HyperScale Data Sells 100 Bitcoin to Fund Michigan AI Data Center
Summary
- HyperScale Data said it is funding development of a Michigan data center campus by selling 100 Bitcoin.
- The company said it can preserve a substantial portion of its holdings while raising funds through a Bitcoin-backed loan at a 4.50%-5.0% floating interest rate.
- Chief Executive Officer William Horne said the company still has long-term conviction in Bitcoin, but will convert part of it into AI infrastructure assets to generate long-term cash flow.
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HyperScale Data, a US digital-asset treasury company focused on Bitcoin, has sold part of its holdings to help finance a data center campus in Michigan.
The company said July 30 that it had adjusted its Bitcoin reserve strategy and already sold about 100 Bitcoin for cash. The proceeds will be used to build the data center and cover related costs.
HyperScale Data also secured a Bitcoin-backed credit facility with an expected floating interest rate of 4.50% to 5.0% annually. It did not disclose the total borrowing limit.
The company said the plan would allow it to raise funds at relatively low rates while preserving a substantial portion of its Bitcoin holdings.
Chief Executive Officer William Horne said the company's long-term conviction in Bitcoin remains unchanged. The strategy is to monetize part of its Bitcoin holdings or use them as collateral and shift that capital into AI infrastructure assets that can generate long-term cash flow.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul