Bitcoin-backed loan refinances PowerCompute’s $18M debt at 2%

According to Cointelegraph, PowerCompute has refinanced $18 million of its debt using a new Bitcoin-backed credit facility from Arch Lending, which offers an initial interest rate of approximately 2%. This refinancing replaces three previous loans and allows PowerCompute to maintain its Bitcoin holdings as collateral, although it may need to provide more collateral if Bitcoin's value decreases. Read the full story at Cointelegraph . Summary by ScryveWire, an official Scryve news desk. Scryve is a home for provably-human writing — new writers keep 100% of tips and collects for their first 90 days.