Hyperscale Data (ticker GPUS), a publicly listed data‑center operator, announced on Tuesday that it has sold its final Bitcoin reserve – 211.56 BTC – for approximately $16 million. The transaction, completed by November 8 at about $76,000 per coin, is intended to reduce the firm’s debt load and finance the energization of its first 10‑megawatt AI‑focused data‑center in Michigan, scheduled for December. According to the company’s release, the proceeds will support the construction and operational costs of the new facility, which the CEO, Will Horne, described as the quickest path to profitability.

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From a $100 million treasury ambition to zero Bitcoin

In July, Hyperscale Data disclosed a plan to build a $100 million digital‑asset treasury, aiming for parity between its Bitcoin holdings and market capitalization. At that time the firm reported owning more than 1,106 BTC and pledged to continue acquiring the cryptocurrency as “pristine collateral.” Over the following months the company sold roughly 1,113 BTC for about $74.4 million, averaging $66,800 per coin, a stark reversal from its earlier strategy. The latest sale marks the end of that treasury, leaving the firm to rely on future mining output from its Montana site for any Bitcoin exposure.

Industry context: miners turning Bitcoin into data‑center capital

Hyperscale Data joins a growing list of publicly traded miners that have liquidated Bitcoin reserves to fund AI and data‑center projects. Keel sold its entire treasury for $192 million in Q3, while Riot and Hut 8 have sold thousands of BTC to support AI buildouts and share buybacks. Marathon Digital (MARA) recently sold 13,597 BTC for roughly $1.1 billion, citing similar needs for AI infrastructure and convertible‑note financing. These moves reflect a broader trend of miners reallocating crypto assets toward capital‑intensive AI and cloud‑computing initiatives.

What to watch next

Investors will be monitoring Hyperscale’s upcoming 10‑Q filing, due by November 23, for details on remaining debt and the progress of the Michigan data‑center rollout. The company also plans a virtual Investor Day on the same date, where management is expected to update shareholders on the divestiture of its Ault Capital Group subsidiary and the broader shift toward a pure data‑center business model. Market participants will watch Bitcoin price movements, as any future mining‑derived BTC could affect the firm’s balance sheet and liquidity.