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LAS VEGAS - Hyperscale Data, Inc. (NYSE American:GPUS) announced Wednesday it has ordered 1,000 Bitmain Antminer S21+ miners for its Michigan data center, with installation potentially beginning as early as Monday. The company, currently trading at $0.63 per share, faces significant financial challenges according to InvestingPro analysis, with a debt-to-equity ratio of 20.7x and a concerning current ratio of 0.31.
The new equipment represents the first phase of the company’s planned 20-megawatt upgrade that would eventually involve approximately 5,000 S21+ miners. The deployment will occur in 4-megawatt phases to minimize disruption to existing operations.
The S21+ miners deliver up to 235 terahashes per second, approximately 135% faster than the older S19J Pro miners they will replace, according to the company.
"We remain committed to running an artificial intelligence data center and Bitcoin mining operation side-by-side at our Michigan Facility," said Milton "Todd" Ault III, Executive Chairman of Hyperscale Data.
The company stated it plans to continue holding all Bitcoin earned from mining operations on its balance sheet as part of its digital asset treasury strategy. Hyperscale Data also indicated it will supplement mining operations with open market Bitcoin acquisitions as it works toward a $100 million Bitcoin treasury goal. However, InvestingPro data reveals the company is quickly burning through cash, with negative free cash flow of -$17 million in the last twelve months and an EBITDA of -$11.5 million.
Hyperscale Data operates through its wholly owned subsidiary Sentinum, Inc., which mines digital assets and offers colocation and hosting services. The company is proceeding with plans to divest its other subsidiary, Ault Capital Group, in the second quarter of 2026.
The announcement was made in a press release statement from the company.
In other recent news, Hyperscale Data, Inc. announced a significant increase in its Bitcoin treasury, which now stands at approximately $41 million, representing 44% of the company’s market capitalization. The company’s subsidiary, Sentinum, holds around 90.6144 Bitcoin as of October 5, with a market value of $11.2 million, marking a 312% increase from the previous week’s holdings. Additionally, Hyperscale Data continues its commitment to shareholders by paying its 39th consecutive monthly cash dividend for its 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock. The company also reported that its Bitcoin treasury, including future purchase allocations, reached approximately $24.2 million as of September 28, accounting for 41.4% of its market cap at that time. In a strategic move, Hyperscale Data is upgrading its Bitcoin mining equipment with Bitmain Antminer S21+ miners, boosting processing speed by 135% compared to its older models. This upgrade is part of a broader strategy to enhance operations at its Michigan facility and develop artificial intelligence infrastructure. These developments highlight Hyperscale Data’s ongoing efforts to optimize its operations and bolster its financial position.
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