Hyperscale Data Accelerates Michigan Campus Development with Bitcoin Funds
Hyperscale Data Inc., listed on the AMEX as GPUS, saw its shares rise in early Thursday trading after the company revealed plans to utilize part of its Bitcoin treasury to accelerate development at its Michigan AI campus.
The company will sell around 100 BTC and use the proceeds for construction, infrastructure, and long-lead equipment. This decision comes with the establishment of a Bitcoin-backed credit facility with variable interest rates ranging from about 4.5% to 5%. This strategy could potentially reduce reliance on equity financing, limit stockholder dilution, and preserve a substantial portion of its Bitcoin holdings.
Hyperscale Data recently reported holding around $71 million in Bitcoin. CEO William Horne stated, 'This decision does not constitute a change in our long-term conviction regarding Bitcoin. Instead, we believe it demonstrates the strategic value of maintaining a substantial Bitcoin treasury.'