Hyperscale Data sold $43 million in BTC to fund expansion
Hyperscale Data has sold approximately 685 Bitcoin for about $43 million to help finance the expansion of its Michigan data center.
The company plans to use the proceeds primarily to continue developing and expanding the Michigan facility.
The sale also gives the company more flexibility to manage its debt, equity, and broader capital structure, reducing its debt by approximately $30 million.
Hyperscale still holds 275 Bitcoin and plans to continue mining Bitcoin, potentially rebuilding its holdings over time, subject to market conditions.