PowerCompute BTC Loan Reset Adds $3.765M to Principal at 6.5% Rate
Aug. 28 filing details PowerCompute's BTC-secured collar reset with new balance, rate, and single Sept. 24 test price.
PowerCompute added a $3.765 million unwind cost to the principal of its BTC-secured loan instead of settling in cash or USDC. The Aug. 28 filing records a replacement 30-day collar balance of $21,892,131.88 secured by 307 BTC, up from the prior $18,127,131.88 balance.
The annual interest rate on the facility rose from 2% to 6.5%. The new collar sets a $71,112 floor, a $75,000 ceiling, and a $93,500 knock-in barrier that will be tested once at 8 a.m. EST on Sept. 24.
Remaining unknowns
The exact calculation method for the unwind cost beyond the reported addition to principal remains undisclosed. It is also unknown whether the Sept. 24 reference price will reach the $93,500 barrier and trigger the ceiling.