Hyperscale Data ends Michigan BTC mining as holdings fall 79%

The useful part

Hyperscale Data's Bitcoin holdings have fallen about 79% since late July to 215 BTC as it redirects capital toward its Michigan AI data center. Hyperscale Data has ended all Bitcoin mining operations at its Michigan facility as it prepares the site for an artificial intelligence data center customer. On Wednesday, the company said that all Bitcoin miners at the facility were switched off following an inspection by the unidentified California-based neocloud provider.

How it works

• Hyperscale said the AI customer has contracted for 20 megawatts (MW) of computing capacity under a 10-year master services agreement with two optional five-year extensions.
• The agreement may generate more than $1.2 billion over the maximum 20-year term.
• An additional 32 MW option could lift potential revenue above $3 billion, while the site is expected to support 340 MW.

Details worth keeping

Hyperscale said it intends to sell the associated mining equipment.