HyperScale Data Holds Assets Worth 136% of Market Cap

HyperScale Data ($GPUS) disclosed that its combined holdings of Bitcoin (BTC) and cash, including restricted cash, amount to approximately $51 million, or 136% of the company’s market capitalization. The company reported on September 16 that as of September 13, it held 216.9480 BTC and about $34.3 million in cash and restricted cash. Bitcoin was valued at $76,838.16 per coin based on the September 13 closing price, totaling around $16.7 million. The company explained that its market capitalization calculation uses a share price of $51 million as of September 14, while external data providers like YCharts and MarketBeat reported different figures—$23.07 million and $27.93 million respectively.

The $51 million figure includes Bitcoin, cash, and restricted cash; the company emphasized that simplifying this to "Bitcoin holdings exceed market cap" would misrepresent its stated figures. Restricted cash refers to funds with usage limitations, requiring consideration of specific conditions before treating it as readily available assets. Milton “Todd” Ault III, HyperScale Data’s board chairman, stated the company holds significant financial resources compared to its current market capitalization, though this does not guarantee value conversion for shareholders.

HyperScale Data is also advancing a Michigan AI data center transition through its subsidiary Sentinum, which operates colocation and hosting services. The company previously halted Bitcoin mining in Michigan in early September. Earlier transactions included selling approximately 65 BTC for $5.1 million on August 30, with proceeds supporting the Michigan data center development. The firm had also sold about 685 BTC for $43 million to reduce debt of roughly $30 million, and borrowed $30 million using Bitcoin as collateral at a variable rate of approximately 4.9%.