Hyperscale Data Inc. Stock Price, News & Analysis

Hyperscale Data (NYSE: GPUS) issued a stockholder update focusing on its strategic shift to data center operations. The company is transforming its Michigan data center, a 617,000 square foot facility on 34.5 acres, from a current 30MW capacity to potentially 300MW. The company is in discussions with utilities and developers for infrastructure upgrades to support high-performance computing (HPC) and AI solutions.

The development project could cost up to $2 billion at the high end. The company plans to distribute a one-time dividend of Series F Exchangeable Preferred Stock to separate non-core businesses under Ault Capital Group, making Hyperscale Data a pure-play data center operator. The company aims to secure long-term leases with well-capitalized hyperscalers, targeting agreements similar to Core Scientific's recent 12-year, $3.5 billion contract for 200MW.

Ault & Company announces plans to initiate a cash tender offer to purchase up to 111,000 shares (10%) of Hyperscale Data's Class A Common Stock. The offer price will range between $7.50 and $10.00 per share, representing 50% to 100% premiums over the last reported price of $4.98 on December 5, 2024.

The purchase will be conducted through a modified Dutch auction. Ault & Company, along with its affiliates, currently owns approximately 85.7% of Hyperscale Data's outstanding shares. The offer is expected to commence in late December 2024 or early January 2025, subject to board and regulatory approvals.

Hyperscale Data (NYSE American: GPUS) announced that its subsidiary TurnOnGreen has secured $3.9 million in new defense contracts through its power electronics division. The contracts involve producing defense-grade power conversion modules and tactical systems for military vehicles and communications. TurnOnGreen has also secured a contract with an Israel-based defense OEM for armored fighting vehicles and military ambulances. The company is providing custom uninterruptible power solutions for tactical command communications systems globally. Their solutions have been validated by the Israel Defense Forces (IDF) and meet international military standards.

Hyperscale Data (NYSE American: GPUS) reports mining 640 Bitcoin year to date through November 26, 2024. The mining output comprises 380 Bitcoin from their Michigan facility and 260 Bitcoin from machines previously hosted by Core Scientific. The company is currently transitioning from Bitcoin mining to become a pure play artificial intelligence data center business, while maintaining transparency with stockholders during this strategic shift.

Hyperscale Data (NYSE: GPUS) has announced a special one-time dividend distribution of 1 million shares of newly designated Series F Exchangeable Preferred Stock. Stockholders of record as of December 13, 2024, will receive approximately 0.139 shares of Series F Preferred Stock for each eligible share held, with payment scheduled for December 23, 2024. The Series F Preferred Stock has a $1.00 liquidation preference, won't pay dividends, and won't be publicly traded. After one year, holders can exchange each share for 10 Class A and 5 Class B Common Stock shares of Ault Capital Group, a wholly-owned subsidiary. Following this distribution, the company will focus solely on Bitcoin mining and AI operations through Sentinum.

Hyperscale Data (NYSE American: GPUS) has announced its Board of Directors' declaration of a monthly cash dividend of $0.2708333 per share for its 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock. The dividend's record date is set for November 30, 2024, with a payment date of December 10, 2024.

Hyperscale Data (NYSE: GPUS) announces a special one-time dividend distribution of 5,000,000 shares of Class B Common Stock to holders of Class A Common Stock and Series C Convertible Preferred Stock. Stockholders of record as of November 29, 2024, will receive approximately 0.71 shares of Class B Common Stock for each eligible share, with payment scheduled for December 16, 2024. The Class B Common Stock carries 10x voting power compared to Class A shares and is convertible to Class A shares on a one-for-one basis. While the company plans to seek NYSE American listing for Class B shares, trading availability is not guaranteed.

Hyperscale Data (NYSE: GPUS) has announced a special one-time dividend distribution of newly designated 10% Series E Cumulative Redeemable Perpetual Preferred Stock to common stockholders and Series C Convertible Preferred holders. The record date is set for November 26, 2024, with a payment date of December 9, 2024. Shareholders will receive approximately 0.092 shares of Series E Preferred Stock for each eligible share. The Series E Preferred Stock has a $25.00 stated value per share and will pay a monthly cash dividend at a 10% annualized rate. The company plans to seek NYSE American listing for the Series E Preferred Stock, though listing is not guaranteed.

Hyperscale Data (NYSE American: GPUS) has announced a 1-for-35 reverse stock split of its Class A Common Stock, effective November 22, 2024. Trading on a split-adjusted basis will begin on November 25, 2024, under a new CUSIP number (09175M 804). The reverse split affects all issued and outstanding shares, equity incentive plans, and stock options/warrants. The par value remains at $0.001 per share. While stockholders' percentage interest remains unchanged, those entitled to fractional shares will receive cash payments instead. Computershare Trust Company will manage the exchange process for physical certificate holders.