- Hyperscale Data (GPUS, Financial) secures nearly $75 million in preferred stock purchase agreements, negating the need for additional equity raises.
- Michigan data center expansion planned: power capacity to increase from 30MW to 340MW for AI and HPC workloads.
- Separation from Ault Capital Group expected by end of 2025, positioning as an independent AI and digital infrastructure company.
Hyperscale Data, Inc. (GPUS) has announced securing nearly $75 million in preferred stock purchase agreements, which eliminates the company's current need to pursue additional equity offerings. This funding includes $51 million from Ault & Company and a further $24 million commitment through Series G convertible preferred stock.
A separate agreement with an institutional investor for up to $50 million in Series B convertible preferred stock has yielded $5.7 million so far. The capital will be used to significantly enhance the power capacity of their Michigan data center from 30MW to 340MW, enabling the company to support large-scale AI and high-performance computing (HPC) tasks. This upgrade is scheduled for completion within 44 months, with an additional 40MW of power from a natural gas utility planned within 18 months.
The company also intends to complete its separation from Ault Capital Group by the end of 2025, aiming to operate as an independent entity focused on AI and digital infrastructure. While the current preferred equity commitments are projected to support immediate capital needs, the company acknowledges the possibility of needing additional capital due to future market conditions or operational necessities.
