Hyperscale Data Stock Drops 17% on AI Deal and Bitcoin Sales

Hyperscale Data (GPUS) stock plummeted 17% on Wednesday after the company shut down its Bitcoin mining operations at a Michigan facility to make way for an AI data center customer.

The California-based neocloud provider has contracted 20 MW of computing capacity under a 10-year deal worth over $1.2 billion, with options potentially pushing that above $3 billion.

Hyperscale Data has been leaning heavily on its Bitcoin treasury to fund the Michigan buildout, selling 830 BTC over the past five weeks for roughly $53 million.

The company's Bitcoin holdings have dropped 79% since late July, now sitting at around 215 BTC worth approximately $16.7 million.