Hyperscale Data has cut the maximum size of its current at-the-market stock offering by $200 million as it continues funding its Michigan AI data-center buildout.

According to the company’s October 12 announcement, the ATM sales ceiling was reduced from $300 million to $100 million, including shares already sold. Hyperscale Data says it has sold 121,827,841 Class A shares for about $49.8 million in gross proceeds, or roughly $0.41 per share.

Data Center Dynamics highlights the scale of hyperscale power development underway in Michigan, the same state where Hyperscale Data is funding its AI buildout.

CEO Will Horne said the additional $200 million of ATM capacity is not currently needed. The company still plans to build the Michigan site around an initial 20 MW of critical compute capacity and says preliminary estimates support $100 million to $150 million of project debt financing. StockTitan’s filing summary notes the same figures.

The move follows BitcoinVersus coverage of Hyperscale Data’s cash and Bitcoin position, its decision to shut off Michigan Bitcoin miners for AI, and plans for Patriot BTC.

Editor’s Note: Reducing ATM capacity limits potential future issuance under this agreement; it does not reverse dilution from shares already sold.

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