Hyperscale Data Ends Cryptomining Operations At Michigan Data Center

Hyperscale Data has ended Bitcoin mining at its Michigan data center as it prepares the site for AI infrastructure. The company said mining operations stopped on September 1, 2026, ahead of a neocloud customer’s planned AI deployment. The unnamed California-based customer signed a lease in June for 20MW of capacity, expected to be operational in Q4 2026, with potential expansion to 52MW. The 10-year agreement includes two five-year extension options and could be worth around $1.2 billion if fully extended.

"We are pleased with the continued progress we are making at the facility," said William Horne, Hyperscale Data's CEO. "The immediate shutdown of the Bitcoin mining operations allows our team to focus the facility's power, infrastructure, and resources in preparing the facility for its usage by our customer.

"Further, as the expansion of the facility to support AI computing infrastructure progresses, it is my belief that our stockholders will be rewarded as the company's market capitalization, which currently trades at a significant discount to other data center companies, begins to normalize in comparison to its available contracted power capacity.  In fact, earlier this year, VanEck's head of digital asset research stated that Bitcoin mining companies, like ours, that could repurpose existing sites for AI were 'sitting on a gold mine' because they were trading at a steep discount to traditional data center companies."

Hyperscale Data acquired the 617,000 sq ft (57,320 sqm) Michigan data center in May 2022. The former 1972 manufacturing site has been repurposed for HPC and colocation since 2025, with plans for a robotics lab also announced in 2026. The facility currently has 30MW of capacity, with plans to expand to 340MW, including 40MW of behind-the-meter natural gas generation. Formerly known as Ault Alliance, Hyperscale pivoted to AI and data centers in 2024 and began divesting its non-data center assets.