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Hyperscale shuts Michigan Bitcoin mining to build AI data center
The company switched off miners after an inspection, plans to sell mining equipment, and has a 10-year deal for 20 MW of computing capacity that could generate more than $1.2 billion.
Hyperscale Data has ended all Bitcoin mining operations at its Michigan facility as it shifts the site toward an artificial intelligence data center, Cointelegraph reported.
The company said miners at the facility were switched off following an inspection by a California-based neocloud provider and that it plans to sell the associated mining equipment.
Hyperscale also disclosed that an AI customer contracted for 20 megawatts of computing capacity under a 10-year master services agreement with two optional five-year extensions, with the company projecting potential revenue of more than $1.2 billion over the maximum 20-year term.
Cointelegraph added that Hyperscale cautioned its expansion plans remain preliminary and subject to financing, approvals, and other risks. The report also said Hyperscale’s Bitcoin holdings have fallen about 79% since late July to 215 BTC, as the AI buildout is funded through sales from its Bitcoin treasury.
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