PowerCompute Mines 8.1 Bitcoin In September After Using BTC To Slash Debt
BTC when published $81,839Now $80,568 ▼ −1.55% since it was published
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.
First reported by NewsBTC. This page is a short excerpt; the full text is theirs.
