Hyperscale Data, Inc. said it has purchased more Bitcoin, pushing its corporate holdings to more than 1,106 BTC. At current prices, the stash is worth about $69.7 million.
According to Bitcoin Magazine, the NYSE-listed company added 18.594 BTC after buying 51.5 BTC last week. Shares of Hyperscale, which trade under the ticker GPUS, were down nearly 4% Tuesday morning in New York.
Executive chairman links Bitcoin buys to balance sheet strength
"Every Bitcoin we acquire further strengthens Hyperscale Data’s balance sheet and expands our financial flexibility," Executive Chairman Milton Todd Ault III said. "A stronger and larger Bitcoin treasury gives us additional options to finance growth, pursue strategic opportunities, and create long-term value for our stockholders. We intend to continue building our Bitcoin position over time."
The company said the holdings are split across its wholly owned subsidiaries, Sentinum, Inc. and Ault Capital Group, Inc. (ACG).
$100 million treasury target remains in focus
The accumulation effort is part of Hyperscale’s stated goal of building a $100 million digital asset treasury. The company also wants to reach full parity between its Bitcoin holdings and its market capitalization.
Bitcoin Magazine said Hyperscale is following a path associated with Strategy, formerly MicroStrategy. Under Michael Saylor, Strategy moved away from a traditional software business and into Bitcoin accumulation, giving investors a way to gain exposure to the asset through its Nasdaq-listed shares.
That model has influenced other companies to add Bitcoin to their treasuries. In Hyperscale’s case, Bitcoin Magazine noted an unusual detail: the company’s Bitcoin holdings now exceed its entire market capitalization, a setup more commonly seen in deeply discounted treasury plays.
The report was first published by Bitcoin Magazine and written by Mathew Di Salvo.