Hyperscale Data Stock Hits Record Low Despite $1.2 Billion AI Pivot in Michigan

Hyperscale Data shares fell to an all-time low on Wednesday even as the company completed its shift away from bitcoin mining at its Michigan facility to focus on artificial intelligence infrastructure. The company confirmed all bitcoin mining equipment at the site was powered down as of September 1, clearing the way for AI computing operations.

Stock Slides Despite Major Deal

Shares of Hyperscale Data, trading under the ticker GPUS, dropped as low as $0.22, extending the stock’s decline to more than 76% for the year.

Michigan Site to Host AI Infrastructure Under Long-Term Deal

The Michigan facility is being converted under a master services agreement with an unnamed California based cloud computing provider. The deal covers 20 megawatts of capacity and could generate approximately $1.2 billion over 20 years. An additional 32-megawatt expansion clause could push total revenue above $3 billion if exercised. Even with that expansion, the agreement would use only about 20% of the site’s targeted 340-megawatt capacity, leaving room for future customers.

Bitcoin Holdings Sold to Fund Transition

To help finance the buildout, Hyperscale Data has been selling off its bitcoin reserves, offloading 830 BTC over the past five weeks for roughly $53 million. The company now holds 275 BTC, worth about $21.2 million, according to Bitcoin Treasuries data.

Mining Continues in Montana

Despite exiting bitcoin mining in Michigan, Hyperscale Data has not left the business entirely. The company still operates around 10 megawatts of mining capacity in Montana and is exploring a 125-megawatt expansion at that site.