Hyperscale Data Bitcoin Treasury at 514.9655 Bitcoin and Exceeds 100% of Market Capitalization

Rhea-AI Summary

Hyperscale Data (NYSE: GPUS) reported a Bitcoin treasury of approximately 514.9655 BTC held by subsidiary Sentinum and $30.5 million of cash allocated to future Bitcoin purchases, totaling about $76 million as of Dec 21, 2025 (Bitcoin close $88,621). The company said this amount equals ~100.75% of its market capitalization based on Dec 22, 2025 close.

Hyperscale Data targets a $100 million digital asset treasury, will dollar-cost-average weekly purchases, and will publish weekly Bitcoin holdings and purchases starting next Tuesday.

Positive

• Bitcoin holdings of 514.9655 BTC as of Dec 21, 2025
• Bitcoin treasury and allocated cash totaling $76M (~100.75% of market cap)
• Allocated $30.5M cash committed for open-market Bitcoin purchases
• Weekly public reporting of Bitcoin holdings and weekly purchases beginning next Tuesday

Negative

• Market capitalization trades at a deep discount to estimated net book value per share ($0.52)
• Bitcoin market value exposure concentrated ($45.5M in BTC holdings) creating price-volatility risk
• Company will not provide regular public updates on cash and restricted cash balances

Key Figures

Cash & restricted cash $50 million Held as of December 19, 2025

Cash for BTC purchases $30.5 million Allocated for future Bitcoin buys under DAT strategy

Bitcoin treasury value $76 million BTC holdings plus allocated cash as of Dec 21, 2025

Treasury vs market cap 100.75% Bitcoin treasury relative to market cap as of Dec 22, 2025 close

DAT strategy target $100 million Long-term digital asset treasury goal

Net book value per share $0.52 Estimated, recently reported by company

Gross asset value per share $1.16 Estimated total asset value per share

Bitcoin holdings 514.9655 BTC Held by Sentinum as of December 21, 2025

Market Reality Check

$0.2275 Last Close

Volume Volume 25,393,009 is modestly above the 20-day average of 23,865,182, suggesting only slightly elevated trading activity pre-announcement. normal

Technical Shares at 0.2337 were trading well below the 200-day MA of 1.66, reflecting a weak longer-term trend ahead of this update.

Peers on Argus 1 Down

GPUS was down 9.1% while peers showed mixed moves, with names like SIDU up 17.48% and KITT down 8.14%, indicating stock-specific dynamics rather than a coordinated sector move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 19	ATM equity program	Negative	+1.3%	Announced up to $50M at-the-market common stock offering under existing shelf.
Dec 17	Preferred dividends	Positive	-2.9%	Declared monthly cash dividends on 13% Series D and 10% Series E preferred.
Dec 16	Crypto treasury update	Positive	+4.7%	Reported DAT of ~$75.5M, ~97.5% of market cap, plus allocated BTC purchase cash.
Dec 15	Asset value update	Neutral	-5.2%	Disclosed preliminary total and net assets per share as of Nov 30, 2025.
Dec 09	Class B share dividend	Positive	+7.2%	Announced special one-time dividend of 20M Class B shares to existing holders.

Pattern Detected

Recent news has produced mixed price reactions, with positive corporate or crypto updates sometimes aligning with gains but capital-raising and asset updates often seeing divergence.

Recent Company History

Over the past month, Hyperscale Data has combined balance sheet transparency, capital raises, and its Bitcoin-focused strategy. On Nov 24 and Nov 25, it highlighted joining the top 100 public Bitcoin treasuries and a roughly $70.5M treasury. Subsequent crypto updates through Dec 16 showed the DAT approaching $75.5M, while a Dec 15 asset report cited net assets of about $0.52 per share. A $50M ATM program on Dec 19 added equity-raise capacity. Today’s news continues this DAT progression beyond 100% of market cap.

Regulatory & Risk Context

Active S-3 Shelf Registration 2025-11-17

$1,000,000,000 registered capacity

An effective Form S-3 shelf filed on Nov 17, 2025 authorizes up to $1,000,000,000 of securities, including common and preferred stock, debt, warrants, rights and units. A 424B5 prospectus supplement dated Dec 19, 2025 is already using this shelf for an at-the-market offering of up to $50,000,000 in common stock, with stated intentions to direct a majority of proceeds to Bitcoin purchases and Michigan data facility development.

Market Pulse Summary

This announcement underscored Hyperscale Data’s Bitcoin-centric balance sheet, stating that its Bitcoin treasury and allocated cash totaled about $76 million, or roughly 100.75% of market capitalization. Management reiterated an eventual $100 million digital asset treasury and cited estimated net book value of about $0.52 per share. Context includes a recently launched $50,000,000 ATM under a $1,000,000,000 shelf and steady crypto updates. Investors may watch future DAT disclosures, capital-raising activity, and progress toward the stated profitability update.

Key Terms

restricted cash financial

"Company Held Approximately $50 Million of Cash and Restricted Cash as of December 19, 2025"

Cash that a company holds but cannot use for day-to-day operations because it is set aside for a specific purpose—such as meeting loan covenants, serving as collateral, funding an escrow, or complying with regulations. Like money in a locked savings account earmarked for a bill, restricted cash reduces the cash available to run the business and pay dividends or debts, so investors treat it differently when assessing a company’s true short-term financial strength.

digital asset treasury financial

"long-term goal of accumulating Bitcoin as part of its broader $100 million digital asset treasury ("DAT") strategy"

A digital asset treasury is a collection of digital items like cryptocurrencies or tokens that a company or organization owns and manages. It’s important because it helps them store, protect, and use these digital assets for business needs, investments, or future growth, much like a cash reserve but in digital form.

dollar-cost averaging financial

"our disciplined dollar-cost averaging strategy has meaningfully paid off"

A strategy of investing a fixed dollar amount at regular intervals into the same investment, regardless of its price, which spreads purchases across highs and lows and lowers the risk of mistiming the market. It matters to investors because it encourages disciplined saving, smooths out the average purchase price over time, and reduces emotional decisions — like buying a slice of pizza every week so you don’t try to pick the single cheapest day to shop.

AI-generated analysis. Not financial advice.

Company Held Approximately $50 Million of Cash and Restricted Cash as of December 19, 2025; $30.5 Million of Cash Allocated for Future Purchases of Bitcoin 

LAS VEGAS, Dec. 23, 2025 /PRNewswire/ -- Hyperscale Data, Inc. (NYSE American: GPUS), an artificial intelligence ("AI") data center company anchored by Bitcoin ("Hyperscale Data" or the "Company"), today announced that its Bitcoin treasury, including current holdings and cash allocated to committed purchases of Bitcoin, totaled approximately $76 million, based on the price of Bitcoin as of December 21, 2025. This amount represents approximately 100.75% of the Company's market capitalization, based on the Company's stock price at the close of trading on December 22, 2025. The Company has achieved its goal of having 100% of its market capitalization in Bitcoin and cash allocated for future purchases of Bitcoin and intends to maintain parity with its market capitalization while remaining committed to its long-term goal of accumulating Bitcoin as part of its broader $100 million digital asset treasury ("DAT") strategy. The Company's next goal is to reach $100 million in Bitcoin on its balance sheet.

"We believe that our disciplined dollar-cost averaging strategy has meaningfully paid off, and we intend to continue executing that approach as we build our long-term Bitcoin reserve," stated Milton "Todd" Ault III, Executive Chairman of Hyperscale Data. "We recently reported an estimated net book value of approximately $0.52 per share and an estimated gross total asset value of approximately $1.16 per share. We consider our strategy conservative as we add Bitcoin to our balance sheet and invest in the long-term value of the Michigan AI data center while strategically raising additional capital."

Mr. Ault added, "While we remain focused on execution our DAT, we are disappointed that the Company's market capitalization does not properly reflect the underlying asset values, particularly given the deep discount to our estimated net book value and gross asset value. We anticipate updating stockholders on our sales forecast in mid-January and currently expect 2026 to be a record year in total revenue. We also expect to provide a mid-January update regarding when we anticipate reaching profitability."

The Company's wholly owned subsidiary, Sentinum, Inc. ("Sentinum") held approximately 514.9655 Bitcoin as of December 21, 2025, consisting of 74.7313 Bitcoin generated from mining operations and 440.2341 Bitcoin acquired in the open market (including 11.4473 Bitcoin purchased during the week ended December 21, 2025). Based on the Bitcoin closing price of $88,621 on December 21, 2025, these holdings had an approximate market value of $45.5 million. In addition, Hyperscale Data has allocated $30.5 million of cash for Sentinum to deploy into open-market Bitcoin purchases.

Hyperscale Data will fully deploy the cash allocated to its DAT strategy into Bitcoin purchases over time. While the Company generally targets investing at least 5% of allocated cash each week with daily purchases, the actual amount may vary, with some weeks higher or lower, depending on market conditions and strategic considerations. Investors should evaluate the Company's Bitcoin accumulation based on multi-week averages, as part of its ongoing dollar-cost-averaging strategy.

Beginning next Tuesday and continuing each Tuesday thereafter, Hyperscale Data expects to provide a revised weekly update, disclosing (i) the total amount of Bitcoin owned by the Company and (ii) the amount of Bitcoin purchased during the prior week, providing stockholders with consistent, transparent reporting as the Company advances its DAT strategy. The Company does not intend to provide regular public updates regarding its cash and restricted cash balances but intends to continue reporting on its Bitcoin holdings and weekly Bitcoin purchases as described above.

For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors and any other interested parties read Hyperscale Data's public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

About Hyperscale Data, Inc.

Through its wholly owned subsidiary Sentinum, Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging AI ecosystems and other industries. Hyperscale Data's other wholly owned subsidiary, Ault Capital Group, Inc. ("ACG"), is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact.

Hyperscale Data currently expects the divestiture of ACG (the "Divestiture") to occur in the second quarter of 2026. Upon the occurrence of the Divestiture, the Company would be an owner and operator of data centers to support high-performance computing services, as well as a holder of the digital assets. Until the Divestiture occurs, the Company will continue to provide, through ACG and its wholly and majority-owned subsidiaries and strategic investments, mission-critical products that support a diverse range of industries, including an AI software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, ACG is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data's headquarters are located at 11411 Southern Highlands Parkway, Suite 190, Las Vegas, NV 89141.

On December 23, 2024, the Company issued one million (1,000,000) shares of a newly designated Series F Exchangeable Preferred Stock (the "Series F Preferred Stock") to all common stockholders and holders of the Series C Preferred Stock on an as-converted basis. The Divestiture will occur through the voluntary exchange of the Series F Preferred Stock for shares of Class A Common Stock and Class B Common Stock of ACG (collectively, the "ACG Shares"). The Company reminds its stockholders that only those holders of the Series F Preferred Stock who agree to surrender such shares, and do not properly withdraw such surrender, in the exchange offer through which the Divestiture will occur, will be entitled to receive the ACG Shares and consequently be shareholders of ACG upon the occurrence of the Divestiture.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company's business and financial results are included in the Company's filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company's Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company's website at hyperscaledata.com.

 

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SOURCE Hyperscale Data Inc.

FAQ

How many Bitcoins does Hyperscale Data (GPUS) report holding as of Dec 21, 2025?

Sentinum held 514.9655 BTC as of Dec 21, 2025.

What is Hyperscale Data's total Bitcoin treasury and allocated cash value on Dec 21, 2025?

The company reported approximately $76 million in Bitcoin plus allocated cash, based on the Dec 21, 2025 Bitcoin price.

What percentage of GPUS market capitalization is represented by its Bitcoin treasury as of Dec 22, 2025?

Hyperscale Data said its Bitcoin treasury and allocated cash equal about 100.75% of market capitalization (Dec 22, 2025 close).

How much cash has Hyperscale Data allocated for future Bitcoin purchases?

The company allocated $30.5 million of cash for open-market Bitcoin purchases.

When will Hyperscale Data begin publishing weekly Bitcoin purchase updates for GPUS?

Weekly updates disclosing total Bitcoin owned and prior-week purchases begin next Tuesday and will continue each Tuesday.

What net book value per share did Hyperscale Data report and how does it relate to GPUS market price?

The company reported an estimated net book value of about $0.52 per share and said market capitalization trades at a deep discount to that value.