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Hyperscale Data switched off every Bitcoin (BTC) miner at its Michigan facility on Sept. 2, 2026, ending crypto mining operations at the site as it prepares the campus for a new artificial intelligence data center customer. The company said it plans to sell the mining equipment.
The AI customer, a California-based neocloud provider that Hyperscale has not publicly named, conducted an inspection of the facility before the miners were shut down. Under a 10-year master services agreement, the customer has contracted for 20 megawatts (MW) of computing capacity, with two optional five-year extensions available.
Revenue Projections Hinge on Extensions
Over the full 20-year maximum term, the agreement could generate more than $1.2 billion in revenue. That figure rises above $3 billion if the customer exercises an additional 32 MW option. The Michigan site has capacity to support 340 MW in total. Hyperscale cautioned that both projections depend on the customer taking up optional terms and that its plans remain subject to financing and regulatory approvals.
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To fund the Michigan conversion, Hyperscale has been drawing down its Bitcoin treasury. As of July 30, 2026, the company held roughly 1,006 BTC. During the week ending Aug. 30, 2026, it sold approximately 65 BTC for $5.1 million, with the proceeds allocated to development costs at the Michigan site.
Hyperscale’s Bitcoin holdings now stand at 215 BTC, valued at roughly $16.7 million. That represents a 79% decline from the July figure and ranks the company 84th among public companies.
Stock Falls to Split-Adjusted Record
Hyperscale’s shares closed at $0.1984 on Sept. 2, 2026, a drop of about 17% on the day, after hitting an intraday low of $0.1932. The closing price was a split-adjusted record low for the stock, which is listed on NYSE American.
The sell-off followed a one-for-five reverse stock split that took effect Aug. 25, 2026, per a filing with the US Securities and Exchange Commission. The stock had been declining as the company accelerated BTC sales to cover construction and development costs at the Michigan facility.
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