Hyperscale Data has stopped, or suspended, Bitcoin mining at its Michigan facility while pursuing a potential $1.2 billion AI contract, reflecting a broader shift among Bitcoin miners toward artificial-intelligence and high-performance-computing workloads. Global AI data-center electricity demand reached approximately 29.6 gigawatts by the end of 2025, about 200 times the 2022 level, intensifying competition for grid capacity. Publicly traded miners have signed between $70 billion and $90 billion in AI and HPC hosting contracts, but face a roughly $50 billion near-term funding gap to convert facilities. Hyperscale Data’s cash, Bitcoin and other assets are worth nearly twice its market capitalization, according to the older account.