Hyperscale Data Shifts Michigan Site to AI as Bitcoin Holdings Grow

Hyperscale Data currently holds 219.0652 Bitcoin (BTC) valued at approximately $18.5 million as of September 27. The company also reported around $37.5 million in cash and restricted cash, bringing the total holdings to about $56 million. This amount represents roughly 153% of the company’s market capitalization, calculated using its September 28 closing share price.

The company is shifting its Michigan facility from Bitcoin mining to AI data-center operations. Effective September 1, the site stopped mining Bitcoin as it prepared for the new infrastructure under a customer agreement. This agreement includes an initial 20 megawatts and a 10-year term, with options for two five-year extensions. Hyperscale Data projects over $1.2 billion in revenue, contingent on the exercise of these extension options.

Additionally, Hyperscale Data proposed the formation of Patriot BTC to manage its mining operations and related assets, including a Montana data center. However, this proposed separation had not been completed or approved as of the announcement on September 22.