Popular crypto stock falls sharply after twin announcements

Popular crypto stock falls sharply after twin announcements

Fri, August 14, 2026 at 9:36 PM GMT+3 2 min read

• BTC-USD +0.02%
• GPUS -17.17%

Hyperscale Data, Inc. (NYSE American: GPUS), one of the most popular Bitcoin (BTC) mining companies, announced on Aug. 14 that it has sold around 685 Bitcoin for approximately $43 million and intends to use the proceeds toward the continued development and expansion of its Michigan data center, along with debt management, equity and overall capital structure, and other strategic corporate initiatives.

The company still holds approximately 275 Bitcoin. It also clarified that the sale doesn't represent a departure from its long-term Bitcoin accumulation strategy and it expects to continue mining Bitcoin.

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"Bitcoin has been an important part of Hyperscale Data's strategy and we expect it to remain an important part of our strategy going forward," said Hyperscale Data's executive chairman Milton "Todd" Ault III. "We intend to continue mining Bitcoin and, over time, expect to use mining production and available capital to rebuild and increase our Bitcoin position."

However, the company said its management believes that redeploying a portion of its Bitcoin treasury into the Michigan data center and strengthening its overall capital structure represents an appropriate capital allocation.

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The latest Bitcoin sale on the part of Hyperscale Data is part of the broader pivot among Bitcoin miners toward data infrastructure tailored for artificial intelligence (AI) operations.

Rising power costs, falling Bitcoin prices, lower mining rewards, and the demand for AI have made it very alluring for these firms to make the pivot. These firms have a ready infrastructure and have an early mover advantage in the AI industry.

The company also announced on Aug. 13 that it is going for a 1-for-5 reverse stock split which will take effect on Aug. 24. The company took the decision to boost its per-share trading price.

Following the twin announcements, Hyperscale Data's stock fell sharply by more than 17% to fall as low as $0.0930. At press time, it was trading at $0.0978.

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This story was originally published by TheStreet on Aug 14, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.