LAS VEGAS, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), today announced that its indirect, wholly owned subsidiary Alliance Cloud Services, LLC (“ACS”) has reached an agreement in principle with the local utility expected to energize ACS’ Michigan data center (the “Data Center”), enabling ACS to increase its power capacity from approximately 30 megawatts (“MW”) to 300 MW. The completion of the power upgrade is anticipated to take 44 months from execution of a formal Letter of Authorization (the “LOA”) between ACS and the utility, which is currently being negotiated.
The expansion of the Data Center to 300 MW will be a critical long-term milestone, which would enable ACS to increase its expansion efforts and further support the rapidly growing demand for high-performance computing (“HPC”) services powering artificial intelligence (“AI”) infrastructure. Hyperscale Data is simultaneously proceeding with the transition of the Data Center’s existing power capacity of 30MW from that of self-mining of Bitcoin to HPC services. As a part of negotiating the LOA, Hyperscale Data anticipates discussing potential approaches that could provide incremental power while the full buildout project is underway. Hyperscale Data is currently in the process of deploying the network, electrical and cooling systems for its first HPC environment. As Hyperscale Data moves forward in the coming months with both its short-term transition to HPC services and its power upgrade expansion process it will provide ongoing updates to its stockholders and the public as developments warrant.
Milton “Todd” Ault III, Executive Chairman of Hyperscale Data, commented, “We are pleased to have finally reached an agreement in principle with the local utility and look forward to executing a definitive agreement with it. This would be a game-changer for our business and the future of our AI infrastructure. Scaling our Data Center to 300 MW would significantly enhance our ability to meet surging demand from AI and high-performance computing customers. It also marks a major step forward in our transformation into a pure-play data center operator. We are committed to building a world-class facility that powers the next generation of technology, and this anticipated expansion is a significant step forward to meeting that objective.”
The completion of the power upgrade is subject to a number of risks and uncertainties, one or more which could result in the project being terminated, including, but not limited to: failure to agree upon terms and execute a definitive agreement; the inability of ACS or the Company to raise sufficient funds to pay for the power upgrades; failure to obtain regulatory consents and approvals; the inability to obtain sufficient easements, rights-of-way and land rights necessary to the work to be performed, and other presently unforeseen events or conditions.
Additional information regarding the material terms of the LOA will be included in a Current Report on Form 8-K to be filed with the United States Securities and Exchange Commission (“SEC”).
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction.
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.
Hyperscale Data is transitioning from a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact to becoming solely an owner and operator of data centers to support high performance computing services. Through its wholly and majority-owned subsidiaries and strategic investments, Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries. It also provides, through its wholly owned subsidiary, Ault Capital Group, Inc., mission-critical products that support a diverse range of industries, including an artificial intelligence software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, Hyperscale Data 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 240, Las Vegas, NV 89141.
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 www.hyperscaledata.com.
Hyperscale Data Investor Contact:
IR@hyperscaledata.com or 1-888-753-2235
