PowerCompute (Nasdaq: PWCM) Reports Third Quarter 2026 Results: Bitcoin Production Up 36%; Buys 600 S21++ Miners Expected to Add About 10% to Hashrate

Bruce M. Rodgers, Chairman, Chief Executive Officer and President of PowerCompute

“We own 26 megawatts of interconnected power, and our job is to earn the best return we can on every one of them,”

Bruce M. Rodgers, Chairman, Chief Executive Officer and President of PowerCompute

“This quarter we repaid our Bitcoin-backed debt, and we now use Bitcoin as working capital rather than collateral.”

Bruce M. Rodgers, Chairman, Chief Executive Officer and President of PowerCompute

“This month we paid cash for 600 new miners that go into slots we already have and should add about 10% to our hashrate by mid-December.”

Bruce M. Rodgers, Chairman, Chief Executive Officer and President of PowerCompute

“We keep replacing older machines with ones that produce more hashrate on the same power, and this summer we sold power back to the grid when that paid more than mining with it.”

Bruce M. Rodgers, Chairman, Chief Executive Officer and President of PowerCompute

“Our GPU work in Oklahoma is early, but it is teaching us what it takes to run HPC on power we already own.”

Richard Russell, Chief Financial Officer of PowerCompute

“Revenue fell because each Bitcoin we mined was worth less on average, not because we mined less,”

Richard Russell, Chief Financial Officer of PowerCompute

“This quarter’s net income primarily came from lower operating costs and fair value gains as Bitcoin rose, on Bitcoin held as working capital and Bitcoin held under the settled Arch facility.”

Richard Russell, Chief Financial Officer of PowerCompute

“What continues is the lower cost of debt: interest on our remaining secured debt now runs about $138,000 a year, and that note matures December 31, 2027.”