Hyperscale Data shuts down Michigan mine to pivot to AI business

PANews reported on September 2, according to The Block, that Hyperscale Data has shut down all Bitcoin miners at its data center in Michigan, United States, preparing to use the site for AI computing infrastructure. The company signed a 20 MW master service agreement with an unnamed "California cloud service provider," which is expected to generate approximately $1.2 billion in revenue over 20 years. The agreement also includes a 32 MW expansion option, and if exercised, total revenue could exceed $3 billion. Hyperscale Data recently sold 830 BTC for the transition, cashing out approximately $53 million, and currently still holds 275 BTC, worth about $21.2 million. The company still operates about 10 MW of Bitcoin mining capacity in Montana, United States, and is exploring an additional 125 MW expansion.