Hyperscale Data Targets Full Buildout of 340 MW Michigan AI Data Center Campus in 2029
Hyperscale Data Targets Full Buildout of 340 MW Michigan AI Data Center Campus in 2029 |
| [21-July-2025] |
Files $125 Million Shelf Registration to Provide Long-Term Financial Flexibility; No Immediate Capital Raise Planned LAS VEGAS, July 21, 2025 /PRNewswire/ -- Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company ("Hyperscale Data" or the "Company"), today announced a strategic development roadmap to fully build out its data center campus in Michigan that is optimized for artificial intelligence ("AI") to 340 megawatts ("MW"). This phased expansion underscores the Company's long-term commitment to supporting AI, machine learning and high-performance computing ("HPC") workloads.
The Company currently operates approximately 30 MW of power at the Michigan facility and expects to increase the power capacity to 70 MW over the next 20 months. The full 340 MW buildout is anticipated within 44 months from execution of an agreement with the local utility provider and securing appropriate funding. "We are building a scalable, AI-centric digital infrastructure platform," said William B. Horne, Chief Executive Officer of Hyperscale Data. "As demand for computing power accelerates, our Michigan campus positions us to scale efficiently and profitably to meet that demand." Shelf Registration Filed to Enable Long-Term Financial Flexibility To support the Michigan expansion and other strategic initiatives, the Company recently filed a shelf registration statement for up to $125 million (the "Registration Statement"). At this time, Hyperscale Data does not intend to raise capital under this Registration Statement. The Registration Statement provides flexibility to access capital markets over time as construction and development of the Michigan campus continues. Phased Expansion Timeline: The Michigan facility, located on an approximately 34-acre site, currently generates revenue through digital asset mining and by providing colocation and hosting services for the emerging AI ecosystems and other industries. Planned development milestones include:
In February 2025, the Company's indirect wholly owned subsidiary, Alliance Cloud Services, LLC ("ACS"), reached an agreement in principle with the local utility to increase available power to 300 MW. The final letter of authorization is currently under negotiation, and once executed, the full upgrade is expected to be completed within 44 months. Additionally, ACS has reached an agreement in principle with the local natural gas utility to supply an extra 40 MW of power. Positioning for the Future of AI Infrastructure Hyperscale Data's expansion plan is aligned with surging industry demand for purpose-built, high-density compute infrastructure. The Company cites comparable projects such as Applied Digital Corporation's recently announced 250 MW contract with CoreWeave, Inc., which is projected to generate over $7 billion in revenue over 15 years. As the Company enters the second half of 2025, it remains focused on reducing debt, streamlining operations and advancing its strategic transition to a pureplay AI data center platform. For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors, and any other interested parties read Hyperscale Data's public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov. About Hyperscale Data, Inc. Through its wholly owned subsidiary Sentinum, Inc., Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging AI ecosystems and other industries. Hyperscale Data's other wholly owned subsidiary, Ault Capital Group, Inc. ("ACG"), is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Hyperscale Data currently expects to divest itself of ACG (the "Divestiture") on or about December 31, 2025, though there can be no assurance that the Divestiture will be completed during 2025. Upon the occurrence of the Divestiture, the Company would solely be an owner and operator of data centers to support HPC services, though it may at that time continue to operate in the digital asset space as described in the Company's filings with the SEC. Until the Divestiture occurs, the Company will continue to provide, through ACG and its wholly and majority-owned subsidiaries and strategic investments, mission-critical products that support a diverse range of industries, including an AI software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, ACG is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data's headquarters are located at 11411 Southern Highlands Parkway, Suite 190, Las Vegas, NV 89141. On December 23, 2024, the Company issued one million (1,000,000) shares of a newly designated Series F Exchangeable Preferred Stock (the "Series F Preferred Stock") to all common stockholders and holders of the Series C Convertible Preferred Stock on an as-converted basis. The Divestiture will occur through the voluntary exchange of the Series F Preferred Stock for shares of Class A Common Stock and Class B Common Stock of ACG (collectively, the "ACG Shares"). The Company reminds its stockholders that only those holders of the Series F Preferred Stock who agree to surrender such shares, and do not properly withdraw such surrender, in the exchange offer through which the Divestiture will occur, will be entitled to receive the ACG Shares and consequently be stockholders of ACG upon the occurrence of the Divestiture. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company's business and financial results are included in the Company's filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company's Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company's website at hyperscaledata.com.
SOURCE Hyperscale Data Inc. | ||
Company Codes: AMEX:GPUS |
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