GPUS Spinoff: Hyperscale Data Creates Separate Bitcoin Mining Subsidiary

Hyperscale Data Inc., owner of the AMEX ticker GPUS, has announced plans to spin off its Bitcoin mining operations into a separate subsidiary called Patriot BTC. The move would isolate the company's digital asset business from its existing data centers in Michigan and Montana.

The decision aims to give the Bitcoin mining sector a distinct identity and focus, according to Hyperscale Executive Chair Milton Ault.

In related news, the company has invested over $70 million in Alliance Cloud Services and its Michigan facility. The project targets an initial 20 MW under a 10-year agreement, with options to expand to 52 MW by adding another 32 MW.

GPUS shares have been trading near their 52-week low of 17 cents and are down 91.36% over the past year. Technical indicators suggest oversold conditions, with an RSI reading of 21.68.