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Hyperscale Data shuts Michigan bitcoin mining to expand AI compute

The Michigan deal covers 20 megawatts over 20 years, with an expansion option that could push revenue above $3 billion.

Reported · Written up by our desk · Market Structure

Hyperscale Data wound down bitcoin mining at its Michigan data center as the company redevelops the site for AI computing infrastructure, according to The Block. The outlet says the firm turned off the site’s bitcoin miners as of Sept. 1 under an agreement to prepare the facility for AI deployments.

The Michigan master services agreement is tied to 20 megawatts and could generate about $1.2 billion over a 20-year term, The Block reports. The contract also includes a potential 32 MW expansion clause that, if selected by the customer, could raise expected revenue to more than $3 billion.

Shares of the Nasdaq-listed company, GPUS, traded to an all-time low on Wednesday after the shift from mining to AI infrastructure, with The Block noting the stock fell as low as $0.22 Tuesday and has dropped more than 76% in 2026.

The Block reports Hyperscale Data funded the transition by selling bitcoin treasury holdings, unloading 830 BTC over the past five weeks for about $53 million. It said the company still had 275 BTC worth about $21.2 million remaining, and it continues operating roughly 10 MW of mining capacity at a Montana site, where it is exploring additional power capacity.

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