PowerCompute Mines 8.1 Bitcoin in September and Cuts Debt Using BTC Treasury
PowerCompute increased its September Bitcoin production to 8.1 BTC while using 267.4 BTC from its treasury to eliminate a $22.45 million debt facility.
Nasdaq-listed miner PowerCompute mined 8.1 Bitcoin in September, representing a 37 percent increase over the 5.9 BTC produced in September of the prior year and a slight increase over August output.
The company's total Bitcoin holdings declined from 323.02 BTC at the end of August to 63.7 BTC by the end of September. The decrease occurred after the miner used 267.4 BTC to clear principal and interest on a Bitcoin-backed credit facility with Arch, extinguishing roughly $22.45 million in debt obligations and reducing total secured debt from $23.7 million to $1.25 million.
PowerCompute operates 26 megawatts of infrastructure across facilities in Oklahoma and Mississippi and is exploring high-performance computing and artificial intelligence initiatives. The firm also generated approximately $89,000 during the month by curtailing mining during warm weather periods to sell power back to the grid.
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