PowerCompute mortgages 307 bitcoins to restructure $18 million in debt

On 6 August, according to information received, a Bitcoin mining company, PowerCompute, secured 307 bitcoins from its reserves, reorganized three debts totalling $18 million through ArchLending to replace loans previously received from institutions such as Galaxy Digital. The new financing follows a non-recourse-free, 30-day cycle structure, with the current annualized interest rate of approximately 2 per cent, which is below 12 per cent of some old loans, allowing companies to reduce interest expenditure without selling bitcoin。