Hyperscale Data Reports $102 Million In Assets, Nearly Double Its Market Cap

• Hyperscale Data announced on Tuesday that its restricted cash and Bitcoin holdings had reached $102 million, close to 190% of the company’s market cap.
• The company's Bitcoin treasury stood at roughly $44 million, while cash and restricted cash totaled $58 million.
• Chairman Milton “Todd” Ault III criticized the market for overlooking balance sheet strength and reaffirmed plans to continue adding Bitcoin while expanding artificial intelligence infrastructure.

Hyperscale Data Inc (GPUS) reported on Tuesday that its total cash, restricted cash, and Bitcoin (BTC) holdings had reached about $102 million, which was almost 190% of its current market capitalization. 

According to a press release, Hyperscale Data’s Bitcoin treasury was valued at about $44 million, and its cash and restricted cash at about $58 million. The total value of these assets was almost 189.92% of the company's current market capitalization, which is about $55 million.

Chairman Milton "Todd" Ault III said the market wasn't fully reflecting the value of those assets on the company's balance sheet. He also reiterated that he planned to continue buying Bitcoin and to grow the company's artificial intelligence (AI) data center operations. 

Hyperscale’s stock was down 0.6% on morning trade. On Stocktwits, the retail sentiment around GPUS remained in the ‘bullish’ zone, while chatter remained at ‘high’ levels over the past day.

Crypto Firms Expand Into AI And Data Center Infrastructure

Hyperscale Data has increasingly tied its strategy to both digital assets and the infrastructure needed for AI. 

Last month, the company said that it was an "AI data center company anchored by Bitcoin." It also said that its subsidiary, Alliance Cloud Services, had entered an agreement to acquire about 48.5 acres of land to expand its Michigan campus to meet the growing demand for AI and high-performance computing. 

Other big crypto-related companies have made similar moves in the past few months. In December last year, Hut 8 Corp (HUT) announced it was building AI data center infrastructure in Louisiana for Anthropic, one of the world's largest AI companies.

MARA Holdings Inc. (MARA) also said that it was building data center infrastructure for power generation projects in Texas. These changes came as many crypto mining businesses are moving to integrate with data centers and computing infrastructure, especially as Bitcoin’s price keeps retesting $70,000.

GPUS’ stock is down over 21% year-to-date and has fallen 93% over the past 12 months.

Read also: Bit Digital Cuts ETH Staking To Boost Treasury Flexibility, Holds $322 Million In WYFI Shares

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