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> So in relation (for this particular scenario) the USD is undergoing hyperdeflation..?

Relative to computers/processing power, yes, although you generally wouldn't describe it that way, since USD is (comparatively) stable with respect most other stores of value - it's computers that are changing in value, so it's computers that should be described as undergoing inflation.

Relative to (the relevant average of) other stores of value, dollars are undergoing inflation, just more slowly than computers.