PowerCompute, Inc. (Nasdaq: PWCM) announced on October 6, 2026, that its subsidiary, US Digital Mining Mississippi LLC, has executed a new Industrial Power Contract with Columbus Light and Water (CLW). The agreement increases the contracted power demand at the Company's data center facility in Columbus, Mississippi, from 8.5 megawatts to 11 megawatts. The contract took effect on October 1, 2026, and replaces the subsidiary's previous power agreement with CLW.
The new power is priced under CLW's Large Data Service Rate, Schedule DCB. This rate schedule is designed to implement the Tennessee Valley Authority's (TVA) new data center tariff. The Company notes that it moved to this rate prior to October 1, 2026, ahead of the TVA's changes taking effect. Under the TVA's new regulations, which began in fiscal year 2027, new or expanded data center loads above the first five megawatts are subject to a Capacity Commitment Charge of approximately $1.5 million per megawatt. PowerCompute states that it has not been assessed this charge on any portion of its 11 megawatts of contracted demand.
The Industrial Power Contract has an initial term ending September 16, 2030, with an option for a five-year renewal. In connection with the new agreement, CLW has returned a $300,000 deposit to the Company, which PowerCompute intends to apply toward capacity buildout at the Columbus site. The Company is posting a utility bond in place of the deposit. As of September 30, 2026, the Columbus site holds approximately 2,373 Antminer machines with a total hashrate of approximately 205 PH/s.
PowerCompute operates a total of 26 megawatts of electrical capacity across two sites: 15 megawatts in Calumet, Oklahoma, and 11 megawatts in Columbus, Mississippi. The Company monetizes this electrical capacity through Bitcoin mining and, at the Oklahoma site, through GPU compute rented on the Vast.ai marketplace. The Company also noted that it has terminated a Bitcoin-backed credit facility announced on September 30, 2026, and intends to focus capital on acquiring and monetizing low-cost electrical infrastructure.
