Hyperscale Data announced Nov. 10 that it had sold all of its remaining Bitcoin (BTC) reserves, bringing sales since late July to about 1,113 BTC and $74.4 million. The U.S.-listed company trades on the NYSE American as GPUS. By Nov. 8, it had sold its final 211.56 BTC at an average price of about $76,000 per coin.
The final tranche generated about $16 million, while the $74.4 million figure covers all sales since late July. Hyperscale Data plans to use proceeds from the BTC sales to repay debt and develop an artificial intelligence (AI) data center in Michigan.
The company continues to mine Bitcoin in Montana and expects future BTC holdings to come mainly from its own mining output. Its next stated milestone is to power up its first 10 MW of data center capacity at the Michigan site in December.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to [email protected].
