Hyperscale Data, Inc.

Listed Company

GPUS-PDCIK 0000896493NYSENon-AcceleratedSmaller ReportingOil & Gas Field Machinery & EquipmentDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-65.55M

Total Assets

$313.71M

Equity

$119.76M

Shares Out

1.53M

Op. Cash Flow

$-62.52M

Business

Hyperscale Data, Inc. is a publicly reporting holding company that owns and operates data centers that mine Bitcoin and provide colocation and hosting for high-performance computing (HPC) and artificial intelligence (AI) workloads while also managing a portfolio of mission-critical businesses. It offers Bitcoin mining and custodial services, HPC/AI colocation, an AI SaaS platform (askROI), a social gaming platform (BNC), commercial lending, crane rental services, power electronics and EV charging solutions, and hospitality real estate operations. Reportable segments include Technology and Finance (Fintech), Sentinum (mining/data centers), AGREE (real estate/hotels), Energy and Infrastructure (Circle 8), ROI (BNC and askROI), and TurnOnGreen. The company conducts operations primarily across the United States (notably Michigan and Montana data centers and regional Circle 8 branches) and distributes digital products via web and mobile channels while operating through its subsidiaries.

Summary from filing dated 2025-04-15

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	102	107	135	118	52
Total cost of revenue	81	82	110	—	—
Gross profit	22	24	25	51	29
General and administrative	50	35	68	60	37
Selling and marketing	18	14	32	29	8
Research and development	5	11	4	3	2
Change in fair value of crypto assets	8	−30,000	—	—	—
Impairment of property and equipment	3	19	26	—	—
Impairment of goodwill and intangible assets	—	2	—	—	—
Total operating expenses	84	81	174	190	47
Loss from operations	−62	−57	−149	−139	−18
Interest and other income	3	2	4	3	808,000
Interest expense	−16	−21	−44	−37	−2
Gain on conversion of investment in equity securities to marketable equity securities	—	18	—	—	—
(Loss) gain on extinguishment of debt	−3	3	−7	—	929,000
Loss from investment in unconsolidated entity	—	−2	−302,000	—	—
Impairment of equity securities	—	−6	−10	−12	—
Change in fair value of embedded derivative liabilities	3	990,000	—	—	—
Gain on deconsolidation of subsidiary	12	—	—	—	—
(Loss) gain on the sale of fixed assets	−2	79,000	2	—	—
Total other expense, net	−3	−5	−91	−49	−5
Loss before income taxes	−65	−62	−241	−188	−23
Income tax provision	253,000	56,000	348,000	−4	130,000
Net loss from continuing operations	−66	−62	−241	−184	—
Net loss from discontinued operations	—	−779,000	−12	−6	—
Net loss	−66	−63	−253	−190	−23
Net (loss) income attributable to non-controlling interest	−850,000	6	22	—	—
Net loss attributable to Hyperscale Data	−66	−56	−231	—	—
Preferred dividends	−9	−5	−1	−393,000	−18,000
Net loss attributable to common stockholders	−75	−61	−232	−182	−23
Basic net loss per common share continuing operations	−0.83	−67.23	−2,076	−5,877	—
Diluted net loss per common share continuing operations	−0.83	−67.23	−2,076	−5,877	—
Basic net loss per common share discontinued operations	—	−0.86	−116.56	−196.5	—
Diluted net loss per common share discontinued operations	—	−0.86	−116.56	−196.5	—
Basic net loss per common share	−0.83	−68.09	−2,192	−0.74	−0.42
Diluted net loss per common share	−0.83	−68.09	−2,192	−0.74	−0.42
Weighted average basic common shares outstanding	91	903,000	106,000	30,000	—
Weighted average diluted common shares outstanding	91	903,000	106,000	30,000	—
Foreign currency translation adjustment	949,000	−66,000	−698,000	—	—
Other comprehensive income (loss)	949,000	−66,000	−698,000	−995,000	679,000
Total comprehensive loss	−74	−62	−233	−183	−23

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	13	5	6	8	16
Restricted cash	36	20	5	732,000	5
Accounts receivable, net	15	6	7	19	—
Inventories	5	2	2	22	5
Investments in promissory notes and other, related party	—	21	4	3	3
Loans receivable, current	187,000	1	1	8	—
Crypto assets	46	182,000	—	—	—
Prepaid expenses and other current assets	15	3	5	5	15
TOTAL CURRENT ASSETS	130	58	62	196	110
Intangible assets, net	14	2	4	35	4
Goodwill	10	295,000	6	28	10
Property and equipment, net	142	144	196	147	174
Right-of-use assets	7	4	3	8	—
Investments in common stock and equity securities, related party	15,000	2	679,000	—	—
Investments in other equity securities	4	3	22	42	—
Other assets	7	7	9	6	4
TOTAL ASSETS	314	221	299	562	490
Accounts payable and accrued expenses	39	59	55	60	23
Operating lease liability, current	2	2	1	3	1
Notes payable, current	82	96	12	40	40
Notes payable, related party, current	2	164,000	2	352,000	—
Convertible notes payable	7	20	7	—	—
Guarantee liability	39	39	39	—	—
TOTAL CURRENT LIABILITIES	170	216	140	225	82
Operating lease liability, non-current	5	2	2	6	4
Notes payable, non-current	1	904,000	85	—	—
Convertible notes payable, non-current	8	—	9	11	468,000
Other long-term liabilities	3	—	—	—	—
TOTAL LIABILITIES	188	219	240	338	145
Preferred stock, $0.001 par value - 25,000,000 shares authorized; 2,299,188 and 2,029,450 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively (liquidation preference of $90,025,000 as of December 31, 2025)	2,000	2,000	—	—	—
Additional paid-in capital	853	669	645	566	386
Accumulated deficit	−735	−629	−567	−329	−146
Accumulated other comprehensive income (loss)	812,000	−668,000	−2	−1	−106,000
Treasury stock, at cost	—	−31	−31	−29	−13
TOTAL HYPERSCALE DATA STOCKHOLDERS EQUITY	120	9	45	206	227
Non-controlling interest	6	−7	12	17	2
TOTAL STOCKHOLDERS EQUITY	126	2	57	224	228
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	314	221	299	562	490

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−66	−63	−253	−190	—
Net loss from discontinued operations	—	−779,000	−12	−6	—
Net loss from continuing operations	−66	−62	−241	−184	—
Depreciation and amortization	20	24	28	15	—
Amortization of debt discount	6	8	22	30	1
Amortization of right-of-use assets	1	2	2	2	—
Stock-based compensation	709,000	3	9	—	8
Impairment of goodwill and intangible assets	—	2	43	—	—
Impairment of equity securities	—	9	16	12	—
Revenue, crypto assets mining	−21	−25	−33	−17	—
Proceeds from the sale of crypto assets	13	25	29	—	—
Change in fair value of crypto assets	8	−29,000	—	—	—
Realized gains on sale of marketable securities	—	−8	−8	−12	−21
Realized (gains) losses on non-marketable equity securities	−44,000	5	—	—	—
Proceeds from the sale of investment in equity securities	4	—	—	—	—
Gain on the sale of equity securities	−1	—	—	—	—
Change in fair value of embedded derivative liabilities	−3	−910,000	—	—	—
Loss from investment in unconsolidated entity	—	2	302,000	924,000	311,000
Gain from reversal of deferred underwriting commissions of Ault Disruptive Technologies Corporation (Ault Disruptive) subsidiary	—	−3	—	—	—
Loss (gain) on extinguishment of debt	3	−3	13	—	—
Gain on deconsolidation of subsidiary	−12	—	—	—	—
Other	277,000	−3	−1	—	—
Marketable equity securities	−2	11	46	—	—
Accounts receivable	−4	316,000	−2	−58,000	−1
Inventories	408,000	−36,000	3	−1	−2
Prepaid expenses and other current assets	55,000	948,000	4	4	−6
Other assets	−122,000	−3	−3	−4	−2
Accounts payable and accrued expenses	−11	2	16	9	—
Lease liabilities	−2	−2	−2	−2	—
Net cash used in operating activities from continuing operations	−63	−13	160,000	—	−62
Net cash used in operating activities from discontinued operations	—	−6	−6	−504,000	—
Net cash used in operating activities	−63	−19	−5	26	−62
Purchase of property and equipment	−25	−5	−15	−99	−152
Purchase of crypto assets	−45	—	—	—	—
Acquisition of Gresham Worldwide, Inc. (Gresham), net of cash acquired	5	—	—	—	—
Cash decrease upon deconsolidation of subsidiary	−6,000	—	−6	—	—
Investments in loans receivable	−3	−1	−501,000	−11	−18
Investments in non-marketable equity securities	−550,000	—	−11	−2	−3
Proceeds from the sale of fixed assets	3	13	5	—	—
Proceeds from sale of investments in common stock, related party	2	—	—	—	—
Investment in notes receivable, related party	−11	—	−4	—	—
Principal payments on loans receivable	1	—	—	—	—
Payments from notes receivable, related party	3	—	—	—	—
Other	−6,000	−109,000	−210,000	—	—
Net cash (used in) provided by investing activities from continuing operations	−70	7	−33	−150	—
Net cash used in investing activities from discontinued operations	—	−4	4	−9	—
Net cash (used in) provided by investing activities	−70	3	−30	−159	−333
Gross proceeds from sales of Class A common stock	125	15	39	—	—
Financing cost in connection with sales of Class A common stock	−4	−513,000	−1	—	—
Proceeds from sales of Series B preferred stock	32	—	3	4	—
Proceeds from sales of Series C preferred stock and warrants, related party	—	9	4	—	—
Proceeds from sales of Series G and Series H preferred stock and warrants, related party	5	—	−500,000	—	—
Proceeds from subsidiaries sale of stock to non-controlling interests	—	2	7	—	—
Distribution to Circle 8 non-controlling interest	−125,000	—	−729,000	—	—
Proceeds from notes payable	51	61	91	53	85
Payments on notes payable	−57	−60	−116	−74	−2
Payments on convertible notes payable, related party	—	−243,000	−150,000	—	—
Proceeds from notes payable, related party	2	—	2	—	—
Payments on notes payable, related party	—	−2	−314,000	—	—
Payments of preferred dividends	−9	−5	−1	−393,000	−18,000
Proceeds from sales of convertible notes	17	7	5	—	—
Payments on convertible notes	−6	−1	−1	—	—
Net cash provided by financing activities from continuing operations	156	23	33	117	—
Net cash provided by financing activities from discontinued operations	—	3	4	7	—
Net cash provided by financing activities	156	26	37	124	398
Effect of exchange rate changes on cash and cash equivalents from continuing operations	597,000	30,000	−776,000	864,000	−266,000
Net increase in cash and cash equivalents and restricted cash	24	10	1	—	—
Cash paid during the period for interest - continuing operations	3	11	4	—	—
Cash paid during the period for interest - discontinued operations	—	—	778,000	—	—
Settlement of accounts payable with crypto assets	30,000	39,000	28,000	418,000	—
Settlement of interest payable with crypto assets	—	142,000	—	—	—
Settlement of note payable with crypto assets	—	506,000	—	400,000	—
Offset of fees receivable against note payable	—	2	—	—	—
Conversion of convertible notes payable into shares of Class A common stock	22	5	—	45	—
Conversion of Series B preferred stock into shares of Class A common stock	50,000	—	400,000	386,000	—
Conversion of debt and equity securities to marketable securities	—	5	24	6	—
Exchange of related party advances for investment in other equity securities, related party	—	2	—	—	—
Recognition of new operating lease right-of-use assets and lease liabilities	2	2	4	2	—
Notes payable exchanged for convertible notes payable	9	—	—	—	—
Dividend of ROI investment in White River to ROI shareholders	—	19	—	—	—
Redeemable non-controlling interests in equity of subsidiaries paid with cash and marketable securities held in trust account	—	2	120	—	—
Paid-in-kind dividends settled through issuance of Series B preferred stock	92,000	—	5	12	—
Dividend paid in TurnOnGreen common stock in additional paid-in capital	—	5	11	—	—
Accrued ROI commitment shares payable to non-controlling interests	—	3	—	—	—
Settlement of subsidiary financing obligation with non-controlling interests	3	—	8	—	—
Conversion of loan receivable into equity investment	3	—	20	2	—
Issuance of Series D preferred stock in satisfaction of notes payable	3	—	1	—	—
Conversion of notes receivable, related party into equity in connection with the acquisition of Gresham	29	—	—	—	—

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