Landon Capital News

PowerCompute is becoming an AI infrastructure story rather than simply being a Bitcoin miner. Bitcoin mining is providing a current cash-flow engine, while energy sales and AI/HPC offer additional ways to monetize its 26-megawatt power footprint.

The company bought its first professional-grade NVIDIA GPU server hardware to test renting out processing power on the cloud to tech developers who need computer muscle to train AI models. Then in July 2026, the company officially rebranded from LM Funding America to PowerCompute Inc. and changed its NASDAQ ticker to PWCM. The new branding aligns with their new identity as an AI, high-performance computing, and Bitcoin infrastructure business.

This drastic shift in the business model doesn’t mean that PowerCompute wants to become another AI infrastructure company. The core of this strategy is the 26 MW of owned, interconnected power capacity across Oklahoma and Mississippi.

Similarly, PowerCompute (PWMC) has dramatically simplified its balance sheet as well. Despite the fact that AI is the most interesting part of the story, it is worth noting that the company’s recent debt reduction and remaining Bitcoin holdings immensely affect the investment case.

AI Could Increase the Value of Its Power

In 2026, PowerCompute entered the HPC and AI infrastructure market leveraging its already existing power footprint. With an already deployed initial GPU with approx. 101.7 teraflops capacity, they have started to sell their computing capacity through Vast.ai.

Investors valuing the company based on its AI business are neglecting the fact that its AI business is in its early stage. The real opportunity lies in PowerCompute’s ability to convert its existing power infrastructure into high-value computing capacity. 

It’s important to differentiate between the two because Bitcoin mining and AI/HPC offer different economics. Bitcoin mining provides an already established way to monetize electricity. But the catch here is that it’s highly sensitive to Bitcoin prices, network difficulty, and mining costs. AI computing could provide value in the long run and can generate higher revenue per megawatt. But it depends on heavy investment in the GPUs, cooling, networking, and data-center infrastructure.

Increasing Power at Mississippi Site to 11 Megawatts

PowerCompute announced that its subsidiary US Digital Mining Mississippi LLC executed a power contract with Columbus Light and Water (“Columbus Power”) on September 30, 2026 that increases contracted power demand at the Company’s Columbus, Mississippi site from 8.5 megawatts to 11 megawatts.

The new contract took effect on October 1, 2026, and moved the site from the Tennessee Valley Authority (“TVA”) Manufacturing Service Rate, Schedule MSB, the general industrial rate class from which TVA removed data center load to Columbus Power’s Large Data Service Rate, Schedule DCB, which is the tariff adopted to implement the TVA’s new data center rate. The Company continues to take power at the site without interruption.

TVA’s Data Center Rate and Capacity Commitment Charge

TVA adopted the Large Data Service rate in August 2026 and removed data center load from the general industrial rate class. Data center load, as defined under the new rate, includes Bitcoin mining operations. Beginning with TVA’s fiscal year 2027, which started October 1, 2026, the Large Data Service charges approximately $1.5 million per megawatt Capacity Commitment Rider to new or expanded data center loads above the first five megawatts of contracted demand. For fiscal year 2027, there is a 2,000-megawatt cohort threshold capacity available on a first-come, first-served basis.

Under the TVA’s tariff’s Capacity Commitment Charge Rider, the power load under contract that was effective before October 1 is not subject to the new $1.5 million Capacity Commitment Charge. The Company has not been assessed a Capacity Commitment Charge on any portion of its 11 megawatts of contracted demand. Service under the new rate is available only where the major use of electricity at the delivery point is classified under 2022 NAICS subsector 518 or 519, under NAICS 522320 or 541214, or is used, in TVA’s sole judgment, for the operation of computational equipment.

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