PowerCompute stock jumps 10.42 percent on Mississippi power contract expansion

PowerCompute, Inc. (PWCM) saw its stock price surge by 10.42% on October 6, 2026, closing at USD 1.06 on Nasdaq. The rally followed the announcement of a new power contract in Mississippi, which increased contracted demand from 8.5 megawatts to 11 megawatts. The agreement, effective October 1, 2026, shifts the Columbus, Mississippi site to Columbus Power's Large Data Service Rate and runs through September 16, 2030.

The company highlighted that the contract required no additional capital contribution to the utility and carried no TVA capacity commitment charge. PowerCompute also noted that it would replace a USD 300,000 deposit with a utility bond. The expansion allows the company to curtail power during peak hours and draw contracted demand during the remaining hours, impacting the demand component of power costs.

PowerCompute operates 26 megawatts of wholly owned electrical infrastructure, split between a 15-megawatt site in Calumet, Oklahoma, and the 11-megawatt site in Columbus, Mississippi. The company uses this capacity for Bitcoin mining and is developing high-performance computing and artificial intelligence applications.

Despite the positive news, Nasdaq compliance remains a key risk. A preliminary proxy statement filed on October 5, 2026, seeks authorization for another reverse stock split. The filing notes that PowerCompute completed a 1-for-25 reverse split on July 13, 2026, after its stock fell below Nasdaq's USD 1.00 minimum bid requirement. The proposal allows the board to pursue another split before December 31, 2027, but does not require one.

As of October 6, 2026, PowerCompute's stock had a session range of USD 0.98 to USD 1.07, with a volume of 216,580 shares and a market capitalization of USD 1.0 million. The 52-week range for the stock is USD 0.83 to USD 35.75, with the current price near the lower end of the span.