Hyperscale Data (NYSE: GPUS), an AI data center company, has completed the sale of about 685 Bitcoin for roughly $43 million at recent market prices, according to PR Newswire. The company said the proceeds will be used mainly to continue developing and expanding its Michigan data center while also repaying about $30 million in debt to improve its capital structure. After the transaction, Hyperscale Data still holds about 275 BTC. Executive Chairman Todd Ault said the move was a capital allocation decision rather than a retreat from the company’s long-term Bitcoin accumulation strategy. He added that Hyperscale Data will continue its Bitcoin mining operations and plans to rebuild its Bitcoin position over time.
Hyperscale Data (NYSE: GPUS), an AI data center company, said it has completed the sale of about 685 Bitcoin for roughly $43 million at recent market prices, according to PR Newswire.
The company said the proceeds will be used primarily to support the continued development and expansion of its Michigan data center. Part of the funds will also go toward repaying about $30 million in debt to improve its capital structure.
Following the sale, Hyperscale Data said it still holds about 275 BTC.
Executive Chairman Todd Ault said the sale was a capital allocation decision and did not signal an abandonment of the company’s long-term Bitcoin accumulation strategy. He said the company will continue its Bitcoin mining operations and plans to gradually rebuild its Bitcoin holdings over time.
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