Hyperscale Data purchases 67 BTC, raising its holdings to 849 BTC

Source Cryptopolitan

Hyperscale Data Inc. (NYSE: $GPUS) has announced that it added 67 BTC to its balance sheet, joining Metaplanet as the second publicly traded firm to have acquired BTC so far in July.

The Las Vegas-based AI data center company said Thursday it purchased 67 BTC between June 30 and July 1, raising its total holdings to 849 BTC. 

The new record puts the company ahead of Ming Shing Group, Yueda Digital Holdings, and SOS Limited as the 49th-largest publicly traded Bitcoin treasury firm.

Hyperscale Data says Bitcoin is an anchor for the company’s balance sheet. “We plan to continue acquiring Bitcoin through a disciplined dollar-cost-averaging strategy in order to maximize the potential for long-term upside,” said the company’s Executive Chairman, Milton “Todd” Ault III.

Milton says Hyperscale Data is undervalued

The latest purchase comes just two days after Hyperscale Data had announced it purchased 53.54 BTC, increasing the total treasury to 780.48 BTC. 

At the time, the company revealed that its combined Bitcoin, cash, restricted cash, and silver holdings stood at approximately $106.7 million, representing about 117% of its common stock market cap.

Milton “Todd” Ault III used the disclosure to argue that investors are undervaluing the company in a release on Tuesday.

Last month, the company signed an AI compute deal with a California-based neocloud provider, which it expects to generate up to $1.2 billion in revenue. 

Milton said the market cap of the common stock “fails to reflect the value of the Company’s reported assets, its operating businesses, and the magnitude of the opportunity before us after the recent signing of the transformational master services agreement at its Michigan AI data center.”

GPUS shares trade at $0.1529 at the time of writing, putting the company’s market cap at $53.212 million, according to Yahoo Finance. 

Metaplanet announces 2,823 BTC purchase

Metaplanet also announced today it purchased 2,823 BTC on July 1, bringing its total holdings to 43,000 BTC, Cryptopolitan reported. 

The latest acquisition pushes the company ahead of MARA Holdings as the 3rd-largest public traded Bitcoin treasury firm. 

According to Bitcoin Treasuries, BTC supply held by public companies now stands at 1.268 million, marking a 0.6% increase over the last 30 days, despite BTC declining over 10% in the same timeframe. With BTC currently trading at $61,809, the supply is valued at $78.40 billion. 

Hyperscale Data adds another 67 Bitcoin, increasing total to 849 BTC
BTC 30-day price chart. Source: Coingecko

The smartest crypto minds already read our newsletter. Want in? Join them.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Intel Price Forecast: Nvidia Picked Xeon 6, Invested $5B, Yet Analysts Still Trail INTCIntel Corporation (NASDAQ: INTC) sits at $140.05, holding firm on the ascending trendline within the 2H timeframe. The RSI indicator is currently reading 55.21, positioning it as neutral-
Author  TradingKey
12 hours ago
Intel Corporation (NASDAQ: INTC) sits at $140.05, holding firm on the ascending trendline within the 2H timeframe. The RSI indicator is currently reading 55.21, positioning it as neutral-
placeholder
NVIDIA Price Forecast: Michael Burry Shorts NVDA, but Analysts See $299On July 1, NVIDIA (NASDAQ: NVDA) sits at $198.34, failing to break above the former support level that is now serving as resistance between $198 and $205 on the 2H chart's downward blue c
Author  TradingKey
12 hours ago
On July 1, NVIDIA (NASDAQ: NVDA) sits at $198.34, failing to break above the former support level that is now serving as resistance between $198 and $205 on the 2H chart's downward blue c
placeholder
Meta Compute Launch Sends AI Compute Stocks Tumbling GloballyMeta’s plan to sell surplus computing power hit chip stocks hard on Wall Street. Meta’s own shares climbed nearly 9% on the news.The announcement flipped years of assumed AI compute scarcity into a su
Author  Beincrypto
12 hours ago
Meta’s plan to sell surplus computing power hit chip stocks hard on Wall Street. Meta’s own shares climbed nearly 9% on the news.The announcement flipped years of assumed AI compute scarcity into a su
placeholder
Brent Crude Oil Erases Entire War Premium, Falls 40% to Pre-War LevelsBrent crude oil has erased its entire war premium, sliding roughly 40% from its March peak near $120 to trade around $72.25 on Wednesday. The move returns oil to its pre-war support base.The retreat f
Author  Beincrypto
12 hours ago
Brent crude oil has erased its entire war premium, sliding roughly 40% from its March peak near $120 to trade around $72.25 on Wednesday. The move returns oil to its pre-war support base.The retreat f
placeholder
Today’s Market Recap: Chip Stocks Retreat Collectively, Meta Rises Against the Trend, Non-Farm Payrolls Become the Next Key CatalystOn July 1, Eastern Time, U.S. stocks closed fluctuating lower on the first trading day of the second half of the year. Although some megacap tech stocks such as Meta (
Author  TradingKey
12 hours ago
On July 1, Eastern Time, U.S. stocks closed fluctuating lower on the first trading day of the second half of the year. Although some megacap tech stocks such as Meta (
goTop
quote