Hyperscale Data's Shares Plummet Amid Shift to AI Infrastructure

Hyperscale Data's shares hit an all-time low on Tuesday as the company wound down its bitcoin mining operations at a Michigan site to focus on AI infrastructure.

The Nasdaq-listed company shut off its bitcoin miners at the site on September 1, following an agreement with a California-based cloud provider to redeploy the site for AI computing infrastructure.

The deal covers 20 megawatts and could generate approximately $1.2 billion over its 20-year term, according to Hyperscale Data's estimates. The contract also includes a potential expansion clause that could bump revenue above $3 billion if the customer chooses to expand.