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Hyperscale Data plans to separate Bitcoin mining operations into a newly formed subsidiary, Patriot BTC.
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The company said on Tuesday that the split will clarify the valuation of mining and AI businesses.
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Michigan AI data center could generate over $3 billion if it meets customer expansion targets.
Shares of Hyperscale Data (GPUS) slipped in morning trade on Tuesday, even as Bitcoin (BTC) rallied after company announced that it planned to separate its Bitcoin mining business from AI.
Hyperscale Data announced that it was taking steps to form Patriot BTC, a new subsidiary to hold its mining operations. The company intended to move its Montana data center, Bitcoin miners, and mining equipment into the new unit, and explained that the split was meant to separate its Bitcoin mining from its Michigan AI data center strategy. Each business had different needs, and the move ought to give investors a clearer view of both, the company said.
GPUS stock fell more than 5% in morning trading. On Stocktwits, retail sentiment around GPUS moved from the 'bullish' to 'neutral' zone, while chatter around it stayed at 'low' levels over the past day.
Bitcoin, meanwhile, hit an eight-month high tr...