PowerCompute (PWCM) H.C. Wainwright 26th Annual Global Investment Conference 2024 summary

Business overview and strategy

• Focuses on Bitcoin mining and specialty finance for condominium associations, leveraging changes in Florida law to expand legacy business.

• Market cap is under $10 million, closely matching cash and Bitcoin holdings valued at $10.2 million as of June 30, 2024.

• Operates approximately 5,900 miners with 639 petahash capacity, achieving over 95% uptime in Q1 2024.

• Plans to HODL Bitcoin holdings, with a strategy to grow through mining and infrastructure expansion.

• Operates with a lean team of eight employees, emphasizing operational efficiency.

Financial performance and capital structure

• Generated $1.5 million net income in Q1 2024 and $1.9 million net income in Q1 2024.

• Shareholder equity stands at $32.5 million, or $13 per share, with share price ranging from $1.62 to $5 in the past year.

• Cash and Bitcoin holdings at $10.2 million as of June 30, 2024; market cap remains below asset value.

• Secured a $5 million non-convertible loan in August 2024 to fund miner and infrastructure acquisitions.

Expansion plans and infrastructure

• Letter of intent to acquire a Texas mining site with 12 megawatts initial and up to 72 megawatts expansion potential.

• Targeting 1,000 Bitcoin annual production at full 72 megawatt capacity, leveraging immersion mining techniques.

• Made a $2.8 million secured loan to Arthur Mining for a 15-megawatt site, hosting 3,000 miners at pass-through rates.

• Plans to redeploy 2,000 idle miners as new hosting capacity comes online.