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

Rhea-AI Filing Summary

Hyperscale Data, Inc. (GPUS) Form 4 shows insider purchases by Milton C. Ault III and related entity Ault & Company, Inc. On 09/23/2025 Mr. Ault purchased 1,000 shares of common stock at $0.3885 per share and on 09/24/2025 he purchased an additional 500 shares at $0.4182 per share, bringing his reported direct beneficial ownership to 16,550 shares. The filing also discloses 19,249 shares beneficially owned indirectly by Ault & Company, Inc., and 116 shares of 13% Series D cumulative redeemable perpetual preferred stock held directly. Mr. Ault is identified as Executive Chairman and a 10% owner; Ault & Company, Inc. is noted as having shares attributed to Mr. Ault as CEO.

Positive

• Insider purchases reported by Milton C. Ault III: 1,500 common shares acquired over two days, showing director buying activity
• Transparent beneficial ownership disclosure linking Mr. Ault and Ault & Company, Inc., clarifying indirect holdings of 19,249 shares

Negative

• None.

Insights

Securities Analyst

TL;DR: Director and 10% owner executed small open-market purchases totaling 1,500 common shares at sub-$0.42 prices.

The transactions are straightforward open-market purchases by Milton C. Ault III on consecutive days for modest share amounts (1,000 and 500 shares) at prices of $0.3885 and $0.4182, respectively. Reported direct beneficial ownership following these trades is 16,550 common shares, with an additional 19,249 shares held indirectly by Ault & Company, Inc. The filing also lists 116 shares of 13% Series D preferred stock. These disclosures comply with Section 16 reporting and do not indicate derivative activity. From a securities perspective, the trades are routine insider purchases and provide limited new information on control or capital structure.

Corporate Governance Expert

TL;DR: Form 4 discloses insider purchases and clarifies beneficial ownership relationships between the director and his investment vehicle.

The filing clarifies that Milton C. Ault III is both Executive Chairman and CEO of Ault & Company, Inc., and that Ault & Co.'s holdings are deemed beneficially owned by Mr. Ault. The report notes deputization language regarding board representation. The transactions themselves are small in scale and there is no amendment or derivative activity reported. For governance purposes, the filing transparently links individual and corporate holdings, which aids investor understanding of beneficial ownership concentration.

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
Estimated average burden
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).

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)
09/23/2025

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	09/23/2025		P		1,000	A	$0.3885	16,050	D
Common Stock	09/24/2025		P		500	A	$0.4182	16,550	D
Common Stock								19,249	I	By Ault & Company, Inc.(1)
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. 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	09/25/2025
	/s/ Milton C. Ault, III, Chief Executive Officer of Ault & Company, Inc.	09/25/2025
	** 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 were reported on the GPUS Form 4 by Milton C. Ault III?

The Form 4 reports purchases of 1,000 common shares on 09/23/2025 at $0.3885 and 500 common shares on 09/24/2025 at $0.4182.

How many GPUS shares does Milton C. Ault III beneficially own after these transactions?

The filing reports 16,550 shares beneficially owned directly following the reported transactions.

What indirect holdings are disclosed for GPUS related to Ault & Company, Inc.?

Ault & Company, Inc. is reported to beneficially own 19,249 common shares attributed to Milton C. Ault III.

Does the Form 4 report any derivative transactions or option exercises for GPUS?

No derivative securities, options, or conversions are reported in Table II; only common stock and 13% Series D preferred stock are listed.

What preferred holdings are disclosed in the GPUS Form 4?

The filing discloses 116 shares of 13% Series D Cumulative Redeemable Perpetual Preferred Stock held directly.