Data Center · Bitcoin · Cointelegraph
Hyperscale Data ends Michigan BTC mining as holdings fall 79%
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Hyperscale Data’s Bitcoin holdings have fallen about 79% since late July to 215 BTC as it redirects capital toward its Michigan AI data center.
Key facts
- According to Yahoo Finance data, Hyperscale Data shares closed at $0.1984 on Wednesday, down about 17%, after touching an intraday low of $0.1932
- On Tuesday, the company said that it sold about 65 BTC for $5.1 million during the week ending Aug. 30
- An additional 32 MW option could lift potential revenue above $3 billion, while the site is expected to support 340 MW
- NET now lists Hyperscale as holding 215 BTC, worth about $16.7 million
Summary
Hyperscale Data has ended all Bitcoin mining operations at its Michigan facility as it prepares the site for an artificial intelligence data center customer. On Wednesday, the company said that all Bitcoin miners at the facility were switched off following an inspection by the unnamed California-based neocloud provider. Hyperscale said the customer has contracted for 20 megawatts (MW) of AI computing capacity under a 10-year master services agreement with two optional five-year extensions. The shutdown marks a further step in Hyperscale’s conversion of its Michigan facility from Bitcoin mining to AI infrastructure, a project it is also funding through sales from its Bitcoin treasury.