PowerCompute, a Bitcoin miner expanding into high-performance computing, saw its US Digital subsidiary borrow approximately $18.07 million from Arch Lending through two bridge notes signed July 27, with a maturity date of July 31, four days after signing. The proceeds were intended to repay in full debts owed to Galaxy Digital and Liebel, pending finalization of an anticipated Bitcoin-secured term facility. The borrowed amount of $18,068,845.28 represented approximately 97% of the $18.6 million value PowerCompute assigned to its entire Bitcoin treasury as of June 30. By the contractual payment deadline, no filing had been recorded with the SEC, and the public record did not establish whether refinancing had closed, a default had occurred, or an extension had been granted.
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