Hyperscale Data Sets $750 Million Floor for Michigan AI Campus Sale

Management suggests the Michigan facility could command a valuation as high as $1.25 billion, driven by a long-term master services agreement with a California-based neocloud provider. That contract covers an initial 20-megawatt deployment, with options to expand to 52 megawatts. Over a 20-year horizon, these commitments could generate upwards of $3 billion in revenue, according to company projections.

Milton "Todd" Ault III, the company's executive chairman and largest shareholder, emphasized that the current public market valuation fails to capture the strategic importance of the site’s power access and existing compute capacity. The board is currently weighing several paths to unlock this capital, including a direct sale, a potential initial public offering for its subsidiary Sentinum, or retaining the asset for further development. While no definitive decision has been reached, the firm has made it clear that any divestiture would need to clear the $750 million threshold to warrant board approval.