Hyperscale Data Sells Remaining Bitcoin Reserves For Gross Proceeds Of ~$16M To Fund Its Michigan AI Data Center
Benzinga Newsdesk 3 hours ago
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As of November 8th, 2026, it had sold all of its remaining Bitcoin reserves at approximately $76,000 per Bitcoin. The Company sold approximately 211.56 Bitcoin and received gross proceeds of approximately $16.0 million.
As of November 8th, 2026, it had sold all of its remaining Bitcoin reserves at approximately $76,000 per Bitcoin. The Company sold approximately 211.56 Bitcoin and received gross proceeds of approximately $16.0 million. Since the Company initially sold a portion of its Bitcoin reserve in late July of 2026, the Company has sold approximately 1,113 Bitcoin for approximate proceeds of $74.4 million. Hyperscale Data is using the proceeds to pay down debt and fund the continued development of its Michigan AI data center.
Hyperscale Data continues to mine Bitcoin at its Montana mining site. Going forward, the Company expects any Bitcoin it holds on its balance sheet to come primarily from its own mining operations.
The Company expects to file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2026, on or before Monday, November 23. In light of the recently announced proposed exchange offer for its Class A common stock (the "Exchange Offer"), the Company also expects to move its virtual Investor Day from November 12 to November 23. Management expects to update investors on debt reduction and progress toward the December energization target.