Hyperscale Data Sells Last 211.56 BTC for $16M

Hyperscale Data (NYSE American: GPUS) has sold all of its remaining bitcoin, about 211.56 BTC, for gross proceeds of roughly $16.0 million. The company announced it on Nov. 10 in a press release, saying the sale was completed as of Nov. 8 at an average price of about $76,000 per coin.

Details

The proceeds will go toward paying down debt and developing the company's AI data center in Michigan. According to the company, it has sold about 1,113 BTC since late July for roughly $74.4 million. Earlier steps: in July it sold 100 BTC and opened a bitcoin-backed credit facility, and in August it sold 685 BTC for about $43 million (The Block).

On Nov. 3 the company reported holding 211.4639 BTC as of Nov. 1, valued at about $16.5 million at $78,248 per coin (Investing.com). Those coins are now sold.

The top priority is to bring the first 10 megawatts of critical IT capacity online in Michigan in December. CEO Will Horne called that "our quickest path to profitability." The company keeps mining at its Montana site and expects any bitcoin on its balance sheet to come mainly from its own mining going forward. Its 10-Q is expected by Nov. 23, and its investor day has moved from Nov. 12 to Nov. 23.

What this means for the market

The sale shows public companies with bitcoin on their balance sheets pivoting toward AI infrastructure: coins held as a reserve are being turned into cash for a data center and debt repayment. At about 211 BTC the volume is small for the market, but it adds to a run of sales by companies of this type, such as MARA earlier this week. For the live bitcoin price, see the daily brief.