PowerCompute Mines 8.1 Bitcoin In September After Using BTC To Slash Debt

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. TL;DR: PowerCompute mined 8.1 BTC in September, up 37% from a year earlier. Its month-end Bitcoin holdings fell to 63.7 BTC after the company used 267.4 BTC to help retire a $22.45 million Bitcoin-backed credit facility, leaving most of its secured debt eliminated. PowerCompute’s latest mining update is a useful reminder that a corporate Bitcoin treasury can serve more than one purpose. The Nasdaq-listed miner produced 8.1 BTC in September, a 37% increase from the 5.9 BTC it mined in the same month last year and slightly above August production. At the same time, its Bitcoin holdings fell sharply. PowerCompute ended September with 63.7 BTC, down from 323.02 BTC at the end of August. The reason was debt. The company used 267.4 BTC to help settle principal and accrued interest on a Bitcoin-backed cr...