PowerCompute fully repays Arch Bitcoin-backed loan, exits leveraged Bitcoin treasury strategy
Source：
www.wsj.com
According to WSJ, US-listed Bitcoin mining company PowerCompute (Nasdaq: PWCM) has fully repaid and terminated its Bitcoin-secured credit facility with Arch Lending. The facility settled on its maturity/reset date on September 24; Arch sold approximately 267.3 of the 307 collateralized BTC to repay about $22.45 million in principal, interest, and fees, while the remaining approximately 39.6 BTC were returned to the company. PowerCompute noted that the settlement proceeded as planned and was not triggered by a margin call or forced liquidation. After the repayment, the company’s secured debt fell from roughly $19.4 million at the end of June to about $1.25 million. As of September 25, it holds approximately 62 BTC. The company said it will step away from its leveraged Bitcoin treasury strategy, using Bitcoin as working capital for equipment procurement and expansion.
