Hyperscale Data ended bitcoin mining at its Michigan site for a 20MW AI contract

Every bitcoin miner at Hyperscale Data’s data centre in Dowagiac, Michigan was switched off on 1 September 2026. The company said so in a release the following morning, describing the shutdown as fulfilling the requirements of an AI data centre contract.

The site was carrying roughly 28MW of mining load when the agreement was signed. What replaces it, so far, is 20MW for one customer.

What was actually signed

The master services agreement was executed on 24 June 2026 by Alliance Cloud Services, a Hyperscale Data subsidiary, and disclosed in an 8-K exhibit the same month. The filing describes the counterparty only as a California-based neocloud provider, and that description still stands as the company’s account of who it is.

The commercial shape, from the company’s own filing:

Read the term carefully, because the headline number depends on it. The filing defines the maximum term as the initial ten years plus both five-year extensions, and it is that twenty-year run, at the customer’s option throughout, which is expected to generate in excess of $1.2bn. The press release headline carries the figure on its own, and the term sits in the filing.

The option is for a further 32MW, which would bring the total to 52MW, and it remains open to the customer. Retrofitting the first 20MW was put at $100m to $120m in the June release, with the capacity expected operational in the fourth quarter of 2026 and revenue possible from late September.

The share of the site this covers

Hyperscale Data has said its Michigan campus will eventually run to about 340MW.

Set the signed contract against that. The 20MW now under agreement is roughly 6% of the eventual campus. If the customer exercises its option in full, 52MW divides to about 15%, though the company’s own release puts that ceiling at approximately 20% of the site. Either way, a working, revenue-generating bitcoin operation has come off the wall to make room for a single customer the company describes only as a California-based neocloud provider, on a contract that covers a fraction of the site it is being cleared for.

The denominator has moved too. In the June releases the campus was put at 300MW and the 52MW ceiling at approximately 17% of it. By September the site figure was about 340MW and the same ceiling was described as approximately 20%.

The trade has its own logic. A contract that can run twenty years for in excess of $1.2bn is a different quality of revenue from mining, which reprices with the bitcoin price and the network difficulty every day. The argument here is narrower: the headline figure describes an intention for the site rather than a state of it.

Where the record stands this morning

The 1 September shutdown was announced in a press release the following morning. The most recent filing on the company’s EDGAR index is dated 20 August 2026, so as of this morning the event sits in company communications, and a filing may follow inside the usual window.

The company says it expects to recognise additional gains from its intended sale of the associated bitcoin mining servers. The unit count, the model, the book value and the expected proceeds all remain with the company, so the gain stands today as an expectation.

The Montana sites are separate and still mining, with a utility determination in hand for about 125 additional megawatts.

How far the evidence goes

The shutdown, the contracted capacity, the term and the contract values all come from the company’s own filings and releases, and those deal figures are consistent across them. The campus total is the figure that has moved, from 300MW in June to about 340MW in September.

Three numbers will settle what this becomes: the customer’s name, the timing of the 32MW option, and the price the mining hardware fetches. All three sit with the company today, and the first one to reach the record tells you whether this is the start of a campus or the end of a mining business.