Odaily Planet Daily reports: Bitcoin mining company PowerCompute has restructured three debts totaling $18 million through Arch Lending, using 307 bitcoins from its reserves as collateral, replacing previous loans from institutions such as Galaxy Digital. The new financing features a non-recourse, 30-day revolving structure with an current annualized interest rate of approximately 2%, lower than the 12% on some of the previous loans, enabling the company to reduce interest expenses without selling its bitcoins.
Bitcoin Miner PowerCompute restructures $18M debt at a 2% interest rate
KuCoinFlashShare
Summary
Bitcoin news: PowerCompute, a Bitcoin miner, has restructured $18 million in debt using 307 BTC as collateral through Arch Lending. The new loan replaces prior financing from Galaxy Digital and others. The updated terms offer an annual interest rate of 2%, down from 12%. The 30-day revolving structure is non-recourse.
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.