Hyperscale Data Reports $55.3 Million in Bitcoin, Cash and Restricted Cash
Key Facts
Hyperscale Data said its combined holdings of bitcoin, cash and restricted cash totaled about $55.3 million as of October 18, 2026, according to a statement distributed through PR Newswire. The company said the total represented about 166% of the market capitalization of its common stock, in a comparison that includes restricted cash alongside cryptocurrency and cash in the balances counted. The market capitalization comparison was based on the company's closing share price on October 19, 2026, against balances reported as of the previous day. The total was below the roughly $56.4 million the company reported in its previous update on balances recorded as of October 4, 2026. That earlier update included holdings of 219.9586 bitcoin, alongside cash and restricted cash of about $37.4 million, according to the company's statement for that period.
On equity financing, the company announced on October 12, 2026, that it had reduced the cap on its at-the-market sales agreement to $100 million, including shares already sold under it. The original offering covered up to $300 million in common stock, according to a prospectus supplement dated June 18, 2026, included in a filing with the U.S. Securities and Exchange Commission. By the announcement of the amended agreement, the company had already sold 121,827,841 common shares through the at-the-market program, according to its statement. Gross proceeds from those sales totaled about $49.8 million before expenses, the amount the company said it had raised from shares sold under the program up to that announcement. Spartan Capital Securities acts as the sales agent under the agreement, according to the SEC filing.
On operating performance, Hyperscale Data reported preliminary revenue of about $40 million for the third quarter of 2026, according to a separate company statement on its results. It said the revenue represented a 64% increase from the third quarter of 2025, using the corresponding period of the previous year as the basis for the annual comparison. The company said in the same statement that the preliminary revenue figures "have not been audited or reviewed" by its independent auditor, leaving their preliminary status unchanged. In another update on the Michigan project, the company said its investments in Alliance Cloud Services and development of the facility exceeded $70 million as of September 15, 2026. The reported amount included the company's investments in Alliance Cloud Services alongside development of the Michigan facility covered by the AI data center plan.
Alongside its Michigan center strategy, the company announced a plan to transfer its bitcoin mining assets to Patriot BTC, according to its statement on reorganizing those operations. The assets it intends to transfer include the Montana data center, within the scope of the proposed transfer of the mining business, according to details provided by the company. The plan also includes bitcoin mining machines and equipment used in mining, alongside infrastructure associated with those operations, according to the same statement. The company described the purpose of the proposed transfer as "separating bitcoin mining operations from the Michigan AI center strategy," in its account of the arrangement of the two businesses. It intends to carry out that separation by transferring the mining assets to Patriot BTC, while the Michigan strategy concerns the AI data center.
On its financial outlook, the company reaffirmed its 2027 estimates, according to the statement announcing the date of its investor day and discussions of its portfolio businesses. It forecast revenue of between $300 million and $350 million for that year, maintaining that range in its announcement of the upcoming investor meeting. It also reaffirmed its forecast for consolidated adjusted earnings before interest, taxes, depreciation and amortization as part of the same financial estimates for 2027, according to the company statement. It put the expected earnings range at between $60 million and $80 million, using the adjusted measure across its consolidated businesses in presenting its annual outlook. The reaffirmation of the revenue and adjusted earnings ranges came in an announcement covering expansion of the Michigan AI center and strategic alternatives for the company's portfolio businesses.
Hyperscale Data scheduled a virtual investor day for November 12, 2026, according to its statement on the event, which will focus on the company's plans and businesses. During the event, it intends to discuss expansion of the Michigan AI center, the project covered by its previous updates on investments and progress in developing the facility. The discussion agenda also includes strategic alternatives for its portfolio businesses, according to the topics the company said it would address during the virtual investor day. In a separate operating timeline, the company said it was targeting the start of operations under the Michigan center's master services agreement during November 2026, according to a project progress update. The company linked the start of operations under that agreement to the start of revenue and cash flow generation from it, within its announced target timeline for operating the center.