PowerCompute expects 11.8% Bitcoin hashrate gain
With both installation phases online, PowerCompute expects 862 PH/s and estimates $1.2 million in annual incremental revenue capacity before curtailment and downtime.
Rhea-AI Filing Summary
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.
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FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What mining equipment is PWCM installing in September and October 2026?
What hashrate does PWCM expect after the miner upgrades?
How much does PWCM estimate the miner refresh will cost, and how will it be funded?
What incremental revenue capacity does PWCM estimate from the new miners?
How much Bitcoin did PWCM hold, and what was its stated value?
What machine-efficiency figures did PWCM report?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure
On September 23, 2026, the Company issued a press release relating to the Company’s update of its Bitcoin mining operations. A copy of the press release is filed herewith as Exhibit 99.1 and is incorporated by reference.
The disclosure in this Item 7.01, including Exhibit 99.1, is not deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liability under that Section. This information will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except to the extent that the Company specifically incorporates it by reference.
Item 9.01 Financial Statements and Exhibits.
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Press Release dated September 23, 2026 |
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This Current Report on Form 8-K may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainty. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” and “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Such statements are based on the Company’s current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Investors are cautioned that there can be no assurance actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various risks and uncertainties. Investors should refer to the risks detailed from time to time in the reports the Company files with the SEC, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as well as other filings on Form 10-Q and periodic filings on Form 8-K, for additional factors that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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PowerCompute, Inc. |
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September 23, 2026 |
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/s/ Richard Russell |
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Richard Russell, Chief Financial Officer |
PowerCompute Miner Refresh Expected to Deliver Nearly 39% More Hashrate Per Machine Replaced
August 2026 BTC Balance of 323 Bitcoin Valued at $27.8 Million
1,000 new Bitmain XP miners to be installed September 2026 and 940 additional miners ordered for October with existing cash reserves
TAMPA, FL, September 23, 2026 — PowerCompute, Inc. (Nasdaq: PWCM) (“PowerCompute” or the “Company”), a Bitcoin treasury and mining company expanding into high-performance computing (“HPC”) and artificial intelligence (“AI”) infrastructure, today announced progress on its fleet efficiency upgrade program.
Oklahoma Upgrade Completed. The Company anticipates it will install 1,000 additional Bitmain Antminer S19 XP miners at its Oklahoma facility by September 30, 2026. The units to be installed are averaging 132 terahash per second (TH/s). The new miners will replace S19J Pro units rated at 100 TH/s or below. The Company is moving those existing S19J Pro units to its Mississippi facility, where they will replace S19 units averaging 95 TH/s. Once that redeployment is complete, the Company expects a total hashrate of approximately 822 petahash per second (PH/s), up approximately 6.6% from 771 PH/s as of June 30, 2026.
Additional Order. On September 22, 2026, the Company ordered 940 additional S19 XP miners to replace S19 units averaging 95 TH/s located in Mississippi. The Company expects delivery and installation in October 2026. Assuming these units perform in line with those already installed, the Company expects total hashrate of approximately 862 PH/s once they are online, a cumulative increase of approximately 11.8% over June 30, 2026.
More Hashrate on the Same Power. Each new unit ultimately relaces a machine producing 95 TH/s with a machine averaging 132 TH/s, an increase of nearly 39% per machine. The new units draw comparable power to the machines they replace and are more efficient, at approximately 21.5 joules per terahash for the new units compared with approximately 34 for the retired units. The Company's power infrastructure and power cost on a per-unit basis is not expected to change, so the added hashrate translates directly into more Bitcoin mined and more revenue from the same amount of electricity. Across the 1,000 units to be installed in September and the 940 on order, the Company estimates incremental revenue capacity of approximately $1.2 million per year from the new machines to be installed based on a hashprice of $40.00 per PH/s per day as of September 21, 2026, before curtailment and downtime.
Funding.The Company's total cost for the 1,000 units acquired in September and the 940 units on order is approximately $400,000. The Company has funded and expects to fund these purchases from cash on hand and its Bitcoin holdings.
What Comes Next. Beyond the refresh, the Company has up to 3 megawatts of additional energized capacity in Mississippi available for expansion, which would require additional infrastructure and capital.
"We anticipate that every machine we replace will give us nearly 39% more hashrate on the same power," said Bruce M. Rodgers, Chairman, Chief Executive Officer and President of PowerCompute. "That means more Bitcoin and more revenue from electricity we already own, and we are paying for it from our own resources. We also have up to 3 megawatts of energized capacity in Mississippi to expand into either AI or BTC mining."
Bitcoin Treasury. As of August 31, 2026, the Company held 323 Bitcoin, valued at approximately $27.8 million based on a Bitcoin price of approximately $86,000 as of September 21, 2026.
About PowerCompute
PowerCompute, Inc. (Nasdaq: PWCM) is a Bitcoin treasury and mining company expanding into high-performance computing and artificial intelligence infrastructure. Founded in 2008 and headquartered in Tampa, Florida, the Company operates 26 megawatts of wholly-owned power infrastructure across facilities in Oklahoma and Mississippi. The Company also operates a technology-enabled specialty finance business providing funding to nonprofit community associations primarily in the State of Florida. For more information, please visit https://www.power-compute.com.
Forward-Looking Statements
This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” and “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the Company’s most recent Annual Report on Form 10-K and its other filings with the SEC, which are available at www.sec.gov. These risks and uncertainties include, without limitation, the volatility of Bitcoin and other cryptocurrency prices, risks related to the use of Bitcoin as collateral for the Arch Facility, including the requirement to post additional collateral if the value of Bitcoin declines, our ability to satisfy the terms and conditions of the Arch Facility or to extend such loans on satisfactory terms, our ability to successfully enter and operate in the high-performance computing and AI infrastructure business, the availability and cost of GPU and related infrastructure equipment, the timely delivery, installation and energization of newly ordered mining equipment and our ability to realize anticipated increases in hashrate, competition in the HPC and AI compute market, our ability to finance our site acquisitions and cryptocurrency mining operations, the risks of operating in the cryptocurrency mining business and our ability to grow that business, the capacity of our Bitcoin mining machines and our related ability to purchase power at reasonable prices, and our ability to identify and acquire additional mining sites. The occurrence of any of these risks and uncertainties could have a material adverse effect on our business, financial condition, and results of operations.
Investor and Media Contact
KCSA Strategic Communications
Philip Carlson
pwcm@kcsa.com
212-896-1233