Hyperscale Ditches Bitcoin Mining for $1.2 Billion AI Deal

Hyperscale Data has shut down its Bitcoin mining operations at a facility in Michigan and is converting it to an AI co-location contract worth over $1.2 billion.

The company signed a deal with an unnamed neocloud provider based in California, which includes 20 megawatts of AI computing, with an initial duration of ten years and options to extend for another five years.

Hyperscale believes it can eventually produce an estimated 340 MW of power at the Michigan facility and plans to profit from the sales of mining servers.