Nasdaq-listed Hyperscale Data has fully powered down its Bitcoin mining operations at its Michigan data center, effective Sept. 1, as it shifts the site toward artificial intelligence computing infrastructure. The move was announced in a company release on Wednesday and follows a restructuring agreement with an unnamed California-based neocloud provider.
The initial master services agreement covers 20 megawatts and is projected to generate roughly $1.2 billion over its 20-year term. A potential expansion clause of 32 MW could push total contract revenue above $3 billion. Even with expansion, Hyperscale estimates the arrangement would use only about 20% of the roughly 340 MW of power capacity targeted for the Michigan site.
To fund equipment and site development, Hyperscale Data sold 830 BTC over five weeks for approximately $53 million. It still holds 275 BTC worth about $21.2 million, according to Bitcoin Treasuries data. The company’s stock traded as low as $0.22 on Tuesday, marking an all-time low and a decline of more than 76% in 2026.
The shutdown is not a full exit from Bitcoin mining. Hyperscale Data continues to operate around 10 MW of mining capacity in Montana and has said it is exploring a potential 125 MW expansion there, leaving the company with a continued, though reduced, footprint in the sector.
