Hyperscale Data (NYSE American: GPUS) announced on July 30, 2026 that it sold approximately 100 BTC for around $6.5 million and established a Bitcoin-backed credit facility to finance construction and equipment at its Michigan AI data center campus. The goal is to fund an AI infrastructure project tied to a Master Services Agreement with projected revenues exceeding $1.2 billion, potentially reaching over $3 billion if contract extensions are exercised.
What the deal actually looks like
Hyperscale signed the MSA on June 24, 2026 with a California-based neo-cloud provider. The initial agreement covers 20 MW of AI computing capacity at the Michigan campus under a 10-year term.
Initial deployment costs are estimated between $100 million and $120 million. The Bitcoin-backed credit facility carries variable interest rates between 4.5% and 5.0%.
As of July 27-28, 2026, Hyperscale holds over 1,106 BTC valued at approximately $71-72 million, having crossed the 1,000 BTC threshold earlier in July. The company has stated a broader treasury target of accumulating $100 million in Bitcoin assets.
Executive Chairman Milton “Todd” Ault III is overseeing the transition through subsidiaries including Sentinum and Ault Capital Group. The Michigan campus represents the operational centerpiece of that effort.
The pivot from picks-and-shovels to the mine itself
Hyperscale previously operated around 28 MW of Bitcoin mining capacity. It is now redirecting that power infrastructure toward AI workloads.
The 100 BTC sold for $6.5 million represents a small portion of its total holdings, functioning more as a liquidity management decision than a strategic exit from crypto.
What investors should watch
Bitcoin’s market value directly influences the credit facility’s collateral cushion. A sharp drawdown in BTC price could trigger margin-like dynamics on the lending structure, forcing the company to either post additional collateral or sell holdings at an inopportune moment.
The $100-120 million initial cost estimate is a projection, not a fixed-price contract. The California-based neo-cloud provider is not named publicly, which limits outside assessment of its creditworthiness and ability to sustain a decade-long compute contract. The $3 billion total figure assumes full extension scenarios that depend on that counterparty’s own business trajectory.