Hyperscale Data, Inc. (AMEX:GPUS) announced Tuesday plans to separate its Bitcoin mining operations from its Michigan and Montana data centers into a subsidiary, Patriot BTC.
The move would leave the Michigan campus focused on AI compute capacity while giving the mining businesses separate capital priorities.
Hyperscale Executive Chair Milton Ault said the company’s Bitcoin mining business “can create greater long-term value with a distinct identity, focused leadership and a strategy tailored to the digital asset sector.”
Michigan Buildout Keeps Funding In Focus
Hyperscale Data has invested more than $70 million in Alliance Cloud Services and its Michigan facility. The company targets a November start for an initial 20 MW under a 10-year agreement.
The customer also holds rights to an additional 32 MW, potentially expanding total capacity to 52 MW.
GPUS Technical Setup Remains Weak
GPUS trades near its 52-week low of 17 cents and is down 91.36% over the past year.
RSI stands at 21.68, signaling oversold conditions.
Shares remain below their 20-day and 50-day SMAs, while the 50-day average remains below the 200-day SMA.
GPUS Stock Price Activity: Hyperscale Data shares were trading 5% lower at $0.18 at the time of publication on Tuesday, according to Benzinga Pro data.
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