Bitcoin miner Hyperscale Data has sold about 100 Bitcoin and secured a Bitcoin-backed credit facility to help finance construction of its Michigan AI data center, according to a Thursday announcement.
The company said proceeds from the Bitcoin (BTC) sale are being used to fund construction and purchase critical infrastructure and long-lead equipment for its Michigan campus. The Bitcoin-backed credit facility is expected to provide financing at variable interest rates of about 4.5% to 5.0%.
The campus is being developed to support a previously announced master services agreement with an unnamed AI infrastructure provider, initially covering about 20 megawatts of AI compute capacity. The 10-year agreement includes two optional five-year extensions and is expected to generate more than $1.2 billion in revenue if fully exercised.
The AI provider also has the option to expand capacity by an additional 32 MW within the first two years of the agreement. If exercised and maintained through the extension periods, the contract’s total value would exceed $3 billion, according to the company.
Formerly known as Ault Alliance, the company rebranded as Hyperscale Data in 2024 as it shifted its focus to AI infrastructure while retaining its Bitcoin mining business. Its NYSE American-traded shares (GPUS) were up more than 5% in late morning trading on Thursday, according to Yahoo Finance data.
Data from BitcoinTreasuries.NET shows the company still holds about 1,006 BTC, making it the 44th-largest public corporate Bitcoin holder.
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