Hyperscale Data, Inc. said Nov. 10 it had sold its remaining Bitcoin (BTC) holdings and plans to use the proceeds for debt repayment and a Michigan artificial intelligence data center.
By Nov. 8, 211.56 BTC had left the reserve in the final transaction, at roughly $76,000 each; the sale brought in about $16 million. Sales over the period beginning in late July amounted to roughly 1,113 BTC and $74.4 million. That cumulative amount includes the final transaction.
The company continues mining Bitcoin in Montana and expects its mining output to supply most of its Bitcoin holdings going forward. It plans to use the sale proceeds to repay debt and develop the Michigan data center. Its next stated milestone is to power up the first 10 megawatts of data center capacity there in December.
The company’s third-quarter revenue estimate put revenue at about $40 million, with lower Bitcoin mining revenue partly offsetting gains in other operations.
