PowerCompute mined 8.1 BTC in September, up 37% from a year earlier, while using 267.4 BTC to eliminate a $22.45 million Bitcoin-backed credit facility and release all of the company’s pledged Bitcoin collateral.

The October 8 operating update gives a sharp example of how a modern Bitcoin miner can treat Bitcoin, power infrastructure, and mining hardware as parts of the same capital system. PowerCompute is reducing leverage, refreshing its ASIC fleet, selling electricity during hot-weather curtailment, and keeping its Oklahoma and Mississippi sites available for both mining and future HPC/AI workloads.

September Production Rose to 8.1 BTC

In its September operating update, PowerCompute said it mined 8.1 BTC, up 2.7% from 7.9 BTC in August and up 37% from 5.9 BTC in September 2025. The results are preliminary and unaudited.

The production increase arrives while network competition remains intense. BitcoinVersus.Tech recently reported that global Bitcoin hashrate was holding near 941 EH/s, while hashprice remains the key revenue-per-unit-of-compute metric operators watch when deciding whether to run, throttle, or shut down machines.

267.4 BTC Went Toward the Loan

The bigger balance-sheet change was the repayment of the Arch credit facility. PowerCompute said it applied 267.4 BTC to repay approximately $22.45 million of principal and accrued interest, cutting total secured debt from $23.70 million to $1.25 million and releasing all Bitcoin that had been pledged as collateral.

The company’s Bitcoin balance consequently fell from 323.02 BTC at the end of August to 63.7 BTC at the end of September. At the company’s stated September 30 Bitcoin price of approximately $83,900, that remaining balance was valued at about $5.3 million.

The company’s October 8 Form 8-K confirms that the September mining update was formally furnished to the SEC. A prior company update said the credit facility was settled on its scheduled reset date rather than through a margin call or forced liquidation.

The Treasury Strategy Has Changed

PowerCompute is no longer presenting Bitcoin accumulation as the primary objective. Management has said it intends to use Bitcoin as working capital for equipment purchases, operating requirements, and growth rather than maintain a leveraged Bitcoin-treasury strategy.

That puts the company on a different path from miners that emphasize long-term Bitcoin accumulation. BitcoinVersus.Tech recently covered MARA’s decision to sell a large portion of its Bitcoin while rebuilding around power and AI infrastructure. PowerCompute is much smaller, but the common theme is that public miners increasingly treat Bitcoin as a balance-sheet tool rather than an untouchable reserve.

Power Sales Added $312,000 in Three Months

PowerCompute also generated approximately $89,000 from energy sales in September and approximately $312,000 during the three months ended September 30. The company said those sales occurred during seasonal heat-related curtailment at its Oklahoma and Mississippi sites.

This is the core economic advantage of a flexible mining load. A Bitcoin mine can sometimes make more money by temporarily stopping ASIC hashboards and selling or releasing power than by continuing to hash through a high-priced grid event. BitcoinVersus.Tech has covered both research showing why flexible mining can pair with variable power and software that automates separate curtail and resume prices.

The S19 XP Refresh Is About More Hashrate Per Megawatt

The other half of the strategy is fleet efficiency. PowerCompute has been replacing older S19 and S19j Pro machines with 1,940 Bitmain Antminer S19 XP units. The newer machines are expected to average about 132 TH/s at roughly 21.5 J/TH, compared with older units around 95 TH/s and roughly 34 J/TH.

PowerCompute has described that swap as nearly 39% more hashrate per machine replaced on comparable power. That is the same efficiency race driving the broader market from the S19 generation toward newer S21-class hardware. BitcoinVersus.Tech recently described the transition as the “S21 is the new S19” phase of fleet economics.

The Mississippi Expansion Could Push Active Hashrate Toward 964 PH/s

PowerCompute’s mining footprint remains relatively small compared with the largest public miners, but it owns 26 MW of interconnected capacity across Calumet, Oklahoma, and Columbus, Mississippi. The company has said additional Mississippi deployment plus its Oklahoma fleet modernization could eventually increase active mining hashrate toward approximately 964 PH/s.

The Mississippi site is also becoming strategically more important. BitcoinVersus.Tech reported this week that PowerCompute expanded the site’s contracted capacity to 11 MW under a new TVA-linked tariff structure. That provides more room to choose between Bitcoin mining, power-market participation, and future compute deployments.

PowerCompute/US Digital Mining executive Todd Liebel has also described the Columbus operation as a flexible load that can shut down and return capacity to the local grid during high-demand periods, reinforcing why energy-market participation is becoming part of the mining business model.

Bitcoin Mining Is Becoming a Power-Allocation Business

The September update is less about one month of production than about how mining economics are changing. PowerCompute’s management now describes each megawatt as an asset that can be pointed toward the best available risk-adjusted return: Bitcoin mining, energy sales, or eventually HPC and AI.

That does not mean mining disappears. Mining has one major advantage over conventional data-center workloads: it can monetize energized power immediately and can shut down quickly when grid economics change. HPC and AI can potentially earn more per megawatt, but they require additional capital, higher uptime, more complex cooling and networking, and contracted customers.

For PowerCompute, the near-term formula is therefore straightforward: lower debt, improve wall-level mining efficiency, expand usable megawatts, and keep the ability to curtail whenever electricity becomes more valuable than hash.

What to Watch Next

The next operational checkpoints are whether the remaining S19 XP units arrive and perform as expected, whether Mississippi expansion pushes the fleet toward the company’s projected hashrate, and how often power sales outperform mining during peak grid conditions. The company must also prove that any HPC or AI deployment can earn more from those same megawatts after accounting for the additional infrastructure required.

September’s 8.1 BTC production is a small number beside the industry’s largest miners. The more interesting number may be the 267.4 BTC that left the treasury: PowerCompute used it to remove a large fixed liability and turn the company’s power portfolio back into an unencumbered operating asset.

BitcoinVersus.Tech

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BitcoinVersus.Tech covers Bitcoin mining, ASIC hardware, energy markets, data centers, semiconductors, networking, and the infrastructure behind compute.

Editor’s Note

PowerCompute’s September mining figures are preliminary and unaudited. Forward-looking hashrate, efficiency, deployment, HPC, and AI targets depend on equipment delivery, energization, operating conditions, network difficulty, Bitcoin price, power prices, and customer execution.

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BitcoinVersus.tech is not a financial advisor. Content is provided for informational purposes.