Hyperscale Data Abandons Michigan Bitcoin Mining Site for AI

Hyperscale Data Inc., listed on Nasdaq as GPUS, hit an all-time low in stock value after the company shut down its bitcoin mining operations at a Michigan data center. This move was made to clear space for Hyperscale's growing AI infrastructure business.

The shutdown affects the 20-megawatt site, which has been redeveloped under a master services agreement with an unnamed California-based neocloud provider. The deal could generate around $1.2 billion over its 20-year term and includes a potential expansion clause for up to 32 megawatts of power.

Hyperscale Data is financing the transition by selling off parts of its bitcoin treasury, which currently holds approximately $21.2 million worth of BTC after unloading 830 coins in recent weeks.