Bitcoin
Hyperscale Data Ends Michigan Bitcoin Mining and Sells Treasury to Fund AI Shift
Hyperscale Data has shut down its Michigan mining operations and sold 79% of its Bitcoin reserves to fund an AI data center conversion.
Hyperscale Data has ceased all Bitcoin mining operations at its Michigan facility and announced plans to sell the associated hardware following an inspection by an unnamed California-based neocloud provider. The site is being transitioned into an artificial intelligence data center.
The company has contracted 20 megawatts of computing capacity under a 10-year master services agreement that includes two five-year extension options. Hyperscale stated the deal could generate over $1.2 billion across 20 years, with potential revenue exceeding $3 billion if an additional 32 MW option is exercised on the 340 MW capable site. The company noted that these projections remain preliminary and dependent on financing and approvals.
To fund the infrastructure transition, Hyperscale has liquidated much of its cryptocurrency treasury, reducing its holdings by roughly 79% from 1,006 BTC in late July to 215 BTC. Following the announcement and a recent one-for-five reverse stock split, shares of the NYSE American-listed firm fell 17% on Wednesday to close at a record low of $0.1984.
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