Hyperscale Data, Inc. (GPUS) is having a good Wednesday. The stock shot up more than 20% in premarket trading after the company announced a massive AI compute deal for its Michigan data center campus.

This comes after a rough Tuesday, when shares fell about 10% to close at $0.2557. But Wednesday's news turned things around quickly.

The Neocloud Agreement

Hyperscale Data's subsidiary, Alliance Cloud Services, signed a Master Services Agreement with a California-based neocloud provider. The deal covers colocation and data center services, specifically 20 megawatts of AI compute capacity that's expected to go live in the fourth quarter of 2026. There's also an option to expand to 52 megawatts.

Financially, this is a big deal. Hyperscale Data expects the agreement to generate more than $1.2 billion over its full term. If the customer exercises the additional 32-megawatt option and extensions, total revenue could exceed $3.0 billion. That's a lot of zeros.

Michigan Campus Transformation

Alliance Cloud Services is already procuring key equipment and retrofitting about 60,000 square feet at the Michigan campus. The initial 20-megawatt deployment is expected to cost between $100 million and $120 million.

Longer term, the Michigan campus could support more than 300 megawatts, though that depends on approvals, financing, and infrastructure availability. CEO William B. Horne said the company is evolving the campus from a Bitcoin mining-focused facility into an AI and high-performance computing hub.

"We believe our Michigan Campus is positioned to offer a top-tier AI compute environment, and these Services are expected to begin generating material, high-margin revenue upon deployment, which may begin as soon as late September 2026," Horne said.

Bitcoin Treasury

Hyperscale Data also provided an update on its Bitcoin holdings. As of June 21, 2026, the company held 726.9425 Bitcoin. With Bitcoin closing at $63,238 that day, the stash was worth about $45.9 million.

As for the stock, Hyperscale Data shares were up 20.81% at $0.3089 during premarket trading on Wednesday.