Hyperscale Data Abandons Michigan BTC Mining for AI Data Center

Hyperscale Data has halted all Bitcoin mining operations at its Michigan facility. The move is part of a larger effort to transition the site into an artificial intelligence data center, with Hyperscale securing a customer for 20 megawatts (MW) of computing capacity under a 10-year master services agreement.

The agreement includes optional five-year extensions and could potentially generate over $1.2 billion in revenue over its maximum 20-year term. However, the estimated revenue would increase to above $3 billion if the customer takes advantage of an additional 32 MW option.

Hyperscale's stock price has declined sharply, closing at a record low of $0.1984 on Wednesday after touching an intraday low of $0.1932. The company's Bitcoin holdings have also been significantly reduced, with Hyperscale now holding approximately 215 BTC worth around $16.7 million, representing an 79% decline from its July holdings.