Tech company Hyperscale Data permanently powered down all of its Bitcoin mining rigs at its Michigan data center effective September 1. Management confirmed the move follows a comprehensive reconfiguration of the site to host artificial intelligence computing infrastructure, under a commercial agreement with a California-based neocloud provider.
The initial master agreement covers 20 megawatts and is projected to generate $1.2 billion over the next two decades, with expansion options that could push revenue past $3 billion. To finance equipment purchases and site upgrades, the firm liquidated 830 BTC from its treasury over five weeks, raising roughly $53 million. Despite the aggressive pivot to AI, the company’s shares (GPUS) plunged to an all-time low of $0.22 on Wall Street.
This shift does not mark a full exit from the crypto sector: the company still holds 275 BTC on its balance sheet and retains 10 MW of operational capacity in Montana. The next stage will involve integrating high-density hardware in Michigan, utilizing just 20% of its planned 340 MW total capacity.
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