US stock futures inch lower after Wall St marks fresh records on tech gains
Investing.com -- Hyperscale Data, Inc. (NYSE American:GPUS) stock soared 94% premarket following the company’s announcement of a $100 million Bitcoin treasury strategy as part of its transformation into a pure play artificial intelligence data center and digital asset company.
The initiative will be funded partly by proceeds from the sale of the company’s Montana data center assets and capital raised through its previously announced at-the-market equity program. Simultaneously, Hyperscale Data is accelerating the expansion of its flagship Michigan campus, where customer-installed NVIDIA GPU servers are enabling advanced AI and high-performance computing workloads.
Through its wholly owned subsidiary Sentinum, Inc., the company has been mining Bitcoin for years, providing operational expertise in digital assets. Hyperscale Data now plans to hold Bitcoin as a primary treasury reserve asset, similar to the approach used by MicroStrategy, while continuing to invest in its Michigan infrastructure.
"This marks a pivotal moment in Hyperscale Data’s evolution," said William B. Horne, Chief Executive Officer of Hyperscale Data. "With the Michigan campus positioned to become an extremely valuable asset over time, and with Bitcoin now serving as a core treasury reserve, we are building a company anchored in two of the most dynamic forces of our era: artificial intelligence and digital assets."
The Michigan facility currently provides approximately 30 MW of power capacity and is undergoing a staged build-out expected to reach 70 MW over the next 20 months. Subject to agreements with local utility providers and regulatory approvals, the company anticipates the Michigan campus could eventually expand to approximately 340 MW of capacity.
As part of its treasury program, Hyperscale Data will continue publishing its crypto asset holdings weekly to maintain transparency and accountability.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.