Hyperscale Data (GPUS) Sells Its Last Bitcoin for AI Data Center, Months After Chasing $100 Million Treasury

Bitcoin Magazine

Hyperscale Data (GPUS) Sells Its Last Bitcoin for AI Data Center, Months After Chasing $100 Million Treasury

Hyperscale Data has sold the last of its bitcoin, the NYSE American-listed company said Tuesday, unloading about 211.56 BTC for roughly $16 million to pay down debt and fund an AI data center in Michigan.

The sales were completed by Nov. 8 at about $76,000 per coin. Since it first sold part of its reserve in late July, Hyperscale has sold approximately 1,113 bitcoin for about $74.4 million, the company said.

That works out to an average of roughly $66,800 per coin. At today’s price near $74,200, the same 1,113 BTC would be worth about $82.6 million.

The company, which trades under the ticker GPUS, said the money will go toward its Michigan site, where it aims to energize the first 10 megawatts of critical IT capacity in December.

“We believe bringing that capacity online is our quickest path to profitability,” CEO Will Horne said in the release. “Selling our Bitcoin reserves reduces our exposure to Bitcoin price swings and gives us cash to pay down debt and fund the work in Michigan. We believe that’s the best use of this capital for all our stockholders.”

The exit is a sharp reversal from Hyperscale’s plans this summer. In late July, the company reported holding more than 1,106 bitcoin and said it wanted to build a $100 million digital asset treasury and reach full parity between its bitcoin holdings and its market capitalization.

“Every Bitcoin we acquire further strengthens Hyperscale Data’s balance sheet and expands our financial flexibility,” Executive Chairman Milton “Todd” Ault III said at the time. “We intend to continue building our Bitcoin position over time.”

A week later, Hyperscale disclosed its first sale, about 150.5 BTC, leaving it with roughly 958.5 BTC as of Aug. 2, even as its Ault Capital Group subsidiary bought about 15 BTC on the open market. The holdings were split between that unit and Sentinum. Ault said then that the company planned to keep a long-term position while tapping it for short-term flexibility, adding, “We are confident in our ability to use Bitcoin as pristine collateral.”

Tuesday’s release closes that chapter. Hyperscale said it still mines bitcoin at its Montana site and expects any bitcoin it holds on its balance sheet going forward to come “primarily” from its own mining operations.

Hyperscale is the latest public company to give up a bitcoin treasury in favor of data center spending. Keel sold its entire bitcoin treasury for $192 million in the third quarter, and Riot and Hut 8 sold thousands of bitcoin to fund AI buildouts and buybacks.

Larger miners are moving the same way. MARA said Monday it sold 13,597 BTC for about $1.1 billion after Sept. 30 and plans to keep selling to fund AI infrastructure, convertible note puts and share repurchases.

Hyperscale’s structure is more complicated than a pure-play miner’s. Its Sentinum subsidiary runs the data center business, while Ault Capital Group, a hybrid private equity firm and operating company, holds a mix of lending, defense, industrial and hotel businesses. Hyperscale expects to divest Ault Capital Group in 2027 and become a data center owner and operator.

The company said it expects to file its third-quarter 10-Q on or before Nov. 23. Because of a newly proposed exchange offer for its Class A common stock, it is also moving its virtual Investor Day from Nov. 12 to Nov. 23, when management plans to update investors on debt reduction and the December energization target.

Hyperscale did not say how much debt the bitcoin proceeds have retired so far or how much remains outstanding.

This post Hyperscale Data (GPUS) Sells Its Last Bitcoin for AI Data Center, Months After Chasing $100 Million Treasury first appeared on Bitcoin Magazine and is written by Micah Zimmerman.