Hyperscale Data Reveals $53m in Cash and Bitcoin Holdings
Hyperscale Data has disclosed its holdings of $53 million in cash and Bitcoin. The company's combined cash, restricted cash, and Bitcoin holdings totalled approximately $53 million as of September 3, based on a Bitcoin price of around $81,500.
According to the press release statement, this amount represents nearly 200% of Hyperscale Data's equity market capitalization at that time. Executive Chairman Milton 'Todd' Ault III revealed that the company had sold a portion of its Bitcoin holdings and used the proceeds to support the buildout of its Michigan AI data center.
The facility is being prepared for a master services agreement with a California-based neocloud provider, which will deploy 20 megawatts. The initial term of this agreement is 10 years, with two five-year extension options. If both are exercised, the company expects to generate more than $1.2 billion in revenue over the maximum 20-year term.