Bitcoin mining company PowerCompute completed a $18 million debt refinancing by pledging 307 BTC as collateral

According to Globenewswire, Bitcoin mining company PowerCompute (formerly LM Funding America) announced the completion of a $18 million debt refinancing, using 307 BTC from PowerCompute's inventory as collateral. This replaces previous loans including a $11 million loan from Galaxy Digital, a $5 million loan for the acquisition of a 15 MW facility in Oklahoma, and a $2 million loan for the acquisition of an 11 MW facility in Mississippi.

This refinancing will drive its expansion from Bitcoin mining to high-performance computing (HPC) and artificial intelligence (AI) infrastructure.