Hyperscale Data sold about 100 bitcoin and established a bitcoin-backed credit facility to help finance construction of its Michigan AI data center campus, joining a growing number of publicly traded bitcoin companies using treasury holdings to finance AI and broader infrastructure investments.
The company said it "monetized" the bitcoin to fund the project but did not specify when the sale occurred or the price received. Based on Thursday's bitcoin price of $64,823, the transaction would have been worth roughly $6.48 million, according to The Block's BTC price page.
Bitcoin (BTC) was up 0.88% over the previous 24 hours but remained 48.6% below its all-time high of $126,080.
"This decision does not constitute a change in our long-term conviction regarding Bitcoin," Hyperscale Data CEO William Horne said in a statement. "By selectively monetizing and financing against a portion of our Bitcoin holdings, we are shifting one balance sheet asset for another."
According to the statement, the company has begun redeploying part of its $71 million bitcoin treasury into the Michigan project while using its remaining holdings as collateral for borrowings carrying expected variable interest rates of 4.5% to 5.0%. The strategy supports a previously announced master services agreement with a neo-cloud AI infrastructure provider.
Hyperscale Data said the initial agreement covers approximately 20 megawatts of AI compute capacity over a 10-year term, with two optional five-year extensions. If fully extended, the contract is projected to generate more than $1.2 billion in revenue.
The customer also holds an option to add another 32 MW of capacity within the first two years, which the company said could increase total contract revenue to more than $3 billion if exercised and maintained through the maximum term.
The move follows similar treasury actions by other publicly traded bitcoin companies this year. In March, MARA Holdings sold 15,133 BTC for approximately $1.1 billion to repurchase convertible senior notes and support its expansion into digital energy and AI infrastructure.
Bitdeer Technologies also liquidated its remaining 943.1 BTC reserve in February as it pursued data center expansion and its AI strategy, while Strategy sold 3,588 BTC in July to strengthen dollar liquidity and fund preferred stock obligations.
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