The AI Boom Is Eating Into Crypto Treasuries: Quantum Solutions and Hyperscale Data Sell ETH and BTC to Fund Data Centers

On July 30, two public companies with sizable crypto reserves announced they were selling off part of their digital assets — not to lock in profit, but to fund the construction of AI data centers. Japan's Quantum Solutions is offloading Ethereum, America's Hyperscale Data is offloading Bitcoin, and both chose to do it on the very same day.

Quantum Solutions' board raised the maximum ETH sale authorization from 1,875 to 4,375 coins. On July 30, subsidiary GPT Pals Studio sold another 1,000 ETH at an average price of roughly $1,903 per coin, generating about $1.9 million. The company has now sold 1,904 ETH since June, shrinking its reserve to 4,764.8 ETH — of which 3,050 ETH is already pledged as loan collateral, leaving only 1,714.8 ETH unencumbered. Proceeds are earmarked for the company's AI Infrastructure Data Center (AIDC) business, primarily to buy Nvidia B300 and GB300 chips. Because the sale price was below carrying value, the company will book an accounting loss of roughly ¥17 million — and in the process, lose its title as Japan's largest corporate ETH holder.

Hyperscale Data (NYSE American: GPUS, formerly Ault Alliance) took a similar but not identical path. On July 30, the company sold roughly 100 BTC (about $6.5 million) and simultaneously opened a credit line collateralized by its remaining Bitcoin holdings — now around 1,006 BTC — at a variable rate of roughly 4.5% to 5%. The funds will go toward construction and equipment at an AI campus in Michigan: an initial phase of about 20 MW of capacity, with room to add another 32 MW within two years. The project is tied to a Master Services Agreement with a 10-year term plus two optional 5-year extensions — if fully exercised, revenue could exceed $1.2 billion, or as much as $3 billion with the full campus expansion. The market reacted positively: GPUS shares gained more than 5% during trading.

“The vast majority are trying to switch gears or are dead or dying.”

— Toufic Adlouni, managing partner, Renno & Co

Both cases are part of a broader trend: according to Bloomberg, at least a dozen public companies that previously bet on the "digital asset treasury" (DAT) model — holding Bitcoin, Ethereum, or XRP on the balance sheet as their core asset — have pivoted toward AI infrastructure in recent months as token prices and their own share prices declined. A similar move was already made by Empery Digital, which put $20 million into AI data centers, though an AI pivot doesn't always rescue the stock: shares of K Wave Media fell 71% after its May AI pivot, and Alpha Compute is down roughly a third since rebranding toward GPU services, crypto.news reports. More detail on Hyperscale Data's Michigan deal is also available via crypto.news.

This article is for informational purposes only and does not constitute investment advice.