PowerCompute borrows $18 million bridge loan from Arch Lending to refinance debt - PWCM News | RalliesPowerCompute borrows $18 million bridge loan from Arch Lending to refinance debt
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PWCM• Bridge loan and debt refinancing
- PowerCompute, via US Digital Mining and Hosting, borrowed $18 million in a bridge loan from ChainFi’s Arch Lending under two Promissory Notes.
- Proceeds will repay $18 million owed to Galaxy Digital and DE & AJ Liebel ahead of an expected bitcoin-secured term loan with Arch.
- The Bridge Notes mature July 31, 2026; interest accrues at the IRS Applicable Federal Rate, payable at maturity; default interest is 15%.
- Separately, a Brown Family Enterprises secured promissory note amendment extends the $1.25 million loan maturity to Dec. 31, 2026.
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