September 2026
Filed Oct 8, 2026September 2026 Bitcoin Production and Operational Update: mined 8.1 Bitcoin, generated approximately $89,000 from energy sales, and repaid the Bitcoin-backed facility in full with 267.4 Bitcoin.
Bitcoin production increased year-over-year and sequentially, and the Company eliminated its Arch credit facility, but the repayment reduced Bitcoin held to 63.7 BTC and the filing provides no income statement, cash flow statement, balance sheet cash balance, or forward financial guidance.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Bitcoin mined, net, September 2026other | 8.1 | up 2.7% | up 37% |
| Bitcoin sold, September 2026other | — | – | – |
| Bitcoin applied to debt repayment, September 2026other | (267.4) | – | – |
| Service fee, September 2026other | — | – | – |
| Bitcoin ending balance, September 2026other | 63.7 | – | – |
| Energy sales, September 2026other | approximately $89,000 | – | – |
| Energy sales, three months ended September 30, 2026other | approximately $312,000 | – | – |
| Bitcoin held value at September 30, 2026other | approximately $5.3 million | – | – |
| Bitcoin price at September 30, 2026other | approximately $83,900 | – | – |
| Bitcoin held value per share of common stock outstanding at September 30, 2026other | approximately $2.11 per share of common stock outstanding | – | – |
| Shares of common stock outstanding at September 30, 2026other | 2,535,061 shares | – | – |
| Arch credit facility principal and accrued interest repaidother | approximately $22.45 million | – | – |
| Total secured debt following Arch facility repaymentother | $1.25M | – | – |
What drove it
- Bitcoin production was approximately 8.1 BTC, up 37% from 5.9 BTC in September 2025 and up 2.7% from 7.9 BTC in August 2026.
- The Company generated approximately $89,000 from energy sales during seasonal heat-related curtailment at its Oklahoma and Mississippi sites.
- The Company stated that, in the hottest months, selling power back to the grid can generate more than using that power for mining.
- The Company operates 26 megawatts of interconnected electrical infrastructure across Bitcoin data center facilities in Oklahoma and Mississippi.
Concerns
- The filing is a preliminary, unaudited monthly operational update and does not provide a full set of financial statements.
- Bitcoin held fell to 63.7 BTC at September 30, 2026 from 323.02 BTC at August 31, 2026 because 267.4 Bitcoin was applied to debt repayment.
- The Company identifies risks related to Bitcoin prices, Bitcoin network difficulty and total network hash rate.
- The Company identifies risks around the availability and pricing of energy sales and curtailment revenue.
- The Company identifies risks related to converting owned power capacity to HPC and AI use, obtaining equipment, and securing HPC and AI customers.
- The Company identifies a risk related to maintaining compliance with Nasdaq continued listing requirements, including the minimum bid price requirement.
What to watch
- Bitcoin production following the reported 8.1 BTC mined in September 2026.
- Energy-sales generation and the relative economics of energy sales versus Bitcoin mining.
- The remaining $1.25 million of secured debt and the Company's ability to repay or refinance indebtedness at or before maturity.
- The Company's progress in converting owned power capacity to HPC and AI use and securing customers for that capacity.
- Bitcoin holdings following the release of collateral and the September debt repayment.
Balance sheet and cash flow
- PowerCompute applied 267.4 Bitcoin to repay approximately $22.45 million of principal and accrued interest under its Arch credit facility.
- The repayment reduced total secured debt from $23.70 million to $1.25 million.
- Bitcoin held decreased to 63.7 BTC at September 30, 2026 from 323.02 BTC at August 31, 2026.
- All Bitcoin previously pledged as collateral under the Arch facility was released.
Analysis
PowerCompute reported preliminary, unaudited results for the month ended September 30, 2026. Net Bitcoin mined was 8.1, compared with 5.9 in September 2025 and 7.9 in August 2026. The Company characterized those comparisons as growth of 37% year-over-year and 2.7% from August 2026. The update therefore indicates improved Bitcoin production on both reported comparison bases.
Energy sales were approximately $89,000 in September and approximately $312,000 for the three months ended September 30, 2026. Management attributed the activity to seasonal heat-related curtailment at the Oklahoma and Mississippi sites and stated that selling electricity to the grid can be more economic than mining during the hottest months. This makes energy sales a reported operating contribution alongside Bitcoin mining, although the filing does not provide total revenue or profitability.
The principal capital-structure event was the full repayment of the Arch credit facility. PowerCompute applied 267.4 Bitcoin to repay approximately $22.45 million of principal and accrued interest, reducing total secured debt from $23.70 million to $1.25 million. All Bitcoin that had been pledged under the Arch facility was released. The transaction materially changed the reported Bitcoin position: ending Bitcoin was 63.7 BTC at September 30, 2026 versus 323.02 BTC at August 31, 2026.
At September 30, 2026, the Company valued its 63.7 BTC at approximately $5.3 million based on a Bitcoin price of approximately $83,900, or approximately $2.11 per share of common stock outstanding. The Company had 2,535,061 shares of common stock outstanding on that date. The filing provides no formal financial outlook, and no GAAP or non-GAAP revenue, margin, operating-income, net-income, earnings-per-share, operating-cash-flow, free-cash-flow, or cash-balance figures.
Management emphasized allocation of its owned, interconnected power among Bitcoin mining, energy sales, and potential HPC and AI computing. The reported operational improvement and debt reduction are the key positives, while the reduced Bitcoin holdings, remaining secured debt, Bitcoin-market exposure, and unquantified execution around HPC and AI development remain central items for subsequent updates.
Management, verbatim
We used Bitcoin to retire debt rather than carry leverage.
Bruce M. Rodgers, Chairman, Chief Executive Officer and President of PowerCompute
We intend to direct each megawatt to the use we believe offers the best risk-adjusted return, whether that is Bitcoin mining, energy sales or, as we develop it, HPC and AI computing.
Bruce M. Rodgers, Chairman, Chief Executive Officer and President of PowerCompute
Not in the filing
stated, not guessed- Total revenue
- Segment revenue
- Gross profit and gross margin
- Operating expenses
- Operating income or loss
- Net income or loss
- GAAP earnings per share
- Non-GAAP earnings per share
- Operating cash flow
- Free cash flow
- Cash balance
- Total debt other than the stated total secured debt reduction and remaining $1.25 million of secured debt
- Dividend information
- Share repurchase information
- Formal forward guidance
- Prior-outlook guidance comparison
- Mining hash rate
- Fleet efficiency
- Active mining hash rate
- HPC and AI revenue or customer metrics
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was checked against the filing text, and a metric whose value, prior period and change do not add up is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.