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Cartis diligence evidence schedule

Hyperscale Data Michigan AI Data Center Campus

PRJ-0710 · Site · Michigan, United States

Record last updated Oct 28, 2026

Scope and capacity

Hyperscale Data announced on September 2, 2026 that all Bitcoin miners at its Michigan facility had been turned off effective September 1 to prepare for the AI customer transition. Cessation of mining does not itself establish that AI services have started. Hyperscale Data is converting and expanding its Dowagiac, Michigan campus for AI colocation. A definitive services agreement covers 20 MW of critical IT load, while a further 32 MW is optional and the 340 MW figure remains a long-range site concept. Hyperscale Data is associated with the development in Michigan location undisclosed, MI, US. The disclosed development scope includes 20 MW contracted critical IT; phased deployment targeted by year-end 2026; 32 MW optional expansion; 340 MW long-term site potential. Power and physical infrastructure include an existing dual-fed utility substation and approximately 30 MW of energized site power support the first phases. A definitive services agreement covers 20 MW of critical IT load.

Headline: 20 MW Contracted

Numbers refer to their stated physical boundaries and are not added together. Source dates, claim dates and record updates have different meanings. Missing dates and locators are not inferred.

Location context · Hyperscale Data campus | Michigan | precise boundary undisclosed

Actual · Hyperscale Data Michigan AI Data Center Campus (Project)

Claim 57980 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Hyperscale Data targets 340 MW Michigan campus buildout

    Hyperscale Data · Document date: Jul 22, 2025 · Primary

    Source reference: SRC-3174 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.prnewswire.com/news-releases/hyperscale-data-targets-full-buildout-of-340-mw-michigan-ai-data-center-campus-in-2029-302509243.html

Lifecycle status · Partially operational

Actual · Hyperscale Data Michigan AI Data Center Campus (Project)

Claim 57981 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Hyperscale Data targets 340 MW Michigan campus buildout

    Hyperscale Data · Document date: Jul 22, 2025 · Primary

    Source reference: SRC-3174 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.prnewswire.com/news-releases/hyperscale-data-targets-full-buildout-of-340-mw-michigan-ai-data-center-campus-in-2029-302509243.html

Reported capacity · 340 MW

Planned / design or future potential · Hyperscale Data Michigan AI Data Center Campus (Project)

Claim 57982 · Recorded claim type: Design · Review: Approved · Claim date: Not stated

Headline treatment: Separate claim, not added to the headline

  1. Hyperscale Data targets 340 MW Michigan campus buildout

    Hyperscale Data · Document date: Jul 22, 2025 · Primary

    Source reference: SRC-3174 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.prnewswire.com/news-releases/hyperscale-data-targets-full-buildout-of-340-mw-michigan-ai-data-center-campus-in-2029-302509243.html

Capacity basis · Hyperscale Data targets a 340 MW full buildout by 2029.

Actual · Hyperscale Data Michigan AI Data Center Campus (Project)

Claim 57983 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Hyperscale Data targets 340 MW Michigan campus buildout

    Hyperscale Data · Document date: Jul 22, 2025 · Primary

    Source reference: SRC-3174 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.prnewswire.com/news-releases/hyperscale-data-targets-full-buildout-of-340-mw-michigan-ai-data-center-campus-in-2029-302509243.html

Location context · Hyperscale Data campus | Michigan | precise boundary undisclosed

Actual · Hyperscale Data Michigan AI Data Center Campus (Project)

Claim 111447 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Hyperscale Data targets 340 MW Michigan campus buildout

    Hyperscale Data · Document date: Jul 22, 2025 · Primary

    Source reference: SRC-3174 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.prnewswire.com/news-releases/hyperscale-data-targets-full-buildout-of-340-mw-michigan-ai-data-center-campus-in-2029-302509243.html

Lifecycle status · Partially operational

Actual · Hyperscale Data Michigan AI Data Center Campus (Project)

Claim 111448 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Hyperscale Data targets 340 MW Michigan campus buildout

    Hyperscale Data · Document date: Jul 22, 2025 · Primary

    Source reference: SRC-3174 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.prnewswire.com/news-releases/hyperscale-data-targets-full-buildout-of-340-mw-michigan-ai-data-center-campus-in-2029-302509243.html

Reported capacity · 20 MW

Actual · Hyperscale Data Michigan AI Data Center Campus (Project)

Claim 111449 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

Headline treatment: Selected headline

  1. Hyperscale Data targets 340 MW Michigan campus buildout

    Hyperscale Data · Document date: Jul 22, 2025 · Primary

    Source reference: SRC-3174 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.prnewswire.com/news-releases/hyperscale-data-targets-full-buildout-of-340-mw-michigan-ai-data-center-campus-in-2029-302509243.html

Capacity basis · A definitive services agreement covers 20 MW of critical IT load.

Actual · Hyperscale Data Michigan AI Data Center Campus (Project)

Claim 111450 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Hyperscale Data targets 340 MW Michigan campus buildout

    Hyperscale Data · Document date: Jul 22, 2025 · Primary

    Source reference: SRC-3174 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.prnewswire.com/news-releases/hyperscale-data-targets-full-buildout-of-340-mw-michigan-ai-data-center-campus-in-2029-302509243.html

Development scale · 20 MW contracted critical IT

Actual · Hyperscale Data Michigan AI Data Center Campus (Project)

Claim 111467 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Michigan AI services agreement Form 8-K

    Hyperscale Data · Document date: Jun 23, 2026 · Corroborating

    Source reference: SRC-6255 · Regulatory record · Recorded authority: Official primary

    Source URL

    https://www.sec.gov/Archives/edgar/data/896493/000121465926007704/x6242618k.htm

  2. Hyperscale Data targets 340 MW Michigan campus buildout

    Hyperscale Data · Document date: Jul 22, 2025 · Primary

    Source reference: SRC-3174 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.prnewswire.com/news-releases/hyperscale-data-targets-full-buildout-of-340-mw-michigan-ai-data-center-campus-in-2029-302509243.html

Development milestone · Phased deployment targeted by year end 2026

Actual · Hyperscale Data Michigan AI Data Center Campus (Project)

Claim 111468 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Michigan AI services agreement Form 8-K

    Hyperscale Data · Document date: Jun 23, 2026 · Corroborating

    Source reference: SRC-6255 · Regulatory record · Recorded authority: Official primary

    Source URL

    https://www.sec.gov/Archives/edgar/data/896493/000121465926007704/x6242618k.htm

  2. Hyperscale Data targets 340 MW Michigan campus buildout

    Hyperscale Data · Document date: Jul 22, 2025 · Primary

    Source reference: SRC-3174 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.prnewswire.com/news-releases/hyperscale-data-targets-full-buildout-of-340-mw-michigan-ai-data-center-campus-in-2029-302509243.html

Power arrangement · 32 MW optional expansion

Actual · Hyperscale Data Michigan AI Data Center Campus (Project)

Claim 111469 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Michigan AI services agreement Form 8-K

    Hyperscale Data · Document date: Jun 23, 2026 · Corroborating

    Source reference: SRC-6255 · Regulatory record · Recorded authority: Official primary

    Source URL

    https://www.sec.gov/Archives/edgar/data/896493/000121465926007704/x6242618k.htm

  2. Hyperscale Data targets 340 MW Michigan campus buildout

    Hyperscale Data · Document date: Jul 22, 2025 · Primary

    Source reference: SRC-3174 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.prnewswire.com/news-releases/hyperscale-data-targets-full-buildout-of-340-mw-michigan-ai-data-center-campus-in-2029-302509243.html

Site configuration · 340 MW long term site potential.

Actual · Hyperscale Data Michigan AI Data Center Campus (Project)

Claim 111470 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Michigan AI services agreement Form 8-K

    Hyperscale Data · Document date: Jun 23, 2026 · Corroborating

    Source reference: SRC-6255 · Regulatory record · Recorded authority: Official primary

    Source URL

    https://www.sec.gov/Archives/edgar/data/896493/000121465926007704/x6242618k.htm

  2. Hyperscale Data targets 340 MW Michigan campus buildout

    Hyperscale Data · Document date: Jul 22, 2025 · Primary

    Source reference: SRC-3174 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.prnewswire.com/news-releases/hyperscale-data-targets-full-buildout-of-340-mw-michigan-ai-data-center-campus-in-2029-302509243.html

Counterparties and capital

Hyperscale Data · Operator · CMP-1451

This schedule captures public Cartis research. It is not a title, lien or legal-opinion report. Document page/section locators and claim review timestamps are included only when published; this version has no separate locator or claim-review-time feed.