PowerCompute, Inc. (Nasdaq: PWCM) has fully repaid and terminated its Bitcoin-secured credit facility with ChainFi, Inc. d/b/a/ Arch Lending. The settlement, executed on September 24, 2026, involved Arch selling approximately 267.3 of the 307 Bitcoin pledged by the company to satisfy $21,892,132 of principal, $118,582 of accrued interest, and a $440,122 fee. The remaining approximately 39.6 Bitcoin, valued at roughly $3.3 million, were returned to PowerCompute.
The filing indicates that the credit facility was non-recourse and contained no margin-call provisions. It was settled on its scheduled reset date rather than due to forced liquidation. Following this transaction, PowerCompute has eliminated all pledged Bitcoin collateral. The company reports that total secured debt has been reduced from approximately $19.4 million as of June 30, 2026, to approximately $1.25 million. This represents a reduction of approximately 94% in roughly three months. The remaining secured borrowings consist of a single promissory note maturing December 31, 2026, which is not secured by Bitcoin.
PowerCompute stated that the repayment eliminates interest expense and collar-related expenses associated with the Arch credit facility, as well as prior facilities. As of September 25, 2026, the company held approximately 62 Bitcoin, valued at approximately $5.2 million based on a Bitcoin price of approximately $84,500. The company intends to use Bitcoin as working capital for equipment purchases and operations rather than pursuing a leveraged treasury strategy.
In addition to the debt restructuring, PowerCompute announced plans to expand its mining operations. The company aims to increase its active mining hash rate from approximately 771 PH/s as of June 30, 2026, to approximately 964 PH/s. This growth is expected to come from a 3.5 MW expansion in Mississippi and continued fleet modernization in Oklahoma. The company owns 26 MW of interconnected electrical capacity with a blended net power cost of approximately 3.3 cents per kilowatt-hour.
