Crypto
Hyperscale Data Ditches Bitcoin Mining for Lucrative AI Deal
Hyperscale Data, an NYSE American-listed company trading under the ticker GPUS, has made a significant shift in its operations. The firm has ceased bitcoin mining activities at its Michigan data center on September 1.
The reason for this move is a lucrative deal with AI colocation opportunities that promises higher margins and revenue growth. Hyperscale signed a Master Services Agreement with Alliance Cloud Services, its subsidiary, to convert the Dowagiac, Michigan facility into an AI data center.
The initial contract value exceeds $1.2 billion across a ten-year term, with two potential five-year extensions that could push the total value beyond $3 billion.