powercompute

💥👀 PowerCompute puts 307 BTC behind a new 30-day financing reset

Bitcoin treasury and mining company PowerCompute has rolled its financing tied to 307 BTC into a new 30-day collar with Arch Lending.

The previous collar was terminated early on Aug. 25, with a $3.765 million unwind cost added to the loan principal instead of being paid separately. The replacement balance is now about $21.89 million, while the annual interest rate increased from 2% to 6.5%.

The new collar runs through Sept. 24 and sets a $71,112 floor, a $75,000 ceiling and a $93,500 knock-in barrier. Importantly, the $93,500 level is not a liquidation price. Only if the Sept. 24 reference price reaches at least $93,500 does the ceiling become effective, potentially creating a $5.68 million settlement before interest.

The structure highlights the risks and complexity of using Bitcoin treasury holdings as collateral for financing.

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PowerCompute restructures an $18 million debt using Bitcoin as collateral

- The Nasdaq-listed company, PowerCompute, has just refinanced a $18 million debt.
- The loan is secured by Bitcoin with an initially extremely favorable interest rate of only around 2%.
- The move signals a growing trend among listed companies to increasingly trust using BTC as collateral to optimize financing costs.

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Source: CoinTelegraph