Hyperscale Data monetizes bitcoin to fund AI data center
Hyperscale Data has begun using part of its bitcoin treasury to fund construction at its Michigan AI data center campus. The company has monetized about 100 bitcoin and directed the proceeds toward construction and equipment.
The company expects the contract to generate more than $1.2 billion if it reaches the maximum term. If the customer exercises an option for another 32 megawatts, total expected revenue would rise above $3 billion.
Hyperscale Data has paired the bitcoin sale with a new credit facility that allows the company to borrow against its remaining holdings at variable rates expected to range from 4.5% to 5%.