PowerCompute, a Nasdaq-listed Bitcoin mining company, has refinanced $18 million of debt through a Bitcoin-backed loan with Arch Lending. The company pledged 307 BTC from its treasury as collateral. This new facility carries an initial rate of approximately 2% APR, replacing three existing loans including two from AJ Liebel at 12%. PowerCompute retains its Bitcoin exposure but may be required to post additional collateral if Bitcoin’s price declines.
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