Hyperscale Data sells 685 BTC, redirects $43M toward Michigan data center

Hyperscale Data has sold about 685 Bitcoin for approximately $43 million, cutting its holdings to around 275 BTC as it directs more capital toward its Michigan data center. Summary Hyperscale Data sold about 685 Bitcoin for approximately $43 million. The proceeds will primarily fund the continued development of its Michigan data center. The company retains about 275 BTC and plans to continue Bitcoin mining. Hyperscale Data expects to rebuild its Bitcoin holdings over time using mining production and available capital. Hyperscale Data said Friday that most of the proceeds will be used for the continued development and expansion of the Michigan facility, while part of the cash will give it more room to manage debt, equity and its overall capital structure. The transaction leaves the NYSE American-listed company with roughly 275 BTC on its balance sheet. Management described the sale as an allocation of capital at its current stage of development and said Bitcoin remains part of its long-term strategy. Executive Chairman Milton “Todd” Ault III said the company plans to continue mining Bitcoin and expects to use future mining production and available capital to rebuild its holdings ove...