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BTC Supercomputing shut down all Bitcoin mining machines at its Michigan facility on September 2, 2026, ending cryptocurrency mining at the venue to make room for a new artificial intelligence data center customer. The company said it plans to sell the mining equipment.
The artificial intelligence customer is a California-based cloud service provider whose name has not been disclosed by Supercomputing. The customer had inspected the facility before the mining machine was shut down. Under a ten-year master service agreement, the customer has signed up for 20 MW of computing capacity and has the option of renewing it twice for five years each.
Revenue forecasts depend on renewal options
The agreement could generate more than US$1.2 billion in revenue over a contract period of up to 20 years. If customers exercise the option of an additional 32 MW, that figure will exceed $3 billion. The total capacity of Michigan facilities can reach 340 MW. Supercomputing warned that both forecasts depend on whether customers exercise optional terms and that their plans still require financing and regulatory approval.
Supercomputing has been reducing its Bitcoin reserves to fund the transformation of Michigan facilities. As of July 30, 2026, the company holds approximately 1006 bitcoins. During the week ended August 30, 2026, the company sold approximately 65 bitcoins for $5.1 million, with the proceeds used for development costs of the Michigan facility.
Currently, Supercomputing holds 215 bitcoins worth approximately US$16.7 million. This is a 79% drop from July's data and ranks 84th among listed companies.
Share price fell to a historical low after stock split adjustment
On September 2, 2026, Supercomputing's share price closed at US$0.1984, down about 17% on the day, and once hit a low of US$0.1932 during the session. The closing price was an adjusted record low for stocks listed on the U.S. section of the New York Stock Exchange.
The sell-off occurred after a 1 - 5 reverse stock split that took effect on August 25, 2026, after the company had previously filed relevant documents with the U.S. Securities and Exchange Commission. Its share price continued to fall as the company accelerated its sales of Bitcoin to pay for construction and development costs of its Michigan facility.
