Hyperscale Data announced the establishment of a Michigan AI development reserve account, a dedicated capital reserve account targeting approximately $120 million to support the continued development of the company’s Michigan AI data center campus.
The company also announced plans to begin publishing monthly Michigan AI infrastructure progress reports to provide investors with more visibility into the development of the Michigan campus.
The first progress report is expected to be issued in July 2026.
The monthly reports are expected to include updates on the balance of the Michigan reserve account, capital deployed during the reporting period, construction progress, and other significant development milestones related to the campus.
Hyperscale Data said the dedicated reserve account is intended to finance infrastructure improvements, construction, electrical distribution systems, cooling infrastructure, networking equipment, and other capital expenditures directly tied to the Michigan campus.
The company also said the reserve account will support upgrades needed to provide services under its previously announced master services agreement with a California-based neocloud provider.
Under that master services agreement, the customer has already provided deposits and non-recurring charges totaling approximately $10.6 million.
Hyperscale Data has also begun allocating additional capital from its at-the-market offering to the Michigan reserve account. The company said the vast majority of these amounts have been and will continue to be allocated to supporting the buildout of the Michigan campus.
As of June 24, 2026, Hyperscale Data held approximately $94.8 million of cash, restricted cash, Bitcoin, and silver on its balance sheet.
The company expects the principal source of proceeds deposited into the Michigan reserve account will come from its at-the-market offering.
Hyperscale Data said it has identified other potential sources of capital if needed, but noted that those sources do not provide capital at the same relatively low cost as the at-the-market program and could increase debt obligations.
The Michigan campus is tied to a master services agreement with an initial 10-year term and two five-year extension options that may be exercised by the customer.
The agreement initially covers approximately 20 megawatts of critical AI compute capacity.
If exercised for the maximum term, the agreement is expected to generate more than $1.2 billion in revenue.
The agreement also gives the customer the right to an additional 32 megawatts of critical AI compute capacity. If that additional capacity is exercised within the first two years of the initial term and continues through the two five-year extension options, total contract revenue would be expected to exceed $3 billion.
Hyperscale Data is an AI data center company anchored by Bitcoin. Through its wholly owned subsidiary Sentinum, the company owns and operates a data center where it mines digital assets and offers colocation and hosting services for AI ecosystems and other industries.
Hyperscale Data’s other wholly owned subsidiary, Ault Capital Group, is a diversified holding company focused on acquiring undervalued businesses and disruptive technologies.
The company currently expects the divestiture of Ault Capital Group to occur in the second quarter of 2027. After the divestiture, Hyperscale Data expects to be an owner and operator of data centers supporting high-performance computing services and a holder of digital assets.
KEY QUOTES:
“The Michigan Campus represents the most significant growth initiatives in our Company’s history, and we believe investors deserve meaningful transparency into how we are funding and executing its development. By establishing the Michigan Reserve Account and providing monthly infrastructure progress reports, we are creating a consistent and straightforward way for stockholders to monitor both the capital being committed to the Michigan Campus and the progress we are making each month.”
“We expect the Michigan Reserve Account to continue growing over time as we allocate additional capital to support infrastructure development. Our objective is to provide investors with regular, measurable updates as we continue building what we believe will become one of North America’s premier AI infrastructure campuses.”
Milton “Todd” Ault III, Executive Chairman of Hyperscale Data
