Hyperscale Data Ditches Bitcoin Mining for $1.2B AI Contract

Hyperscale Data has suspended its bitcoin mining operations at its Michigan data center to prepare for a major AI infrastructure contract.

The deal, worth over $1.2 billion, involves deploying 20 megawatts of AI compute capacity and runs for an initial 10-year term with two five-year extension options.

The company's CEO, William Horne, stated that shutting down the mining operations allows the team to focus on preparing the facility for its new usage by the customer.

Hyperscale Data expects to recognize additional gains from selling the bitcoin mining servers that have been turned off, which currently hold approximately 215 bitcoins worth around $16.7 million.