[Form 4] Hyperscale Data, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Milton C. Ault III, Executive Chairman and 10% owner of Hyperscale Data, Inc. (GPUS), reported open-market purchases of the company’s common stock on September 8-9, 2025. He purchased 2,600 shares on 09/08/2025 at a volume-weighted average price of $0.4040 (range $0.4035–$0.4044) and 1,000 shares on 09/09/2025 at $0.3753, resulting in 6,050 shares held directly after these transactions. The filing also reports 19,249 shares beneficially owned indirectly by Ault & Company, Inc., of which Mr. Ault is CEO and is deemed to beneficially own those shares. The report lists 116 shares of 13% Series D Cumulative Redeemable Perpetual Preferred Stock as held directly. The Form 4 discloses the purchases were open-market transactions and includes an undertaking to provide detailed per-price purchase breakdowns upon request.

Positive

• Insider open-market purchases on 09/08/2025 and 09/09/2025 indicate the Executive Chairman increased his direct stake
• Clear disclosure of indirect ownership by Ault & Company, Inc., showing 19,249 shares beneficially owned indirectly
• Detailed price disclosure for 09/08/2025 (VWAP $0.4040; range $0.4035–$0.4044) and specific price for 09/09/2025 ($0.3753)
• Filing includes signatures for both Milton C. Ault III and Ault & Company, Inc., satisfying signature requirements

Negative

• None.

Insights

Securities Analyst

TL;DR: A director and significant shareholder made small open-market purchases, modestly increasing direct holdings; indirect holdings remain material through Ault & Company.

These Form 4 entries document insider purchases at low per-share prices, increasing direct ownership to 6,050 common shares and confirming an indirect stake of 19,249 common shares held by Ault & Company, Inc.

For investors, insider buying can signal confidence, but the absolute sizes reported here are modest relative to typical institutional stakes; the filing includes customary disclosures and an offer to provide granular purchase-price details to regulators or shareholders.

Corporate Governance Expert

TL;DR: Reporting is timely and detailed; the filing clarifies the reporting person’s dual roles and the indirect ownership vehicle.

The Form 4 properly identifies Milton C. Ault III as Executive Chairman, a director and a 10% owner, and explains that Ault & Company, Inc. is a related entity whose holdings are deemed beneficially owned by Mr. Ault. The filing includes signatures from both the individual and the corporate reporting entity and provides required price-range and VWAP disclosure for the 09/08/2025 trades.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

AULT MILTON C III

(Last) (First) (Middle)

11411 SOUTHERN HIGHLANDS PARKWAY

SUITE 190

(Street)

LAS VEGAS NV 89141

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Hyperscale Data, Inc. [ GPUS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Chairman

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/08/2025		P		2,600	A	$0.404(1)	5,050	D
Common Stock	09/09/2025		P		1,000	A	$0.3753	6,050	D
Common Stock								19,249	I	By Ault & Company, Inc.(2)
13% Series D Cumulative Redeemable Perpetual Preferred Stock								116	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

AULT MILTON C III

(Last) (First) (Middle)

11411 SOUTHERN HIGHLANDS PARKWAY

SUITE 190

(Street)

LAS VEGAS NV 89141

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Chairman

1. Name and Address of Reporting Person^*

Ault & Company, Inc.

(Last) (First) (Middle)

11411 SOUTHERN HIGHLANDS PARKWAY

SUITE 190

(Street)

LAS VEGAS NV 89141

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			See Remark

Explanation of Responses:

1. The common stock was purchased by the reporting person in open market transactions on the transaction date, with a volume weighted average purchase price of $0.4040. The range of purchase prices on the transaction date was $0.4035 to $0.4044 per share. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each price.

2. Milton C. Ault, III, is the Chief Executive Officer of Ault & Company, Inc. ("Ault & Co.") and is deemed to beneficially own the shares held by Ault & Co.

Remarks:

Mr. Ault, Chief Executive Officer of Ault & Co., is a director of the Issuer. For purposes of Section 16 of the Exchange Act, Ault & Co. may be deemed a director by deputization by virtue of its representation on the Board of Directors of the Issuer.

	/s/ Milton C. Ault, III	09/10/2025
	/s/ Milton C. Ault, III, Chief Executive Officer of Ault & Company, Inc.	09/10/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What trades did Milton C. Ault III report on Form 4 for GPUS?

The Form 4 reports open-market purchases of 2,600 shares on 09/08/2025 at a VWAP of $0.4040 and 1,000 shares on 09/09/2025 at $0.3753.

How many shares does Milton C. Ault III own directly and indirectly after these transactions?

The filing shows 6,050 shares held directly following the reported transactions and 19,249 shares held indirectly by Ault & Company, Inc.

Does the Form 4 explain the relationship between Milton C. Ault III and Ault & Company, Inc.?

Yes. The filing states Milton C. Ault III is CEO of Ault & Company, Inc., and is deemed to beneficially own the shares held by that entity.

Were any derivative securities or option exercises reported?

No derivative securities or option exercises are reported in Table II of this Form 4.

Does the filing disclose any preferred stock holdings?

Yes. The Form 4 lists 116 shares of 13% Series D Cumulative Redeemable Perpetual Preferred Stock as held directly.