Hyperscale Data said it plans to separate its Bitcoin mining operations from its Michigan and Montana data centers into a subsidiary called Patriot BTC. According to NS3.AI, the Michigan campus will focus on AI compute capacity, with an initial 20 MW targeted for November under a 10-year agreement and rights to add 32 MW.

The company’s shares were near their 52-week low and had fallen 91.36% over the past year.