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Key Takeaways
- Quantum sold 1,000 ETH at 47% below its average cost to fund AI data centers.
- Hyperscale sold about 100 BTC and opened a Bitcoin backed credit line for its Michigan AI campus.
- Both companies are shifting crypto treasury assets into AI and computing infrastructure.
Tokyo-listed Quantum Solutions sold 1,000 ETH for $1.9 million on July 30 and more than doubled its disposal ceiling, redirecting proceeds to an AI data center business.
The same day, NYSE American-listed Hyperscale Data monetized roughly 100 BTC and opened a Bitcoin-backed credit facility to fund a Michigan AI campus.
Quantum Sells 1,000 ETH at 47% Below Its Average Cost
Quantum executed the sale through its Hong Kong subsidiary GPT Pals Studio at an average price of $1,903 per token, generating $1.903 million after fees.
The company expects to recognize a loss of about $100,970, or roughly 17 million yen, against a May 31 carrying value of $2,003.97 per ETH. The charge falls in the second quarter of its fiscal year ending February 2027.
The sale price sat 47% below the $3,595.02 average acquisition cost Quantum reported in June. The company had bought more than 2,000 ETH in October 2025 and built holdings to 6,668.8 ETH by early June 2026.
This was the second disposal in six weeks. GPT Pals sold 904 ETH on June 16 at $1,777.07 per token for about $1.606 million. The two sales raised roughly $3.51 million combined and cut holdings 29% to 4,764.8 ETH.
Quantum Raises ETH Sale Ceiling to 4,375 Through October
Quantum’s board increased the cumulative sale limit from 1,875 ETH to 4,375 ETH, running through October 30, leaving the company authorized to sell another 2,471 tokens. Using the full allowance would mean disposing of nearly 66% of the holdings it reported in June. The filing states the increase does not constitute a decision to immediately sell the entire authorized amount.
Collateral commitments limit how much of Quantum’s remaining ETH can actually be converted to cash. Of the 4,764.8 ETH left, 3,050 tokens are pledged to an unnamed Singapore financial services firm, leaving 1,714.8 ETH in a trading account.
Based on the latest disclosed holdings, the reduction appears to have cost Quantum its standing as Japan’s largest listed ETH holder. Def Consulting reported holding 4,976 ETH as of June 30.
Proceeds are earmarked for data center deposits, Nvidia B300 and GB300 GPU systems, networking equipment, and working capital for the AI data center project.
Quantum signed a nonbinding memorandum of understanding with Hong Kong-based Integrated Capital on June 1 to explore a Japanese data center, though no investment amount, financing terms or timetable has been disclosed.
Hyperscale Sells 100 BTC and Opens Bitcoin-Backed Credit Line
Hyperscale Data sold approximately 100 BTC, worth around $6.5 million based on Bitcoin prices at the time, and established a Bitcoin-backed credit facility carrying an expected variable rate of 4.5% to 5%. The company held 1,106.0467 BTC valued at roughly $71.7 million as of July 27 and retains more than 1,000 BTC as the collateral base for the new facility.
Both companies are running a version of the same trade: converting liquid treasury assets into physical compute infrastructure. Quantum is doing so at a loss against its reported ETH cost basis, while Hyperscale is combining a partial BTC sale with borrowing against what remains.
CEO William Horne framed the transaction as an asset swap rather than an exit.
“By selectively monetizing and financing against a portion of our Bitcoin holdings, we are shifting one balance sheet asset for another.”
Executive Chairman Milton “Todd” Ault III said Bitcoin monetization and Bitcoin-backed borrowing were more attractive than issuing additional equity at current valuations.
Hyperscale Converts Michigan Mining Site to 20 MW of AI Compute
The proceeds fund construction, critical infrastructure and long-lead equipment at Hyperscale’s Michigan campus, which previously ran about 28 MW of Bitcoin mining capacity. The site now operates under a 10-year master services agreement signed June 24 with an unnamed California-based neo-cloud AI provider, covering an initial 20 MW of compute capacity.
Contract revenue could exceed $1.2 billion over the initial term and rise above $3 billion if the customer exercises extension rights and adds another 32 MW of capacity. Initial deployment costs are estimated between $100 million and $120 million.
Hyperscale expects to divest Ault Capital Group in the second quarter of 2027 and focus on data centers, high-performance computing services and digital assets.
