Key facts
- Hyperscale Data sold approximately 100 Bitcoin to fund its Michigan AI data center.
- The company secured a Bitcoin-backed credit facility with variable interest rates of 4.5% to 5.0%.
- The Michigan campus is being developed to support a potential $1.2 billion to over $3 billion AI infrastructure contract.
- Hyperscale Data still holds approximately 1,006 BTC.
Bitcoin miner Hyperscale Data has sold approximately 100 Bitcoin and secured a Bitcoin-backed credit facility to finance the construction of its AI data center in Michigan. The sale proceeds will be used for construction and critical infrastructure purchases for the campus.
The Bitcoin-backed credit facility is expected to provide financing at variable interest rates ranging from 4.5% to 5.0%. This development supports a previously announced master services agreement with an unnamed AI infrastructure provider, initially covering about 20 megawatts of AI compute capacity.
The 10-year agreement includes options for two five-year extensions and is projected to generate over $1.2 billion in revenue if fully exercised. The AI provider also holds an option to expand capacity by an additional 32 MW within the first two years. If this expansion is exercised and maintained through the extension periods, the contract's total value could exceed $3 billion.
Formerly known as Ault Alliance, the company rebranded as Hyperscale Data in 2024, shifting its focus to AI infrastructure while maintaining its Bitcoin mining operations. The company's shares (GPUS) on NYSE American were up more than 5% in late morning trading on Thursday. Hyperscale Data currently holds approximately 1,006 BTC, ranking it as the 44th-largest public corporate Bitcoin holder.