d06bbd3d85
etc/passwd
etc/profile
etc/rc.local
etc/shadow
etc/shells
etc/sysctl.conf
etc/sysctl.d/local.conf
etc/uhttpd.crt
etc/uhttpd.key
etc/vnstat.conf
etc/uhttpd.key
etc/uhttpd.crt
killall: watchdog: no process killed
Sending TERM to remaining processes ... logd rpcd netifd odhcpd crond uhttpd miniupnpd dynamic_dns_upd dynamic_dns_upd dnsmasq ntpd vnstatd ubusd askfirst 
Sending KILL to remaining processes ... askfirst 
Switching to ramdisk...
Performing system upgrade...
Cannot read bad block mark: Invalid argument
Cannot read bad block mark: Invalid argument
Error: environment not initialized
cannot find target partition

Some additional information that might be useful:

# fw_printenv 
Cannot read bad block mark: Invalid argument

# cat /etc/fw_env.config 
/dev/mtd1 0x0 0x40000 0x20000 

Help is appreciated.

Out of curiosity, do you receive any errors if flashing via Serial?