Hyperscale Data Sells Final 211.56 BTC for About $16 Million

Hyperscale Data (NYSE American: GPUS) has sold its remaining bitcoin reserve of 211.56 BTC for about $16 million, Bitcoin Magazine reported on November 10. The company said the sales were completed as of November 8 at roughly $76,000 per coin.

According to the company’s press release, the proceeds will pay down debt and fund continued development of its Michigan AI data center. Bitcoin Magazine noted that the company did not say how much debt the money has retired or how much remains outstanding.

The sale completes a run that began in late July. Since then, Hyperscale has sold about 1,113 BTC for roughly $74.4 million, an average of about $66,800 per coin, the company said. Bitcoin Magazine calculated that at a price near $74,200 those coins would be worth about $82.6 million. In late July the company held more than 1,106 BTC and had said it wanted a $100 million digital asset treasury.

CEO Will Horne said, “Our highest priority is to energize the first 10 megawatts of critical IT capacity at our Michigan data center in December.” Bitcoin Magazine quoted him as saying that bringing that capacity online is the quickest path to profitability.

The company said it continues mining at its Montana site and expects any future bitcoin holdings to come mainly from that mining. All figures are company-reported.

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Sources:

• Bitcoin Magazine: Hyperscale Data Sells Its Last Bitcoin To Fund AI Data Center

• Stock Titan: Hyperscale Data sells remaining Bitcoin reserves to reduce debt (company press release)