Hyperscale Data projected third-quarter revenue at approximately $40 million, up approximately 64% from a year ago.

  • Hyperscale Data has sold its last 211.56 Bitcoin at around $76,000 per coin, making a gross proceeds of around $16 million.
  • The company has sold approximately 1,113 Bitcoin for about $74.4 million since late July through November, abandoning its plan to build a $100 million Bitcoin treasury.
  • The cash is being used to pay down debt and build out its Michigan AI data center, which it expects to have the first 10 megawatts online in December.

Hyperscale Data (GPUS) once set out to build a $100 million Bitcoin (BTC) treasury, but it has now sold every coin it had left to pay down debt and finish the AI data center it is betting its future on in Michigan.

GPUS stock was edged up over 1% in overnight trading, after closing down over 1% on Tuesday. On Stocktwits, retail sentiment around GPUS dropped to ‘neutral’ from the ‘bullish’ zone, accompanied by ‘high’ chatter levels over the past day. 

From $100M Bitcoin Treasury To Zero Holdings

The company said on Tuesday it sold around 211.56 Bitcoin at around $76,000 per coin, as of Sunday. The sale produced gross proceeds of some $16 million.

It was the last in a series of sales that started in late July with approximately 100 BTC sold during that time.

Hyperscale Data had announced in mid September of 2025 that it would create a $100 million Bitcoin treasury. It planned to raise money for the treasury by selling data center assets in Montana and issuing new shares. Its subsidiary Sentinum held around 11 Bitcoin at the time, all of which was mined.

Since then the company pivoted to AI. The company sold a total of 1,113 Bitcoin from July through November, for about $74.4 million, the company said, meaning the company sold it for an average of around $66,850 a coin. 

Michigan AI Data Center Targets December Launch

CEO Will Horne said the company's top priority is to get the first 10 megawatts of computing capacity at the Michigan site online in December. He called that “the quickest path to profitability” for the company.

Horne said selling the Bitcoin reduces the company's exposure to swings in its price. It also frees up cash to pay down debt and build in Michigan, Horne added. “That’s the best use of this capital for all our stockholders” he believes.

Hyperscale Data will continue to mine Bitcoin at its site in Montana. From here on out, it expects to get any Bitcoin it holds mainly from mining.

Revenue Grows, But Cash Remains Tight

Hyperscale Data estimated its third-quarter revenue at roughly $40 million. That was up roughly 64% from a year earlier. Its growth was primarily led by its crane and defense and crane businesses, partially offset by a decline in revenue from Bitcoin mining. 

Hyperscale Data has warned it needs more cash. In its second-quarter filing, the company said cash and other sources of funding were not expected to cover its obligations and planned spending, including at the Michigan site. Those conditions "raise substantial doubt about the Company's ability to continue as a going concern," it said. The company is planning to spend more than $100 million to expand the Michigan facility.

Hyperscale Data’s stock has been down over 79% so far this year. 

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