Hyperscale Data ends Michigan bitcoin mining as shares hit all-time low

Hyperscale Data turned off all bitcoin miners at its Michigan data center as of Sept. 1. The company is redeveloping the site for AI computing infrastructure under a master services agreement with an unnamed California-based neocloud provider. The agreement covers 20 MW. Hyperscale Data estimates the agreement could generate roughly $1.2 billion over its 20-year term. The agreement includes a potential 32 MW expansion clause if the customer chooses to contract for it. Hyperscale Data estimates that expansion could raise revenue above $3 billion. The company is targeting roughly 340 MW of power capacity at the Michigan site. The agreement would use about 20% of that capacity. Hyperscale Data’s shares reached an all-time low on Wednesday. The stock traded as low as $0.22 on Tuesday morning. The stock decline exceeded 76% in 2026. Hyperscale Data sold 830 BTC over five weeks for roughly $53 million. The company used the proceeds to finance development and equipment for the Michigan site. Bitcoin Treasuries said the firm still held 275 BTC worth $21.2 million. Hyperscale Data continues to operate around 10 MW of bitcoin mining capacity at a primary site in Montana. The company is exploring an additional 125 MW of power capacity in Montana.