Hyperscale Data Shifts from BTC Mining to AI Infrastructure in Michigan
Hyperscale Data has ceased all Bitcoin mining operations at its Michigan facility to prepare for an artificial intelligence data center customer. The company says it will sell the associated mining equipment after an inspection by a California-based neocloud provider.
The AI customer has contracted for 20 megawatts of computing capacity under a 10-year master services agreement with two optional five-year extensions, potentially generating over $1.2 billion in revenue. If the company exercises both extension options and takes additional capacity, potential revenue could exceed $3 billion.
Hyperscale has been funding its AI buildout through sales from its Bitcoin treasury, which has seen a significant decline in holdings. The company held about 1,006 BTC in July but now holds just 215 BTC, worth around $16.7 million, after selling 65 BTC for $5.1 million.