PowerCompute Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 9.8% year-over-year to $2.1 million, with a net loss of $4.6 million as the company transitions from Bitcoin mining to AI and HPC infrastructure. Debt refinancing reduced interest costs, and the company is piloting AI compute offerings while leveraging owned power assets.
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Record hash rate and Bitcoin production achieved in Q1 2026, but revenue declined 11% year-over-year due to lower Bitcoin prices. Net loss was $10.1 million, largely from non-cash fair value adjustments, while Bitcoin treasury value rebounded post-quarter.
Fiscal Year 2025
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2025 saw a transformation to a multi-site, vertically integrated miner with doubled Bitcoin holdings and a simplified capital structure. Despite higher production and expanded capacity, Q4 losses were driven by Bitcoin price declines and non-cash charges. Equity trades below NAV, with 2026 focused on scaling and efficiency.
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Q3 saw a 74% year-over-year revenue increase, improved mining margins, and a 50% hash rate expansion. Strategic share repurchases and new site integration boosted Bitcoin per share, while cost per mined Bitcoin fell to $66,000.
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Q2 2025 saw revenue of $1.9M and a return to profitability, driven by improved mining margins and strategic energy sales. Expansion in Oklahoma and a new Mississippi acquisition will boost capacity to 26 MW, supporting further growth and Bitcoin treasury accumulation.
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Q1 2025 saw increased Bitcoin production, improved mining margins, and new revenue from power sales. Immersion mining expansion in Oklahoma is underway, with a focus on cost control and long-term Bitcoin accumulation. Bitcoin holdings now exceed market cap by over 50%.
Fiscal Year 2024
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Achieved profitability in 2024 with $11M revenue and $3.9M Core EBITDA, growing Bitcoin holdings to $14M. Vertical integration, cost control, and strategic expansion position the company for continued growth, with a market cap notably below Bitcoin asset value.
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Q3 2024 saw a strategic shift to vertical integration in Bitcoin mining, with revenue down year-over-year due to the halving and miner repositioning. Expansion in Oklahoma and potential Texas growth are key, while the company remains bullish on Bitcoin's future.
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A Bitcoin miner and specialty finance firm is expanding mining capacity with a Texas site acquisition and strategic loans, aiming for 1,000 Bitcoin annual output. Strong cash and Bitcoin reserves, new Florida laws, and a lean team support growth in both mining and condo finance.
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Q2 2024 saw 44.1 bitcoins mined and $3M in revenue, with a net loss of $6.1M due to higher expenses and unrealized losses. Expansion plans include a Texas site targeting 72 MW and a cost-effective Oklahoma partnership, supported by a $5M loan.