What happened
PowerCompute, Inc. (NASDAQ: PWCM) said its Columbus, Mississippi site now has 11 megawatts of contracted power, up from 8.5 megawatts. Its subsidiary, US Digital Mining Mississippi LLC, signed a new power contract with Columbus Light and Water on September 30, 2026. The contract took effect on October 1, 2026, and service kept running without interruption.
PowerCompute said none of the 11 megawatts was assessed a capacity commitment charge. Columbus Light and Water is returning a $300,000 deposit, and PowerCompute said it will replace that cash with a utility bond. The filing says the Columbus site had about 2,373 installed Antminer machines with total hashrate of about 205 PH/s as of September 30, 2026. PowerCompute said the change did not affect on-peak demand or how the site is run.
Key numbers
| Metric | Latest | Change | Source |
|---|---|---|---|
| Contracted power at Columbus | 11 megawatts | from 8.5 megawatts, +2.5 megawatts | Press release |
| Deposit returned by Columbus Light and Water | $300,000 | Press release | |
| PowerCompute's share of capital costs for CLW's facilities | $0 | Form 8-K | |
| Total operating capacity | 26 megawatts | Press release |
Why it matters
OptimistFi's case is that PWCM is still a high-risk bet on a Bitcoin mining and treasury pivot. The Columbus deal supports that view at the site level. The contract adds 2.5 megawatts, or 29.4%, versus the prior 8.5-megawatt arrangement. PowerCompute also said the utility did not require a capital contribution for the increase, which leaves more cash at the site.
The company says it now operates 26 megawatts across Calumet, Oklahoma and Columbus, Mississippi. About 22.5 megawatts primarily supports Bitcoin mining, with part set aside for an enterprise HPC pilot program, while the Oklahoma site is outside TVA territory. The main caution is in the same filing. Future TVA or Columbus Light and Water rate schedule or classification changes could change how the charge is treated.
Service under the new rate also depends on the listed classifications or TVA's judgment for computational equipment.
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What's next
The new power contract runs through September 16, 2030, with a five-year renewal if both parties agree. PowerCompute also said it plans to use the returned $300,000 for capacity buildout at Columbus. If the site keeps its current tariff classification and the no-charge treatment holds, the contract remains supportive of the mining operation.
If a future rate schedule or classification change brings back the capacity commitment charge, the benefit would shrink. Investors will watch whether Columbus keeps its current status through the contract end date.
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Sources
- SEC 8-K — Current report on Form 8-K, including Item 1.02 and Item 7.01
- Press release — Exhibit 99.1 press release announcing the Columbus power contract
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Originally published on OptimistFi, evidence-first equity research. More at optimistfi.com.
