Crypto Treasury turns to AI data center financing

Quantum Solutions and Hyperscale Data Companies respectively transfer part of their cryptographic asset reserves to AI data centers

On July 30, Quantum Solutions and Hyperscale Data respectively reconfigured part of their cryptographic asset reserves to support the construction of artificial intelligence data centers.

Summary

Quantum Solutions sells 1000 Ethereum units, raising US$1.9 million for its Japan AI data center expansion plan. Ultrascale Data Corporation cashed in about 100 bitcoins and established a line of credit backed by bitcoins for construction in Michigan. The sales limit for Quantum Solutions has been raised to 4375 Ethereum units, which means that the company can sell up to 2471 more Ethereum units by October.

Tokyo-listed Quantum Solutions sold 1000 Ethereum units for US$1.903 million, while the U.S. -listed Ultrascale Data Company cashed in about 100 bitcoins and established a line of credit backed by bitcoins. The two deals demonstrate two different ways to use digital assets as working capital: Quantum solutions directly convert Ethereum into cash, and Ultrascale Data Corporation combines Bitcoin sales and mortgages for its Michigan AI data center financing.

Quantum solutions transform Ethereum into AI data center funding

GPT Pals Studio, a subsidiary of Quantum Solutions, sold 1000 Ethereum units for $1903 each, earning a net gain of $1.903 million after transaction fees. As the selling price is lower than the book value of US$2,003.97 per piece on May 31, the company expects to record a loss of US$100,970 (approximately 17 million yen). The accounting loss is not based on the original purchase price.

Prior to this July transaction, the company had sold 904 Ethereum units on June 16, earning approximately US$1.61 million. The two sales raised a total of approximately US$3.51 million, reducing Quantum Solutions 'Ethereum holdings from 6,668.8 to 4,764.8, a decrease of approximately 28.6%.

Quantum Solutions increased its cumulative sales cap from 1875 Ethereum units to 4375 units as of October 30. As a result, the company could theoretically sell another 2471 Ethereum units. However, its filing states that raising the cap "does not constitute a decision to sell the entire quantity immediately." Future transactions will depend on Ethereum prices, funding needs and the progress of the AI infrastructure data center business.

Most of the remaining Ethereums of Quantum Solutions have been pledged

Of the remaining 4,764.8 Ethereums of Quantum Solutions, 3050 are pledged to a Singapore financial services company as collateral, and the other 1,714.8 are still stored in GPT Pals 'crypto trading accounts. The company has not publicly disclosed the identity of the lender.

The unused selling authorization line is 756.2 Ethereum more than the trading account balance freely held by Quantum Solutions. Therefore, selling the entire authorization line seems to require releasing or replacing some collateral, purchasing additional Ethereum, or making other arrangements. Quantum Solutions has not announced any related plans.

The sale also changed the ranking of quantum solutions among Japanese company Ethereum owners. According to Def Consulting, as of June 30, it held 4976 Ethereum units, 211.2 units more than the balance after the sale of Quantum Solutions. According to the latest disclosures from the two companies, Quantum Solutions appears to be no longer the largest holder of listed Ethereum in Japan, although the balance reporting dates for both parties are different.

As previously reported, after Quantum Solutions quickly accumulated Ethereum in October 2025, it once became the largest Ethereum reserve company outside the United States. Its latest sale marks a shift from reserve expansion to business financing.

In addition, Quantum Solutions said the proceeds from the sale will be used for data center contracts, GPU equipment and preparations for its AI data center business. In June, the company signed a memorandum of understanding with Hong Kong-based Integrated Capital to explore the possibility of providing financing and resource cooperation for Japan's AI data centers. The proposed infrastructure will focus on NVIDIA B300 and GB300 GPU based systems. However, the memorandum is not legally binding. Quantum Solutions said,"The specific investment amount, financing conditions and implementation time have not yet been determined." Therefore, the sale of Ethereum provides funding flexibility, but does not mean that a complete data center investment agreement has been reached.

Hyperscale Data Corporation realises 100 bitcoins for the Michigan project

Hyperscale Data Corporation separately announced that it has realized approximately 100 bitcoins and invested the proceeds into its Michigan AI Data Center Park. The company has also established a credit line backed by Bitcoin with an expected floating interest rate of 4.5% to 5%. The announcement did not disclose lenders, borrowing limits, maturity dates, pledge ratios or the amount of bitcoins pledged. As of July 27, Ultrascale Data reported holding 1,106.0467 bitcoins worth approximately US$71.7 million. After deducting the sold portion, approximately 1006 bitcoins remain, but this figure is an estimate because the company has not disclosed the exact balance after the transaction.

Hyperscale data companies are building capacity for a cloud service provider under a final master service agreement. The initial deployment size is approximately 20 megawatts and will last for 10 years, with two five-year renewal options. The company estimates that it could generate more than $1.2 billion in revenue over the longest period. The customer also has the right to add an additional 32 MW of capacity. Hyperscale Data said that if both capacity and renewal options are exercised, total revenue from the expanded contract is expected to exceed $3 billion. These amounts are conditional forecasts and are not realized revenue.

Crypto asset reserves become operational financing tools

These announcements show that digital asset reserves are shifting from passive holding to active use. Quantum Solutions sells Ethereum to fund projects that are still in their early stages; ultra-large data companies sell Bitcoin while using it as collateral to support the construction of data centers that have signed customer agreements.

This model is spreading among crypto-related infrastructure companies. Related reports show that Core Scientific sold 2385 bitcoins in the first quarter for AI capital expenditures. In addition, according to surveys, listed mining companies have announced that they have received more than US$70 billion in AI and high-performance computing contracts, while also covering development costs by selling Bitcoin.

The next deadline for Quantum Solutions is October 30, when its expanded Ethereum sale authorization expires. The company promises to disclose any additional sales and expects to recognize a loss of 17 million yen in the second quarter. Ultrascale Data said it will release further construction, financing and operational updates. Investors will pay close attention to the full terms of the credit line, updated bitcoin balances, and evidence that Michigan's planned capacity can be delivered on time.