Hyperscale Data closes Michigan mining farm and switches to AI business, selling 830 BTC

According to The Block, Nasdaq listed company Hyperscale Data has shut down all Bitcoin mining machines at its data center in Michigan, USA, and is using the site for AI computing infrastructure. The company has signed a 20MW main service agreement with a California cloud service provider, which is expected to generate approximately $1.2 billion in revenue over 20 years. The agreement includes a 32MW expansion option, and if exercised, the total revenue may exceed $3 billion. Hyperscale Data sold 830 BTC for transformation, cashing out approximately $53 million, and currently holds 275 BTC worth approximately $21.2 million. The company still operates approximately 10MW of Bitcoin mining capacity in Montana, USA, and is exploring an additional 125MW expansion.