CEO Milton “Todd” Ault III of Hyperscale Data has announced the sale of approximately 685 bitcoins, valued at about $43 million. This decision reduces the company’s holdings to around 275 BTC. The proceeds from this transaction will be used to support the Michigan data center and manage debt, equity, and capital structure. Ault III stated that selling part of their holdings is an appropriate allocation of capital, as Hyperscale Data plans to continue mining Bitcoin and expects to use future mining production and available capital to rebuild and increase their Bitcoin position over time.
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Written by James Tobias
Bitcoin Desk
