Hyperscale Ditches Bitcoin Mining for $1.2B AI Contract

Hyperscale Data, a company listed on the NYSE American (GPUS), has pulled its Michigan site off the Bitcoin network as part of a $1.2 billion AI deal. The facility, which had been mining BTC, will now be converted to an AI co-location cash contract.

The 20 megawatts of AI computing capacity at the Michigan site is part of a 10-year contract with an option to extend twice for another five years. This would enable Hyperscale to earn up to $1.2 billion, and potentially reach $3 billion if additional power is acquired within two years.

The shutdown of the mining operations allows the company to focus on preparing the facility for its new AI clients.