PowerCompute repays Bitcoin-backed loan, cuts debt 94%

PowerCompute, Inc. (Nasdaq: PWCM) announced it has fully repaid and terminated a Bitcoin-backed credit facility with ChainFi, Inc., doing business as Arch Lending, satisfying approximately $22.45 million in obligations and releasing all remaining Bitcoin collateral.

The facility was settled on September 24, 2026, its scheduled reset date. Under the settlement terms, Arch sold approximately 267.3 of the 307 pledged Bitcoin to cover $21,892,132 in principal, $118,582 in accrued interest, and a $440,122 fee. The remaining approximately 39.6 Bitcoin, valued at approximately $3.3 million, was returned to PowerCompute. The company said the facility was non-recourse and contained no margin-call or price-triggered liquidation provisions.

With the repayment, PowerCompute reduced total secured debt from approximately $19.4 million as of June 30, 2026, to approximately $1.25 million — a reduction of approximately 94%. The remaining secured borrowing is a single promissory note maturing December 31, 2026, with no Bitcoin pledged as collateral.

"We have reduced total debt by approximately 94% in approximately three months, from $19.4 million to approximately $1.25 million, and none of our Bitcoin remains pledged as collateral," said Richard Russell, Chief Financial Officer of PowerCompute.

As of September 25, 2026, PowerCompute held approximately 62 Bitcoin, valued at approximately $5.2 million based on a Bitcoin price of approximately $84,500.

The company also outlined expansion plans. At Columbus, Mississippi, PowerCompute intends to deploy mining equipment across approximately 3.5 MW of owned but not yet energized electrical capacity. At Calumet, Oklahoma, the company plans to continue replacing older miners with newer equipment. The combined efforts are expected to increase active mining hash rate from approximately 763 PH/s as of August 31, 2026, to approximately 964 PH/s.

PowerCompute owns 26 MW of interconnected electrical capacity across its Oklahoma and Mississippi facilities, with approximately 22.5 MW currently supporting Bitcoin mining and a portion allocated to an enterprise high-performance computing pilot program.

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