PowerCompute, Inc. (PWCM) asks stockholders to authorize a reverse split of its common stock at a ratio from 1-for-2 to 1-for-10, with the exact ratio chosen by the Board. If approved, the Board may implement it before December 31, 2027, or abandon it; approval does not require a split. Stockholders are also asked to authorize adjournments, if necessary or appropriate, to seek additional proxies. As of October 16, 2026, 2,535,061 shares were outstanding; the company estimates approximately 253,506 to 1,267,531 shares after a split, depending on the ratio and shares outstanding when it takes effect.
PowerCompute completed a 1-for-25 split on July 13, 2026, and Nasdaq notified it on July 27 that it had regained the $1.00 minimum bid-price requirement. If another split is implemented, a new one-year period would begin during which PowerCompute would be ineligible for a bid-price compliance period. A split of 1-for-10 or greater on or before July 13, 2028 would also result in a cumulative ratio of 250 shares or more to one. The company says a split cannot guarantee a sustained share-price increase or continued Nasdaq listing. It also says authorized but unissued common shares would increase and could be issued, diluting holders.
PowerCompute, Inc. (PWCM) reported preliminary, unaudited Bitcoin mining and operating results for September 2026 and completed repayment of its Bitcoin-backed Arch facility. The company applied 267.4 Bitcoin to repay approximately $22.45 million of principal and accrued interest, repaying the facility in full. Total secured debt declined from $23.70 million to $1.25 million, and all Bitcoin pledged under the facility was released.
PowerCompute mined approximately 8.1 BTC in September, up 37% from 5.9 BTC in September 2025 and 2.7% from 7.9 BTC in August 2026. Energy sales generated approximately $89,000 during September and approximately $312,000 for the three months ended September 30, 2026, during seasonal heat-related curtailment at Oklahoma and Mississippi sites. Bitcoin holdings were 63.7 BTC at September 30, 2026, valued at approximately $5.3 million using a Bitcoin price of approximately $83,900, or approximately $2.11 per share of common stock outstanding.
PowerCompute, Inc. increased contracted power at its Columbus, Mississippi data center from 8.5 megawatts to 11 megawatts under a new contract with Columbus Light and Water. The initial term ends September 16, 2030, with a five-year renewal if both parties agree. The contract replaces a prior power contract, and the subsidiary’s estimated share of capital costs for the utility’s facilities is $0.
PowerCompute said it has not been assessed TVA’s approximately $1.5 million-per-megawatt Capacity Commitment Charge on any part of its 11 megawatts. The charge applies to new or expanded data-center loads above the first five megawatts; the tariff exempts power under contract effective before October 1, 2026. Columbus Light and Water is returning PowerCompute’s $300,000 deposit, which the company is replacing with a utility bond; PowerCompute intends to apply the returned cash toward capacity buildout.
PowerCompute, Inc. (PWCM) asks stockholders to authorize an amendment allowing the Board to effect a reverse stock split of its common stock within the range set for stockholder approval, with the Board choosing the exact ratio. If approved, the Board could act before December 31, 2027, but would not be required to proceed and may abandon the amendment. The Board recommends voting FOR both proposals, including the proposal to adjourn if more proxies are needed.
PowerCompute completed a 1-for-25 reverse split on July 13, 2026. Nasdaq notified the company on July 27, 2026, that its closing bid was at least $1.00 for the ten consecutive business days from July 13 through July 24, and that it had regained compliance with the minimum bid-price requirement. The Board seeks advance authority in case the share price falls below that threshold again.
If the Board effects another split under the requested authority, a new one-year period would begin during which the company would not be eligible for a compliance period for a new bid-price deficiency. A split at a ratio of 1-for-10 or greater on or before July 13, 2028, would also bring the two-year cumulative ratio to 250 shares or more to one. The amendment would leave authorized common shares unchanged as outstanding shares decrease; the resulting authorized but unissued shares could be issued and dilute common holders.
PowerCompute, Inc. (PWCM) repaid and terminated its Bitcoin-backed credit facility with ChainFi, Inc. d/b/a Arch Lending on September 24, 2026, settling approximately $22.45 million of obligations. Arch sold approximately 267.3 of the 307 pledged Bitcoin to satisfy $21,892,132 of principal, $118,582 of accrued interest and a $440,122 fee, and returned approximately 39.6 Bitcoin; no Bitcoin remains pledged.
Total secured debt fell from approximately $19.4 million as of June 30, 2026 to approximately $1.25 million, a reduction of approximately 94%. The remaining secured borrowings consist of one secured promissory note maturing December 31, 2026. PowerCompute said annual interest expense for its remaining secured debt is approximately $140,000.
PowerCompute plans to deploy mining equipment across approximately 3.5 MW of owned, interconnected Mississippi capacity that is not yet energized and to continue modernizing its Oklahoma fleet. Upon completion, it expects active mining hash rate to reach approximately 964 PH/s, from approximately 763 PH/s as of August 31, 2026. Its owned capacity totals 26 MW, at a blended power cost net of power sales of approximately 3.3 cents per kilowatt-hour.
PowerCompute, Inc. (PWCM) announced a Bitcoin-mining fleet refresh: 1,000 Bitmain Antminer S19 XP miners are expected at its Oklahoma facility by September 30, 2026, and 940 more, ordered September 22, 2026, are expected to be delivered and installed in October. The new units average 132 TH/s; the company says replacing 95 TH/s machines with these units provides nearly 39% more hashrate per machine. S19J Pro units rated at 100 TH/s or below will move from Oklahoma to Mississippi to replace S19 units averaging 95 TH/s.
After redeployment, PowerCompute expects approximately 822 PH/s, compared with 771 PH/s as of June 30, 2026. With the additional units online, it expects approximately 862 PH/s, a cumulative 11.8% increase over that baseline. The company estimates approximately $1.2 million in annual incremental revenue capacity before curtailment and downtime, using a hashprice of $40.00 per PH/s per day as of September 21, 2026. It has funded and expects to fund the approximately $400,000 cost from cash on hand and Bitcoin holdings.
PowerCompute held 323 Bitcoin as of August 31, 2026, valued at approximately $27.8 million using a Bitcoin price of approximately $86,000 as of September 21, 2026. It also cited up to 3 megawatts of energized capacity in Mississippi for expansion that would require additional infrastructure and capital.
PowerCompute, Inc. (PWCM) reported preliminary Bitcoin mining and operational metrics for August 2026, including holding 323 Bitcoin valued at approximately $25.2 million as of August 31, 2026. Of these, 307 Bitcoin are pledged as collateral under its Arch credit facility, with approximately $21.9 million outstanding on that facility.
The company mined 7.9 Bitcoin in August, consistent with July 2026 production, as seasonal heat-driven curtailment at its Oklahoma and Mississippi sites continued. That curtailment generated approximately $132,000 in energy sales during August and about $223,000 over the past two months. Bitcoin holdings labeled as “HODL” increased from 315.1 BTC in July 2026 to 323.0 BTC in August 2026. PowerCompute reported 2,421,472 shares of common stock outstanding as of August 31, 2026.
The company is refreshing its mining fleet, having ordered approximately 1,000 new miners to replace older S19j Pro units rated at 100 TH/s or below. Once energized, expected by September 30, 2026, management estimates active hash rate could rise about 7%, from a reported 771 PH/s as of June 30, 2026 to a forecasted 825 PH/s, on newer and more efficient hardware.
POWERCOMPUTE, INC. (PWCM) entered into a new non-recourse, 30-day collared loan facility through its wholly owned subsidiary US Digital Mining and Hosting Co, LLC with ChainFi Inc. d/b/a Arch Lending. The facility is secured by 307 Bitcoin and structured as a "Collar Loan" with floor, ceiling, and barrier prices.
On August 25, 2026, the subsidiary borrowed $21,892,131.88 at an interest rate of 6.5% per annum. About $18.1 million was used to pay off a previously disclosed August 3, 2026 Arch loan, and $3.765 million funded the collar feature of that earlier loan. The initial 30-day period uses a $71,112 floor price per Bitcoin, a $75,000 ceiling price, and a $93,500 barrier price. The Collar Loan automatically rolls over for successive 30-day periods unless notice of non-renewal is given, with key pricing terms reset based on then-prevailing market conditions.
PowerCompute, Inc. (PWCM) reported a preliminary Bitcoin mining and operational update for July 2026. The company mined 7.9 BTC, sold 11.1 BTC, and ended July 31, 2026 with a Bitcoin treasury of 315.1 BTC valued at approximately $20.2 million, based on a Bitcoin price of about $64,000. Bitcoin holdings value subsequently increased to about $21.5 million as of August 19, 2026, using a Bitcoin price of $68,200.
PowerCompute generated about $91,000 in curtailment and energy sales revenue in July, reflecting heat-related curtailment at its Oklahoma and Mississippi sites. After month-end, the company refinanced and consolidated approximately $18 million of debt into a single facility with Arch Lending secured by Bitcoin collateral. PowerCompute operates 26 megawatts of wholly owned power infrastructure for Bitcoin mining and is expanding into high-performance computing and AI infrastructure while also running a technology-enabled specialty finance business.
PowerCompute, Inc. reported continued losses from its Bitcoin mining and specialty finance operations for the quarter and six months ended June 30, 2026. Total assets were $37.1 million with stockholders’ equity of $15.5 million, down sharply from December 31, 2025 as Bitcoin prices and digital asset values declined.
For the six-month period, revenue was $4.2 million while the net loss attributable to the company widened to $14.7 million from $5.3 million a year earlier, driven largely by a $5.1 million loss on the fair value of Bitcoin, a $4.9 million loss on digital assets receivable, and higher mining-related costs. Operating cash outflow was $7.2 million.
The company had cash of $0.9 million and Bitcoin with fair value of $8.4 million on hand, much of it pledged as loan collateral, against total debt of about $19.6 million, including loans under the Galaxy Loan Facility and other lenders. Management concluded that these losses, negative working capital, and near-term debt maturities raise substantial doubt about the company’s ability to continue as a going concern. Subsequent actions included refinancing key loans, additional ATM equity sales, and the launch of an AI and high-performance computing infrastructure initiative leveraging 26 MW of power capacity.