Monitor Cuentas' ability to fund the initial $590,000 in one-time fees and security deposit for the first container set, and watch for deployment milestones every 90 days. The Bitcoin price suspension right at $55,000 provides downside protection but the take-or-pay obligation creates fixed cost exposure regardless of mining profitability.
Price Chart
Executive Summary
Cuentas Inc. entered into a Power-as-a-Service and Colocation Services Agreement with Power Upp USA, Inc. for up to 24.0 MW of power and colocation at a West Texas site, with staged deployment of up to 10 container sets housing ~4,200 ASIC miners for Bitcoin mining. The 36-month agreement creates material take-or-pay obligations and requires up to $5.9M in one-time fees and security deposits if fully deployed, but represents a strategic pivot into crypto mining infrastructure for a company previously classified in wholesale groceries.
Key Facts
- Agreement with Power Upp USA, Inc. for power-as-a-service and colocation at 441 County Road 332, Seminole, TX
- Up to 10 container sets, each with 2.4 MW contracted demand, totaling 24.0 MW if fully deployed
- One-time charge of $500,000 per container set for 432 ASIC miners; $5.0M aggregate if all 10 sets deployed
- Security deposit of $90,000 per container set ($900,000 aggregate if fully deployed)
- Recurring charges: 5% of Gross Mining Revenues + $2,500/month per container set for colocation/admin; $0.05/kWh energy charge
- Minimum utilization of 80% of contracted demand with take-or-pay obligation; shortfall months require payment as if 80% utilized
- Initial term of 36 months, auto-renewing for 12-month periods
- Bitcoin price suspension right: if BTC below $55,000 for 15 consecutive days, customer may suspend operations for up to 1 month at $7,500/month suspension fee
- If BTC remains below $55,000 after suspension period, either party may terminate without early termination fee
- Staged deployment: one container set every 90 days, with first set at Service Commencement Date
Financial Impact
Up to $5.0M in one-time ASIC miner procurement fees plus $900,000 in security deposits if all 10 container sets deployed; ongoing monthly charges of 5% of Gross Mining Revenues + $2,500/set + $0.05/kWh energy charge with take-or-pay minimums
Risk Factors
- Take-or-pay obligation applies regardless of Bitcoin price, mining difficulty, or equipment performance — only excused by force majeure, PWRU-caused outages >8 hours, or scheduled maintenance
- Cuentas bears all risk of loss for its ASIC miners and digital assets; PWRU has no liability except for gross negligence
- Revenue control arrangements require Cuentas to give PWRU direct access to mining pool proceeds and wallet sweep mechanisms
- Full deployment of 10 container sets requires $5.9M in upfront cash outlays before any mining revenue is generated
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-102445 |
| Document: ea0306366-8k_cuentas.htm | 0001213900-26-102445 |
| Document: 0001213900-26-102445-index-headers.html | 0001213900-26-102445 |
| Document: 0001213900-26-102445-index.html | 0001213900-26-102445 |
| Document: 0001213900-26-102445.txt | 0001213900-26-102445 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 30, 2026 26d ago | 8-K | $0.6000 $0.6340 | ▼ −5.67% | ▼ −4.37% | $0.6541 (−9.02%) |
Sep 23, 2026 4w ago | 8-K | $0.6278 $0.6389 | ▲ +1.77% | ▲ +2.44% | $0.6541 (+4.19%) |
Jul 1, 2026 16w ago | Insider Cluster | $0.3595 $0.4500 | ▲ +25.17% | ▲ +25.22% | $0.6541 (+81.95%) |
Jun 30, 2026 16w ago | 8-K | $0.3595 $0.4500 | ▲ +25.17% | ▲ +25.22% | $0.6541 (+81.95%) |
Jun 12, 2026 19w ago | 8-K | $0.2899 $0.3589 | ▲ +23.80% | ▲ +23.19% | $0.6541 (+125.63%) |
Mar 5, 2026 33w ago | 8-K | $0.1802 $0.2377 | ▼ −31.88% | ▼ −34.12% | $0.6541 (−262.99%) |
US Market Status
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