Hyperscale Data (GPUS) Stock Falls 17% as Michigan Bitcoin Mining Ends for AI Deal
TLDR
- Hyperscale Data shut down all Bitcoin mining at its Michigan facility on Sept. 1 to make way for an AI data center customer.
- A California-based neocloud provider has contracted 20 MW under a 10-year deal worth over $1.2 billion, with options potentially pushing that above $3 billion.
- GPUS stock fell around 17% to close at $0.1984, a split-adjusted all-time low.
- The company has sold 830 BTC over the past five weeks, raising roughly $53 million to fund the Michigan transition.
- Bitcoin holdings have dropped 79% since late July, now sitting at around 215 BTC worth approximately $16.7 million.
Hyperscale Data (GPUS) closed at $0.1984 on Wednesday, down about 17% and touching an intraday low of $0.1932. That closing price is a split-adjusted record low for the NYSE American-listed stock.
The drop came after the company confirmed it switched off all Bitcoin miners at its Michigan facility on Sept. 1. The shutdown follows a site inspection by an unnamed California-based neocloud provider that has now signed a master services agreement with Hyperscale.
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