PowerCompute orders 940 more miners as fleet targets 11.8% hashrate gain
The second batch is due in Mississippi in October after an Oklahoma installation planned for Sept. 30.
Julian Okafor
An order for 940 more bitcoin miners could lift a small fleet's hashrate 11.8 per cent above its June 30 level by October, if installations at two sites go ahead. PowerCompute, Inc. NASDAQPWCM, a Tampa bitcoin miner and treasury company, said on Sept. 23 that the order follows an initial purchase of 1,000 units. It forecasts 862 petahashes per second once both batches are installed, compared with 771 on June 30.
PowerCompute shares fell to US$1.07 on Nasdaq at 10:32 a.m. EDT on Sept. 23, according to its NASDAQPWCM quote. The NASDAQPWCM quote at 10:32 a.m. EDT listed the Sept. 22 close at US$1.13.
In its Sept. 23 release, the company puts the combined acquisition cost at about US$400,000, which it says it has funded or expects to fund with cash and bitcoin holdings. Its estimated US$1.2 million in annual incremental revenue capacity assumes a Sept. 21 hashprice of US$40 per petahash per second per day. The estimate excludes downtime and curtailment and awaits actual production after installation.
The first 1,000 units are expected to be installed in Oklahoma by Sept. 30. PowerCompute then plans to move displaced equipment to Mississippi and install the additional 940 machines there in October, making delivery and commissioning the immediate tests of the forecast.
First Installation Remains Due Sept. 30
The new Bitmain Antminer S19 XP units average 132 terahashes per second, according to PowerCompute's Sept. 23 release. In Oklahoma they replace S19J Pro machines rated at 100 terahashes per second or less; those older machines are headed to Mississippi to displace S19 units averaging 95. PowerCompute expects the first replacement and redeployment to lift fleet hashrate to about 822 petahashes per second. That would be 6.6 per cent above its June 30 rate of 771.
PowerCompute's Sept. 9 August operations update forecast 825 petahashes per second after the initial order was energized. The Sept. 23 estimate for the first stage is 822 petahashes per second. The extra 940 units ordered on Sept. 22 account for the later 862 target. The latest release labels its Oklahoma section "Upgrade Completed," although its text still says the first machines are expected to be installed by Sept. 30.
“That means more Bitcoin and more revenue from electricity we already own, and we are paying for it from our own resources,” PowerCompute chief executive Bruce M. Rodgers said in the Sept. 23 release.
That nearly 39 per cent applies to each 132-terahash machine ultimately replacing a 95-terahash unit, according to PowerCompute. Its fleetwide projection is 11.8 per cent because the swap affects only part of the fleet. The company estimates energy efficiency at 21.5 joules per terahash for the incoming machines, against about 34 for the retired units, with comparable power draw per unit.
The Revenue Case Uses a Sept. 21 Price
The hashprice behind the US$1.2 million capacity estimate can change before the October installation. Kaan Farahani, a research associate at Luxor Technology, reported on Sept. 21 that the six-month forward market priced average hashprice at US$38.96 per petahash per second per day, below PowerCompute's US$40 assumption. Farahani's report did not evaluate PowerCompute; its forward price is a market check on a fixed input in the company's estimate.
A higher machine rating cannot guarantee that revenue: the amount earned depends on network conditions, bitcoin's price and the hours rigs actually run. PowerCompute expects per-unit power cost to hold steady but gives no electricity price or measured output gain from the incoming machines.
Curtailment already affects the operating comparison. In its Sept. 9 update, PowerCompute reported mining 7.9 bitcoin in August 2026, unchanged from July, and attributed the flat result to summer heat-related curtailment at Oklahoma and Mississippi. It recorded about US$132,000 of energy sales during August curtailment, which is a different revenue stream from coins mined.
For scale, Bitdeer Technologies Group NASDAQBTDR, a Singapore bitcoin miner and AI infrastructure operator, reported 79.9 exahashes per second of self-mining rate and 1,310 bitcoin mined in August 2026. PowerCompute's June 30 baseline of 771 petahashes per second equals 0.771 exahashes, so the two issuers operate at very different scales. Bitdeer's release also tied contracted GPU capacity to its A102 facility in Malaysia, while PowerCompute's refresh is a mining equipment plan.
Aug. 31 Treasury Balance Included 307 Pledged Bitcoin
PowerCompute's Sept. 23 release lists 323 bitcoin held on Aug. 31. It values them at about US$27.8 million using a Sept. 21 price near US$86,000. Its Sept. 9 report valued the same Aug. 31 holding at about US$25.2 million. It used a bitcoin price of roughly US$78,000 on Aug. 31. Both releases give the same Aug. 31 balance; only the valuation date and bitcoin price change.
The August report also said 307 of those coins were pledged to an Arch credit facility with about US$21.9 million outstanding on Aug. 31. That left 16 coins unencumbered at that date. The company says it will use cash and bitcoin holdings for the miner purchases but gives no split between them.
Strategy Inc. NASDAQMSTR, a U.S. bitcoin treasury company, said on Sept. 21 that it bought 950 bitcoin from Sept. 14 to 20. Mugglehead's Sept. 22 account of that purchase tracks coin accumulation, while PowerCompute's Sept. 23 release forecasts increased mining output from new equipment.
Read more: Strategy resumes bitcoin buying with 950 BTC after a two week pause
PowerCompute expects the Oklahoma installation by Sept. 30. Delivery and installation of the second batch in October will then test its 862-petahash fleet target and the revenue capacity built on it.
