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PowerCompute — Q3 2026 Earnings Summary

  • Q3 2026 revenue declined 13.6% to $1.9 million (vs. $2.2 million in Q3 2025) due to a 37.5% drop in average Bitcoin price to ~$71,400, despite a 35.8% increase in production volume to 23.9 Bitcoin; net income turned positive at $0.4 million ($0.20/share) versus a $4.1 million loss in Q3 2025, driven by a $6.7 million fair value gain and reduced operating costs.
  • Mining margin improved to 50.7% from 29.0% in Q2 2026 as energy costs per Bitcoin fell to ~$35,000 from $58,000; total liabilities were significantly reduced to $3.7 million from $21.6 million in June 2026 following the repayment of a Bitcoin-backed credit facility, lowering secured debt to $1.25 million.
  • The company purchased 600 Bitmain Antminer S21++ miners for $1.0 million, with 600 units expected in service by mid-December 2026 to increase active hashrate by 10% to ~880 PH/s, while replacing older units in Oklahoma to improve efficiency by 39% per machine swap.
  • Total liquidity stood at $6.0 million as of September 30, 2026, comprising 63.8 Bitcoin and $0.7 million in cash; however, the company disclosed substantial doubt regarding its ability to continue as a going concern, citing risks related to Nasdaq listing requirements, equipment availability, and debt refinancing.
Company
POWERCOMPUTE INC
Sector
Financial Services
Industry
Capital Markets