Crypto
Hyperscale Data Sells 100 Bitcoin to Fuel Michigan AI Campus Expansion
Hyperscale Data's stock price surged 5.5% after the company sold approximately 100 Bitcoin to fund its Michigan AI campus expansion.
The move allows Hyperscale Data to access lower-cost funding while maintaining its exposure to Bitcoin, according to Chief Executive Officer William Horne.
Hyperscale Data has built a $71 million Bitcoin treasury through mining operations and treasury management.
The company plans to use the proceeds from the sale to fund construction, purchase critical infrastructure, and acquire long-lead equipment for the Michigan AI campus.