Trimming the fat, PowerCompute Pays 94% of Total Debt

PowerCompute (NASDAQ: PWCM) announced that they have paid Bitcoin-backed credit facility fully repaid and terminated. No Bitcoin remains pledged.

Total secured debt reduced from approximately $19.4 million at June 30, 2026 to approximately $1.25 million, a reduction of approximately 94%. Remaining secured borrowings consist of a single secured promissory note maturing December 31, 2026, none of which is secured by Bitcoin.

With this repayment, PowerCompute has reduced total secured debt from approximately $19.4 million as of June 30, 2026, as reported in the Company’s June 30, 2026, Form 10-Q, to approximately $1.25 million — a reduction of approximately 94% in approximately three months. The Company’s remaining secured borrowings consist of a single secured promissory note maturing December 31, 2026. None of the Company’s remaining borrowings is secured by Bitcoin.

“Repaying the secured debt lowers our annual interest expense to approximately $140 thousand for our remaining secured debt on a annual basis and eliminates the annual interest expense and the collar-related expense that came with the prior Galaxy and Arch credit facilities,” said Richard Russell, Chief Financial Officer of PowerCompute. “We have reduced total debt by approximately 94% in approximately three months, from $19.4 million to approximately $1.25 million, and none of our Bitcoin remains pledged as collateral. That is a materially simpler capital structure and allows us to direct more capital toward productive mining assets instead of debt service.”

As of September 25, 2026, PowerCompute held approximately 62 Bitcoin, valued at approximately $5.2 million based on a Bitcoin price of approximately $84,500 as of that date.