That's the thing.. When valued against fiat.  If borrowed in BTC, then 1 BTC is always going to be 1 BTC. True, it's economically beneficial for Nasty to borrow in Fiat and owe in Fiat and pay back in fiat, but that takes away any kind of incentive for the loaners.

Bottom line, I'm looking forward to seeing the debt repaid (partially because I've got a little out there  ) but also because potential investors may shy away from us having debt vs. being drawn to us when seeing that we're poised to act fast when a new generation of mining hardware comes available.  And yes, we've been able to move fairly quick in the past when placing orders with loans, but if we have funds ready to go, then we can move that much quicker and that could mean being included in a bullet run or not.

Bottom line, I don't think debt is ever good, it may be necessary and the debt ratio we have isn't that terrible. 

This is how I see it:

No Debt = less risk = more appealing opportunity for potential investors

Paid off previous debt = better credibility = greater chance for future loans if needed = more appealing opportunity for potential investors

Savings dedicated for growth = more appealing opportunity for potential investors

All of the above should affect seat value in a positive way (although, not entirely true if someone just needs to liquidate quickly.)  So let me say it this way instead, all of that should positively impact fair value.