Bitcoin mining company PowerCompute completes $18 million debt refinancing using 307 BTC as collateral
According to Globenewswire, Bitcoin mining company PowerCompute (formerly LM Funding America) announced the completion of an $18 million debt refinancing. The financing is collateralized by 307 BTC from PowerCompute's inventory, replacing previous loans including an $11 million loan from Galaxy Digital, a $5 million loan used to acquire a 15MW Oklahoma facility, and a $2 million loan used to acquire an 11MW Mississippi facility. This refinancing will drive its expansion from Bitcoin mining operations into the high-performance computing (HPC) and artificial intelligence (AI) infrastructure sectors.
