PowerCompute Eliminates $22.45M Bitcoin-Backed Debt

PowerCompute has repaid its $22.45M Bitcoin-backed credit facility with Arch Lending, significantly reducing its secured debt.

The company's subsidiary, US Digital Mining and Hosting Co., had pledged a total of 307 Bitcoin to secure the loan, but only 267.3 were sold to satisfy the principal, interest, and fees. The remaining 39.6 Bitcoin, valued at approximately $3.3 million, was returned to PowerCompute.

This settlement reduced PowerCompute's total secured debt from around $19.4 million as of June 30, 2026 to approximately $1.25 million, a decrease of about 94%. The company now has only one remaining secured promissory note maturing on December 31, 2026.

As the Chief Financial Officer Richard Russell noted, repaying the secured debt will lower PowerCompute's annual interest expense to around $140 thousand for its remaining secured debt. The company plans to use this savings to deploy new mining equipment and increase its active mining hash rate from approximately 771 PH/s as of June 30, 2026 to around 964 PH/s, a 25% increase.