Hyperscale Data stock hits record low after shutting down Michigan bitcoin mining for AI

Hyperscale Data exits Michigan bitcoin mining to focus on AI

Nasdaq-listed Hyperscale Data has stopped all bitcoin mining at its Michigan site to prepare the facility for artificial intelligence (AI) computing. The company’s stock, traded under the ticker GPUS, fell to a new all-time low of $0.22 on Tuesday, extending its decline to over 76% in 2026.

The Michigan site is being redeveloped under a 20-year agreement with an unnamed California-based cloud provider. The deal, covering 20 megawatts of power, is expected to generate about $1.2 billion in revenue, with an option to expand to 32 megawatts, potentially increasing total revenue above $3 billion.

Ongoing bitcoin mining and funding

Hyperscale Data continues to mine bitcoin in Montana, where it operates around 10 megawatts of capacity and is exploring an additional 125 megawatts. To fund the Michigan transition, the company sold 830 bitcoin over the past five weeks for roughly $53 million. It still holds 275 bitcoin, currently worth about $21.2 million.

Key numbers

• Stock price drop: GPUS hit a low of $0.22, down over 76% in 2026.
• Michigan AI deal: $1.2 billion over 20 years, with expansion potential above $3 billion.
• Bitcoin sold: 830 BTC for $53 million to fund the transition.
• Remaining bitcoin holdings: 275 BTC.
• Montana mining capacity: 10 MW in operation, 125 MW under exploration.

What is confirmed

Hyperscale Data has officially ended bitcoin mining at its Michigan site as of September 1, 2026. The company is shifting the site to AI infrastructure under a long-term agreement. Its stock price has reached a record low, and it has sold a significant portion of its bitcoin holdings to finance the transition.

Why this matters

The move highlights a growing trend of companies pivoting from bitcoin mining to AI infrastructure, driven by changing market demands and revenue potential. Hyperscale Data’s stock decline reflects investor reactions to this strategic shift.

Sources

• The Block