Points of Focus

• Hyperscale Data sold about 100 BTC and opened a Bitcoin-backed credit line at an expected 4.5%-5%.
• The capital will fund a 20 MW Michigan AI contract worth more than $1.2 billion if both extensions are exercised.
• SEC filings show delays can trigger service credits and let the customer terminate the affected phase.

Hyperscale Data has started converting its Bitcoin (BTC) treasury into construction capital, selling about 100 BTC and opening a Bitcoin-backed credit facility to accelerate development of its Michigan AI data center campus. The funding draws on a treasury that held 1,106.0467 BTC on July 27 and supports a 20-megawatt buildout under the company’s first master services agreement for the campus.

The company said sale proceeds will cover construction, critical infrastructure, and equipment with long delivery times. The credit facility carries expected variable interest rates of 4.5%-5% and permits Bitcoin to serve as collateral. Hyperscale Data didn’t disclose the lender, borrowing limit, loan-to-value terms, or the dollar proceeds from the BTC sale, making the extent of its collateral exposure difficult to assess.

Hyperscale Data Sells About 100 BTC, Opens Credit Facility to Fund AI Data Center

According to The Block, Bitcoin treasury company Hyperscale Data sold approximately 100 BTC and opened a Bitcoin-backed credit facility to fund its AI data center in Michigan. The company said it… pic.twitter.com/3Utwfxl2Zt

— Wu Blockchain (@WuBlockchain) July 30, 2026

Bitcoin sale reduces reliance on new shares

The funding shift comes after Hyperscale Data raised $24.7 million through equity issuance. A US Securities and Exchange Commission filing shows the company sold 137.6 million common shares through an at-the-market program through May 15, 2026. Selling Bitcoin and borrowing against its remaining holdings gives the company another source of capital without issuing new shares while introducing exposure to Bitcoin price moves and collateral requirements.

BitcoinTreasuries.net listed Hyperscale Data with about 1,006 BTC after the transaction, placing it 44th among tracked public companies. The company has described the sale as a capital-allocation shift rather than an exit from Bitcoin, with the remaining holdings intended to preserve treasury exposure.

Michigan AI contract carries delivery conditions

The Michigan campus is being developed under a June 23 master services agreement with an unnamed AI infrastructure customer. The first phase covers 10 MW targeted for delivery on Sept. 21, while a second 10-MW phase is scheduled by the end of 2026. The agreement requires a $5-million upfront charge and a $5.6-million cash security deposit from the customer.

Hyperscale Data estimates the agreement could generate about $1.2 billion over a 10-year term plus two optional five-year extensions. A right of first offer for another 32 MW could lift the projected value to about $3 billion, but both figures depend on customer options and the company meeting delivery obligations.

The SEC-filed contract gives the customer service credits if a phase runs more than 90 days late and a termination right after a 120-day delay. Hyperscale Data’s first test is the 10-MW Phase 1 delivery target on Sept. 21, 2026.