Hyperscale Data Ends Michigan Bitcoin Mining for AI Pivot

Hyperscale Data has ceased all Bitcoin mining operations at its Michigan facility as of September 1, 2026, marking a definitive pivot toward artificial intelligence infrastructure. The move, announced in a September 2 statement, follows the execution of a master services agreement with an unnamed California-based neocloud provider. The contract secures an initial 20 megawatts of AI computing capacity for a 10-year term, with the company projecting potential revenue exceeding $1.2 billion over a maximum 20-year period if the customer exercises two optional five-year extensions. The operational halt at the Michigan site is the first concrete step in converting the property from a cryptocurrency mine into an AI data center. Hyperscale Data intends to sell the Bitcoin mining servers that were previously deployed at the location. The company's stock, trading on the NYSE American under the ticker GPUS, reacted sharply to the announcement, closing at $0.1984 on September 2, a decline of approximately 17% for the session. The price reached an intraday low of $0.1932, establishing a new split-adjusted all-time low. The stock has fallen more than 76% year-to-date in 2026.