Hyperscale Data Bitcoin Sale Ends At 211.56 BTC And $16M

Hyperscale Data bitcoin sale reached its last coin on November 8, when the company sold all of its remaining reserve. About 211.56 bitcoin went at roughly $76,000 each, for gross proceeds of about $16.0 million. The company announced it in a press release on November 10.

Since a first partial sale in late July 2026, the company says it has sold about 1,113 bitcoin for about $74.4 million. The money goes to debt paydown and to its Michigan AI data center.

Why the Hyperscale Data bitcoin sale happened

Chief executive Will Horne put the data center first. He said the highest priority is to energize the first 10 megawatts of critical IT capacity in Michigan in December. In his words, selling the reserve cuts exposure to bitcoin price swings and gives cash for debt paydown.

The Hyperscale Data press release of November 10. Source: PR Newswire, Hyperscale Data.

The company keeps mining at its Montana site. It expects any bitcoin on its balance sheet from now on to come mainly from that mining. Hyperscale Data trades on NYSE American as GPUS.

A convertible note signed two days before the sale

On November 6, two days before the last sale, the company signed a note purchase agreement with an institutional investor. Its 8-K describes three notes. The first has $10,810,810.81 of principal and was sold for $10 million. The second, $5,405,405.41 of principal, sells on or around November 16 for $5 million. A third, for $10 million, is possible if both sides agree.

Every note carries a 7.5% original issue discount. Together the notes have a face value of $27,027,027.03. Interest is 8% a year, and it rises to 18% if the company defaults.

The conversion terms in the company's 8-K. Source: SEC filing, Hyperscale Data 8-K.

The notes convert into Class A shares at the lower of two prices. One is $0.30. The other is a 10% discount to the lowest daily volume-weighted average price in the five trading days before a conversion notice. A floor price of $0.1025 applies. Maturity starts at February 5, 2027 and moves to May 5, 2027 once stockholders approve the issuance.

NYSE rules limit conversion shares to 19.99% of the shares outstanding on the signing date unless stockholders approve more. The company agreed to file a proxy statement to seek that approval.

Dates to watch after the sale

The press release lists the next steps. A 10-Q for the September quarter is due on or before Monday, November 23, the company says. An exchange offer for the Class A common stock is also on the table. Its virtual Investor Day moves from November 12 to November 23.

When the exchange offer starts, the company says it will file the offer documents with the SEC. Stockholders can read them free at sec.gov. An earlier filing dated November 9, a Schedule TO-C, also sits on EDGAR under the company's name.

The Hyperscale Data bitcoin sale is one corporate bitcoin move to log. Strategy's stock sale for its STRC buyback, covered in our earlier report, is another. For GPUS holders, the 10-Q and the exchange documents are the pages that will show what the sale did to the balance sheet. This article reports company filings and does not tell anyone to buy or sell.