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Amid renewed institutional interest in crypto, Hyperscale Data bitcoin accumulation is rapidly reshaping the company’s balance sheet and market profile.
Summary
Bitcoin treasury climbs to $44.3 million
Hyperscale Data, Inc. (NYSE American: GPUS) reported a growing Bitcoin treasury anchored by mining output and open-market acquisitions, with holdings valued at approximately $44.3 million as of February 1, 2026. The figure is based on the Bitcoin price on that date and reflects both self-mined coins and purchases made for its digital asset reserve.
Additionally, as of the week ended February 1, 2026, the company held about $52.2 million in cash and restricted cash on its balance sheet. Together, these positions underpin Hyperscale Data’s stated objective of ultimately reaching $100 million worth of Bitcoin on its books, highlighting an aggressive accumulation approach.
Cash and Bitcoin exceed market capitalization
Based on the closing stock price on February 2, 2026, Hyperscale Data’s combined cash, restricted cash, and Bitcoin holdings of roughly $96.5 million represented approximately 142.78% of its market capitalization. This unusual relationship suggests the firm is trading below the value of its highly liquid assets.
However, management argues that this gap signals a broader mispricing. The company emphasizes that equity investors may not be fully recognizing either its treasury strength or its ongoing role as an AI-focused data center operator anchored by Bitcoin exposure.
Executive commentary on valuation and strategy
“We want to emphasize to our stockholders that we remain committed to our Bitcoin treasury strategy and are confident in the long-term nature of the asset,” said Milton “Todd” Ault III, Executive Chairman of Hyperscale Data. His comments underscore a conviction that Bitcoin remains a core strategic asset rather than a short-term trade.
Moreover, Ault stressed what he described as a disconnect between the firm’s share price and its balance sheet. He noted that current market capitalization does not, in the company’s view, fully reflect the value of the cash and Bitcoin positions, which together form a key pillar of its capital allocation plan.
Breakdown of Hyperscale Data’s Bitcoin holdings
In aggregate, Hyperscale Data’s wholly owned subsidiaries Sentinum, Inc. (Sentinum) and Ault Capital Group, Inc. (ACG) held exactly 575.5418 $BTC as of February 1, 2026. These digital assets form the core of the firm’s crypto treasury, diversified across mining output and open-market purchases.
Sentinum held approximately 543.5424 $BTC, including 103.3083 $BTC generated from mining operations and 440.2341 $BTC acquired on the open market. That said, ACG controlled around 31.9994 $BTC, adding a secondary source of holdings within the broader corporate structure.
During the week ended February 1, 2026, ACG completed new Bitcoin purchases totaling 11.0000 $BTC in the open market. Based on the Bitcoin closing price of $76,974 on February 1, 2026, the combined 575.5418 $BTC position corresponded to an approximate market value of $44.3 million, matching the company’s earlier valuation disclosure.
Ongoing Bitcoin accumulation strategy
Hyperscale Data intends to fully deploy the cash earmarked for its digital asset treasury strategy into additional Bitcoin over time. The company generally targets investing at least 5% of allocated cash each week, executing those purchases daily to smooth entry points.
However, the exact amount deployed can vary week by week, moving higher or lower depending on market conditions and internal strategic considerations. Management advises that investors evaluate the company’s accumulation on a multi-week basis, framing it as a structured dollar-cost-averaging program rather than a short-term trading plan.
In that context, the hyperscale data bitcoin framework is presented as a long-horizon reserve allocation, designed to compound $BTC exposure while maintaining operational flexibility for its AI and data center businesses.
Investor information and public filings
For more detail on Hyperscale Data and its subsidiaries, the company urges stockholders, investors, and interested parties to review its public filings and press releases. These are available in the Investor Relations section at hyperscaledata.com and through the U.S. Securities and Exchange Commission’s website at www.sec.gov.
Moreover, regulatory filings provide additional context on treasury management, capital markets activities, and the interplay between its data center operations and Bitcoin exposure, allowing analysts to better assess asset coverage compared with the current equity valuation.
Business model and subsidiary operations
Through its wholly owned subsidiary Sentinum, Hyperscale Data owns and operates a data center dedicated to mining digital assets while also offering colocation and hosting services. These services support emerging AI ecosystems and other industries that require high-performance infrastructure.
The company’s other wholly owned subsidiary, ACG, functions as a diversified holding company focused on acquiring undervalued businesses and disruptive technologies with potential global impact. Together, these entities create an operating base that extends beyond pure Bitcoin exposure into broader technology and industrial sectors.
Planned divestiture of ACG
Hyperscale Data currently expects the divestiture of ACG (the “Divestiture”) to occur in the fourth quarter of 2026. Upon completion, the company would remain an owner and operator of data centers supporting high-performance computing services, as well as a holder of digital assets such as Bitcoin.
Until the Divestiture closes, Hyperscale Data will continue, through ACG and its wholly and majority-owned subsidiaries plus strategic investments, to provide mission-critical products to a diverse set of industries. These include an AI software platform, social gaming platform, equipment rental services, defense and aerospace, industrial, automotive, medical and biopharma, and hotel operations.
In addition, ACG is active in private credit and structured finance via a licensed lending subsidiary. This financial arm expands the group’s exposure to yield-generating assets while the parent company prepares for the eventual separation of the ACG portfolio.
Series F Preferred Stock and mechanics of the Divestiture
On December 23, 2024, Hyperscale Data issued 1,000,000 shares of a newly designated Series F Exchangeable Preferred Stock (the Series F Preferred Stock). These securities were distributed to all common stockholders and holders of Series C Preferred Stock on an as-converted basis.
The planned Divestiture of ACG 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 (together, the “ACG Shares”). However, only holders of Series F Preferred Stock who agree to surrender their shares in the exchange offer, and do not properly withdraw that surrender, will receive ACG Shares.
Consequently, those participating holders will become shareholders of ACG once the Divestiture is completed. Hyperscale Data, headquartered at 11411 Southern Highlands Parkway, Suite 190, Las Vegas, NV 89141, continues to position itself as a specialized data center and digital asset operator while moving toward a cleaner corporate structure.
In summary, Hyperscale Data is leveraging Bitcoin as a strategic treasury asset while its cash and crypto holdings surpass current market capitalization, signaling a potential valuation disconnect as it advances both AI infrastructure and corporate restructuring plans.