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Hyperscale Data has sold the last of its bitcoin, unloading about 211.56 BTC for roughly $16 million by Nov. 8 at about $76,000 per coin, Bitcoin Magazine reported. The NYSE American-listed company, which trades as GPUS, said the proceeds will pay down debt and fund an AI data center in Michigan.
According to Bitcoin Magazine, sales since the company first trimmed its reserve in late July total approximately 1,113 bitcoin for about $74.4 million, an average of roughly $66,800 per coin. At a price near $74,200 on Tuesday, that same 1,113 BTC would have been worth about $82.6 million.
Also read: Keel Infrastructure Sells All 2,520 BTC for $192M in AI Shift
Key facts
- Hyperscale sold 211.56 BTC for about $16 million, completed by Nov. 8 at roughly $76,000 per coin.
- Total sales since late July reached about 1,113 bitcoin for roughly $74.4 million.
- The company aims to energize the first 10 megawatts of critical IT capacity at its Michigan site in December.
- Hyperscale shut down all bitcoin mining at the Michigan site on Sept. 1, 2026, according to Crypto Briefing.
- It still mines bitcoin in Montana and expects future holdings to come primarily from its own mining operations.
A treasury built and then unwound
The exit reverses a plan laid out only months earlier. In late July, Hyperscale reported holding more than 1,106 bitcoin and said it wanted to build a $100 million digital asset treasury and reach full parity between its bitcoin holdings and its market capitalization. Executive Chairman Milton “Todd” Ault III said at the time that every coin acquired strengthened the balance sheet and that the company intended to keep building its position.
A week later it disclosed a first sale of about 150.5 BTC, leaving roughly 958.5 BTC as of Aug. 2, even as its Ault Capital Group subsidiary bought about 15 BTC on the open market. Holdings were split between that unit and Sentinum.
Crypto Briefing reported additional sales during the year: approximately 100 BTC in July 2026, then about 685 BTC for roughly $43 million in August, followed by smaller sales later that month. Crypto Briefing also reported that as of Nov. 1 the company held 211.4639 BTC, valued at about $16.5 million, alongside $34.1 million in cash and restricted cash — about $50.6 million in total liquid assets.
CEO Will Horne framed the decision as a route to profit. He said bringing the Michigan capacity online is the company’s quickest path and that selling the reserve reduces exposure to bitcoin price swings while providing cash for debt repayment and the buildout.
From bitcoin mining to AI capacity
Michigan is the center of the pivot. Crypto Briefing reported that Hyperscale signed a 10-year master services agreement with a California-based AI provider covering an initial 20 megawatts, a deal that could generate more than $1.2 billion over its term, with options that could push the total above $3 billion if the customer expands. The site has potential to support roughly 340 MW of AI capacity in total, per Crypto Briefing.
Hyperscale’s structure is more complicated than a pure miner’s. Sentinum runs the data center business, while Ault Capital Group — a hybrid private equity firm and operating company — holds lending, defense, industrial and hotel businesses. Hyperscale expects to divest Ault Capital Group in 2027 and become a data center owner and operator.
Why it matters
Hyperscale joins a widening group of listed companies trading bitcoin treasuries for data center spending. Bitcoin Magazine noted that Keel sold its entire treasury for $192 million in the third quarter, that Riot and Hut 8 sold thousands of bitcoin to fund AI buildouts and buybacks, and that MARA said Monday it sold 13,597 BTC for about $1.1 billion after Sept. 30. For shareholders, the shift swaps a volatile asset for debt reduction and contracted revenue that depends on the facility delivering capacity.
What to watch
Hyperscale said it expects to file its third-quarter 10-Q on or before Nov. 23 and has moved its virtual Investor Day from Nov. 12 to Nov. 23 because of a newly proposed exchange offer for its Class A common stock; management plans to update investors on debt reduction and the December energization target. The company did not say how much debt the bitcoin proceeds have retired so far or how much remains outstanding. Crypto Briefing noted the company says it plans to rebuild its bitcoin holdings over time.
Reported by Bitcoin Magazine.