Hyperscale Data Subsidiary to Launch New Coin on Solana Blockchain
Rhea-AI Summary
Hyperscale Data (NYSE American: GPUS) has announced that its subsidiary BitNile.com will launch Nile Coin on the Solana blockchain platform on May 1, 2025. BitNile.com, a U.S.-based social gaming platform, chose Solana for its high-performance infrastructure, streamlined onboarding process, transaction speed, and scalability.
The company plans to provide additional updates regarding the future utility of Nile Coin in the coming weeks. BitNile.com's CEO Joe Spaziano emphasized that this launch represents a strategic step in expanding their platform while focusing on leveraging advanced technologies to enhance user engagement and drive long-term stakeholder value.
Positive
- Strategic expansion into blockchain technology through Solana platform integration
- Potential for new revenue streams through cryptocurrency launch
Negative
- Unclear utility and use case for the new cryptocurrency
- Entering highly competitive and volatile cryptocurrency market
Bitnile.com to Launch Nile Coin on Solana Blockchain on May 1, 2025
LAS VEGAS, April 23, 2025 (GLOBE NEWSWIRE) -- Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), today announced that its indirectly wholly owned subsidiary BitNile.com, Inc. (“Bitnile.com”), will develop and launch its own coin, Nile Coin, on the Solana blockchain platform.
Bitnile.com, a U.S.-based social gaming platform, plans to leverage Solana’s high-performance infrastructure to introduce Nile Coin, with the launch scheduled for May 1, 2025. The Company intends to provide additional updates in the coming weeks regarding the future utility of Nile Coin.
“Solana offers an ideal foundation for launching Nile Coin, thanks to its streamlined onboarding process, impressive transaction speed, and scalability,” said Joe Spaziano, Chief Executive Officer of Bitnile.com. “This launch is an exciting step in expanding the Bitnile.com platform, and we remain focused on harnessing advanced technologies to enhance user engagement and drive long-term value for our stakeholders.”
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 subsidiaries, Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries. Hyperscale Data’s 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 intends to completely divest itself of ACG on or about December 31, 2025, at which time, it would solely be an owner and operator of data centers to support high-performance computing services. Until that happens, the Company provides, through ACG and its wholly and majority-owned subsidiaries and strategic investments, mission-critical products that support a diverse range of industries, including an artificial intelligence 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.
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.
Hyperscale Data Investor Contact:
IR@hyperscaledata.com or 1-888-753-2235
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/af09bc58-aa01-410c-aca3-c58e4480fea4
FAQ
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