Hyperscale Data has announced the establishment of a Bitcoin-collateralized DeFi financing program via the Morpho Protocol, according to Prnewswire. As of August 2, the company has borrowed approximately $300 million, collateralized by a portion of its Bitcoin reserves, at a current floating interest rate of around 4.9%. The raised funds will primarily be used to expand its AI data center in Michigan and supplement working capital. The company also stated that it will continue to maintain long-term price exposure to the pledged Bitcoin.
Hyperscale Data borrows $30 million using Bitcoin as collateral to expand its AI data center.
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Summary
Hyperscale Data secured $30 million in Bitcoin-backed financing through the Morpho Protocol, using BTC as collateral. The loan, at a 4.9% floating interest rate, will fund the expansion of its AI data center in Michigan and support working capital. The move comes amid close monitoring of inflation data, with the company maintaining long-term Bitcoin exposure.
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