PowerCompute fully repaid Arch Bitcoin collateral loans and exited the leveraged Bitcoin treasury strategy

According to a report by the WSJ, the U.S. stock-listed Bitcoin mining company PowerCompute (Nasdaq: PWCM) has fully repaid and terminated its Bitcoin collateralized credit line with Arch Lending. This line was settled on the reset date of September 24, with Arch selling approximately 267.3 of the 307 pledged BTC to repay about $22.45 million in principal, interest, and fees, while approximately 39.6 BTC has been returned to the company.

PowerCompute stated that the settlement was carried out as planned and was not due to additional margin calls or forced liquidations. After repayment, the company's secured debt decreased from about $19.4 million at the end of June to approximately $1.25 million, with about 62 BTC held as of September 25. The company announced it will exit its leveraged Bitcoin treasury strategy, with Bitcoin being used as operating capital for equipment procurement and expansion.