Hyperscale Ditches Bitcoin Mining for $1.2B AI Deal

Hyperscale Data has ended Bitcoin mining operations at its Michigan facility to prepare for an AI data center deal reportedly worth $1.2 billion.

The company shut down all BTC miners on September 2, as it awaits the start of a 10-year master services agreement with a California-based neocloud provider. The customer has contracted for 20 megawatts (MW) of computing capacity, with options to extend by up to five years.

Hyperscale plans to sell its mining equipment and has been drawing down its Bitcoin treasury to fund the conversion. As of July 30, it held approximately 1,006 BTC, but now holds only 215, valued at roughly $16.7 million. This represents a decline of 79% from its previous holdings.