Hyperscale Data's Cash and Bitcoin Holdings Soar to Nearly 200% of Market Capitalization
Hyperscale Data, Inc., a Nevada-based company, has reported significant holdings of cash and Bitcoin. As of September 3, the company held approximately $36 million in cash and restricted cash, along with 215 Bitcoins, valued at around $81,500 each.
This totals to about $53 million in combined assets, representing nearly 200% of the company's equity market capitalization at that time. According to Executive Chairman Milton 'Todd' Ault III, the company sold a portion of its Bitcoin holdings and used the proceeds to support the construction of its Michigan AI data center.
The data center is being built under a master services agreement with a California-based neocloud provider, which provides for the deployment of 20 megawatts. The agreement has an initial term of 10 years, with two five-year extension options. If both extensions are exercised, Hyperscale Data expects to generate over $1.2 billion in revenue over the maximum 20-year term.