According to Globenewswire, Bitcoin mining company PowerCompute (formerly LM Funding America) announced the completion of an $18 million debt refinancing, secured by 307 BTC from PowerCompute’s inventory. This refinancing replaces previous loans, including a $11 million loan from Galaxy Digital, a $5 million loan used to acquire a 15MW facility in Oklahoma, and a $2 million loan used to acquire an 11MW facility in Mississippi. The refinancing will support its expansion from Bitcoin mining into high-performance computing (HPC) and artificial intelligence (AI) infrastructure.
Bitcoin Miner PowerCompute Completes $18M Debt Refinancing with 307 BTC Collateral
TechFlowShare
Summary
Bitcoin news: PowerCompute, a Bitcoin miner formerly known as LM Funding America, has finalized $18 million in debt refinancing, using 307 BTC as collateral. The transaction replaces an $11 million loan from Galaxy Digital, a $5 million loan for a 15MW facility in Oklahoma, and a $2 million loan for an 11MW site in Mississippi. The refinancing supports the company’s transition into high-performance computing and AI infrastructure. Bitcoin analysis reveals increasing miner activity in diversified technology sectors.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.