Hyperscale Data ends Michigan BTC mining as holdings fall 79%
Hyperscale Data has shut down all Bitcoin mining at its Michigan facility to convert the site into AI data center infrastructure. After an inspection by a California-based neocloud customer, the company turned off all miners and plans to sell the mining equipment. The customer has contracted for 20 MW of AI computing capacity under a 10-year master services agreement with two optional five-year extensions. Hyperscale says the deal could generate more than $1.2 billion over the full 20-year term, and an additional 32 MW option could push potential revenue above $3 billion. The site is expected to support 340 MW total. The company said the project is still preliminary and depends on financing, approvals, and other risks. It is also helping fund the conversion by selling Bitcoin holdings. Hyperscale’s stock fell to a split-adjusted record low after a recent reverse split. Its Bitcoin treasury has dropped sharply, with holdings cut to 215 BTC after recent sales.
