Hyperscale Data, Inc. Segments Disclosure
26. SEGMENT AND CUSTOMERS INFORMATION
The Company had the following reportable segments as of December 31, 2025 and 2024; see Note 1 for a brief description of the Company’s business. The Company’s Chief Operating Decision Maker (“CODM”) is its Executive Chairman, Mr. Ault. The performance measure of the Company’s reportable segments is primarily income or (loss) from operations. Income or (loss) from operations for each segment includes all revenues, cost of revenues, gross profit and other operating expenses directly attributable to the segment. The CODM is also provided with key non-cash expenses by segment, including depreciation and amortization, impairment of property and equipment and impairment of goodwill and intangible assets. These financial metrics are used for evaluating the performance of each segment and making decisions about allocating capital and other resources to each segment. The “Holding Co.” column includes financial results that are not allocated to a specific reportable segment but are primarily generated within the holding company entity. The following data presents the revenues, expenditures and other operating data of the Company and its operating segments for the year ended December 31, 2025:
| Gresham | TurnOnGreen | Fintech | Sentinum | AGREE | Energy | ROI | Holding Co. | Total | ||||||||||||||||||||||||||||
| Revenue, crane operations | $ | $ | $ | $ | $ | $ | 45,459,000 | $ | $ | $ | 45,459,000 | |||||||||||||||||||||||||
| Revenue, crypto assets mining | 21,307,000 | 21,307,000 | ||||||||||||||||||||||||||||||||||
| Revenue, hotel and real estate operations | 1,284,000 | 18,951,000 | 20,235,000 | |||||||||||||||||||||||||||||||||
| Revenue, lending and trading activities | 1,728,000 | 1,728,000 | ||||||||||||||||||||||||||||||||||
| Revenue, other | 3,404,000 | 7,228,000 | 29,000 | 4,000 | 2,718,000 | 13,383,000 | ||||||||||||||||||||||||||||||
| Total revenue | 3,404,000 | 7,228,000 | 1,728,000 | 22,591,000 | 18,951,000 | 45,488,000 | 4,000 | 2,718,000 | 102,112,000 | |||||||||||||||||||||||||||
| Cost of revenue | 2,504,000 | 3,909,000 | 2,947,000 | 27,348,000 | 12,832,000 | 29,378,000 | 212,000 | 1,409,000 | 80,539,000 | |||||||||||||||||||||||||||
| Gross profit (loss) | 900,000 | 3,319,000 | (1,219,000 | ) | (4,757,000 | ) | 6,119,000 | 16,110,000 | (208,000 | ) | 1,309,000 | 21,573,000 | ||||||||||||||||||||||||
| Operating expenses | ||||||||||||||||||||||||||||||||||||
| General and administrative | 366,000 | 3,528,000 | 405,000 | 1,844,000 | 5,730,000 | 8,879,000 | 29,282,000 | 50,034,000 | ||||||||||||||||||||||||||||
| Selling and marketing | 57,000 | 1,055,000 | 16,779,000 | 446,000 | 18,337,000 | |||||||||||||||||||||||||||||||
| Research and development | 125,000 | 444,000 | 3,515,000 | 750,000 | 4,834,000 | |||||||||||||||||||||||||||||||
| Change in fair value of crypto assets | 7,640,000 | 7,640,000 | ||||||||||||||||||||||||||||||||||
| Impairment of property and equipment | 2,996,000 | 2,996,000 | ||||||||||||||||||||||||||||||||||
| Total operating expenses | 548,000 | 5,027,000 | 405,000 | 9,484,000 | 5,730,000 | 8,879,000 | 20,294,000 | 33,474,000 | 83,841,000 | |||||||||||||||||||||||||||
| (Loss) income from operations | $ | 352,000 | $ | (1,708,000 | ) | $ | (1,624,000 | ) | $ | (14,241,000 | ) | $ | 389,000 | $ | 7,231,000 | $ | (20,502,000 | ) | $ | (32,165,000 | ) | (62,268,000 | ) | |||||||||||||
| Other income (expense): | ||||||||||||||||||||||||||||||||||||
| Interest and other income | 2,770,000 | |||||||||||||||||||||||||||||||||||
| Interest expense | (16,120,000 | ) | ||||||||||||||||||||||||||||||||||
| Loss on extinguishment of debt | (3,432,000 | ) | ||||||||||||||||||||||||||||||||||
| Change in fair value of embedded derivative liabilities | 3,181,000 | |||||||||||||||||||||||||||||||||||
| Gain on deconsolidation of subsidiary | 12,377,000 | |||||||||||||||||||||||||||||||||||
| Loss on the sale of fixed assets | (1,802,000 | ) | ||||||||||||||||||||||||||||||||||
| Total other expense, net | (3,026,000 | ) | ||||||||||||||||||||||||||||||||||
| Loss before income taxes | $ | (65,294,000 | ) | |||||||||||||||||||||||||||||||||
| Depreciation and amortization expense | $ | 314,000 | $ | 228,000 | $ | $ | 9,963,000 | $ | 3,062,000 | $ | 4,260,000 | $ | 85,000 | $ | 1,907,000 | $ | 19,819,000 | |||||||||||||||||||
| Interest expense | $ | (115,000 | ) | $ | (158,000 | ) | $ | $ | (6,000 | ) | $ | (6,005,000 | ) | $ | (1,927,000 | ) | $ | (1,405,000 | ) | $ | (6,504,000 | ) | $ | (16,120,000 | ) | |||||||||||
| Capital expenditures for the year ended December 31, 2025 | $ | 448,000 | $ | 83,000 | $ | $ | 19,596,000 | $ | 473,000 | $ | 3,886,000 | $ | 43,000 | $ | 10,000 | $ | 24,539,000 | |||||||||||||||||||
| Segment identifiable assets as of December 31, 2025 | $ | 41,199,000 | $ | 3,228,000 | $ | 6,374,000 | $ | 89,455,000 | $ | 65,823,000 | $ | 41,154,000 | $ | 731,000 | $ | 55,997,000 | $ | 303,961,000 | ||||||||||||||||||
Segment information for the year ended December 31, 2024:
| TurnOnGreen | Fintech | Sentinum | AGREE | Energy | ROI | Holding Co. | Total | |||||||||||||||||||||||||
| Revenue | $ | 4,913,000 | $ | $ | $ | $ | 116,000 | $ | 253,000 | $ | 2,523,000 | $ | 7,805,000 | |||||||||||||||||||
| Revenue, crypto assets mining | 30,598,000 | 30,598,000 | ||||||||||||||||||||||||||||||
| Revenue, hotel and real estate operations | 876,000 | 18,015,000 | 18,891,000 | |||||||||||||||||||||||||||||
| Revenue, crane operations | 47,475,000 | 47,475,000 | ||||||||||||||||||||||||||||||
| Revenue, lending and trading activities | 1,893,000 | 1,893,000 | ||||||||||||||||||||||||||||||
| Total revenue | 4,913,000 | 1,893,000 | 31,474,000 | 18,015,000 | 47,591,000 | 253,000 | 2,523,000 | 106,662,000 | ||||||||||||||||||||||||
| Cost of revenue | 2,647,000 | (1,205,000 | ) | 34,338,000 | 12,928,000 | 31,411,000 | 1,086,000 | 1,240,000 | 82,445,000 | |||||||||||||||||||||||
| Gross profit (loss) | 2,266,000 | 3,098,000 | (2,864,000 | ) | 5,087,000 | 16,180,000 | (833,000 | ) | 1,283,000 | 24,217,000 | ||||||||||||||||||||||
| Operating expenses | ||||||||||||||||||||||||||||||||
| Research and development | 1,008,000 | 10,003,000 | 11,011,000 | |||||||||||||||||||||||||||||
| Selling and marketing | 1,293,000 | 12,726,000 | 14,019,000 | |||||||||||||||||||||||||||||
| General and administrative | 4,038,000 | (5,556,000 | ) | (746,000 | ) | 4,830,000 | 16,267,000 | 16,412,000 | 35,245,000 | |||||||||||||||||||||||
| Impairment of property and equipment | 10,500,000 | 8,946,000 | 19,446,000 | |||||||||||||||||||||||||||||
| Impairment of goodwill and intangible assets | 1,500,000 | 1,500,000 | ||||||||||||||||||||||||||||||
| Total operating expenses | 6,339,000 | (5,556,000 | ) | 9,754,000 | 13,776,000 | 17,767,000 | 22,729,000 | 16,412,000 | 81,221,000 | |||||||||||||||||||||||
| (Loss) income from operations | $ | (4,073,000 | ) | $ | 8,654,000 | $ | (12,618,000 | ) | $ | (8,689,000 | ) | $ | (1,587,000 | ) | $ | (23,562,000 | ) | $ | (15,129,000 | ) | (57,004,000 | ) | ||||||||||
| Other income (expense): | ||||||||||||||||||||||||||||||||
| Interest and other income | 2,236,000 | |||||||||||||||||||||||||||||||
| Interest expense | (19,671,000 | ) | ||||||||||||||||||||||||||||||
| Gain on conversion of investment in equity securities to marketable equity securities | 17,900,000 | |||||||||||||||||||||||||||||||
| Gain on extinguishment of debt | 2,981,000 | |||||||||||||||||||||||||||||||
| Loss from investment in unconsolidated entity | (1,958,000 | ) | ||||||||||||||||||||||||||||||
| Impairment of equity securities | (6,266,000 | ) | ||||||||||||||||||||||||||||||
| Gain on the sale of fixed assets | 79,000 | |||||||||||||||||||||||||||||||
| Total other expense, net | (4,699,000 | ) | ||||||||||||||||||||||||||||||
| Loss before income taxes | $ | (61,703,000 | ) | |||||||||||||||||||||||||||||
| Depreciation and amortization expense | $ | 98,000 | $ | $ | 14,879,000 | $ | 2,735,000 | $ | 4,641,000 | $ | 74,000 | $ | 2,010,000 | $ | 24,437,000 | |||||||||||||||||
| Interest expense | $ | $ | (97,000 | ) | $ | (125,000 | ) | $ | (6,039,000 | ) | $ | (2,808,000 | ) | $ | (3,879,000 | ) | $ | (6,723,000 | ) | $ | (19,671,000 | ) | ||||||||||
| Capital expenditures for the year ended December 31, 2024 | $ | 53,000 | $ | $ | 1,697,000 | $ | 797,000 | $ | 2,023,000 | $ | 157,000 | $ | 101,000 | $ | 4,828,000 | |||||||||||||||||
| Segment identifiable assets as of December 31, 2024 | $ | 3,050,000 | $ | 6,676,000 | $ | 35,260,000 | $ | 69,130,000 | $ | 45,524,000 | $ | 1,130,000 | $ | 59,701,000 | $ | 220,471,000 | ||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Apr 15, 2026 | Showing above |
| 2024 | Apr 15, 2025 | |
| 2023 | Apr 16, 2024 | |
| 2022 | Apr 17, 2023 | |
| 2021 | Apr 15, 2022 | |
| 2016 | Apr 10, 2017 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.