Hyperscale Data cuts BTC holdings 79% in AI pivot

Hyperscale Data stopped all Bitcoin mining operations at its Michigan facility on Sept. 1 as it began preparing the site for an artificial intelligence computing customer. Summary Hyperscale Data stopped all Bitcoin mining at its Michigan facility effective September 1, 2026, completely. Company plans to sell mining equipment while preparing the site for AI computing operations now. Bitcoin holdings fell about 79% from 1,006 BTC in July to approximately 215 BTC recently. Customer contracted 20 MW for ten years with two optional five year extensions available later. GPUS shares closed Wednesday at $0.1984, falling 17% after reaching a record intraday low earlier. The company switched off the facility’s mining equipment after an inspection by an unnamed California based neocloud provider, according to a Sept. 2 announcement. Hyperscale intends to sell the servers previously used to mine Bitcoin. The shutdown completes the first operational step in converting the Michigan property from a Bitcoin mine into an AI data center. Hyperscale has also sold most of its Bitcoin treasury to provide capital for the project. Its holdings have fallen approximately 79% from about 1,006 BTC on July 3...