Hyperscale Data shuts Michigan mining, BTC stash down 79%

TREE NEWS update: Hyperscale Data has closed its Michigan bitcoin mining operations to convert the site into an AI data center, with all miners powered down and equipment slated for sale. The company said a client has signed a 20 MW AI compute contract for 10 years (with two 5-year renewal options), expected to generate over $1.2 billion in revenue over 20 years, and an additional 32 MW option could push potential revenue above $3 billion. To fund the transition, Hyperscale sold bitcoin, cutting its holdings from about 1,006 BTC at end-July to 215 BTC (down ~79%), ranking 84th among public companies. Shares fell about 17% Wednesday to $0.1984, a post-split record low.