Magic Keyboard with Touch ID won't charge past 71% and battery immediately depletes when unplugged.

I have a Magic Keyboard with Touch ID and It works completely fine when plugged in to my M2 Mac via the lightning to USB C cable. Its shows up as connected under my bluetooth settings and appears to be charging. The issue is the charging never exceeds 71%. It stays at 71% until I unplug the keyboard at which point the battery immediately depletes down to 5% and the keyboard is no longer functional unless I plug it back in at which point the charging cycle seems to start again, stopping at 71%. It's not a super huge deal, but I would like to use the keyboard wirelessly as intended and I can't. Any ideas of what may be going on?