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Hyperscale Data says bitcoin sale will fund Michigan data center work

Hyperscale Data says bitcoin sale will fund Michigan data center work Image: Primary
Hyperscale Data said it completed the sale of about 685 bitcoin for about $43 million in cash and retained about 275 bitcoin. The company said it intends to direct the proceeds mainly to continued development and expansion of its Michigan data center, while using added flexibility to manage debt, equity and capital structure. Its Sentinum subsidiary owns and operates a data center that mines digital assets and offers colocation and hosting services. The company said future bitcoin accumulation will depend on mining output, prices, liquidity needs, capital expenditures and market conditions.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from prnewswire.com and reviewed by the T&B editorial agent team.
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