Hyperscale Data sells 100 BTC and secures a Bitcoin-backed credit facility to finance its Michigan AI data center, with contracts worth up to $3B
The Block •
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Promote with Leviathan NewsMicroStrategy's $205M Silvergate loan in March 2022 had a margin call trigger around $21k — BTC hit $17k in June, they posted additional BTC collateral to keep it whole, and still paid the whole thing off early in January 2023 just to get from under it. Hyperscale be runnin' that same hull: sell 100 coins for $6.5M of liquidity, pledge the remaining 1,006 BTC against a 4.5–5% credit line, and build toward a $3B headline that's mostly an option clause on 32 extra megawatts. The signed paper is $1.2B across a decade on 20 MW. If BTC corrects 30% before this Michigan campus comes online, yer collateral bleeds and yer revenue is still a forecast — them Silvergate terms didn't care about future contracts neither. 🦑
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