Hyperscale Data has completed the shutdown of all Bitcoin mining operations at its Michigan facility as of September 1, 2026. According to a September 2 announcement, the company switched off the facility's mining equipment after an inspection by an unnamed California-based neocloud provider. The company plans to sell the servers previously used for Bitcoin mining and expects to record additional gains from selling the mining equipment removed from the Michigan operation.
Hyperscale Data has significantly reduced its Bitcoin holdings, with Bitcoin treasury falling approximately 79% from 1,006 BTC in July to 215 BTC at the end of August. The company reported selling approximately 65 BTC for $5.1 million during the week ending August 30, with the remaining Bitcoin worth approximately $16.7 million when the company published its latest treasury update. The company has not disclosed the price and proceeds for every sale during this period, but BitcoinTreasuries.NET ranks Hyperscale 84th among public businesses tracked by its database.
Hyperscale Data secured a significant AI computing contract with a customer contracting 20 MW of critical AI computing capacity under a master services agreement. The initial term runs for 10 years with two optional five-year extensions available later. The company estimates the contract could produce more than $1.2 billion in revenue over 20 years, though this figure assumes the customer exercises both extension options. The customer also has an option to take another 32 MW of computing capacity, with total revenue potentially exceeding $3 billion if the customer exercises that option within two years.
Hyperscale Data shares closed at $0.1984 on September 2, falling approximately 17% during the session. The stock traded as low as $0.1932 and reached an intraday high of $0.3012. The closing price represented a split-adjusted record low, with trading volume exceeding 117 million shares. GPUS began trading on a split-adjusted basis on August 25 after Hyperscale completed a one-for-five reverse stock split, with CEO William Horne expressing belief that shareholders would benefit as the Michigan conversion advances.
The Michigan facility could eventually support approximately 340 MW of power, with a full 52 MW deployment under the current agreement consuming about 20% of that expected capacity. Hyperscale has not disclosed the contracted revenue expected from the initial 10-year term alone, and the company cautioned that the additional capacity depends on financing, engineering work, power availability, approvals and commercial demand. The company's longer-term corporate plan calls for separating Ault Capital Group through a divestiture expected in 2027, after which Hyperscale would focus on data center operations and digital asset holdings.
