Hyperscale Data, Inc. (NYSE American: GPUS), a data center company based in Las Vegas that now focuses on artificial intelligence and Bitcoin, announced on July 28, 2026, that it holds 1,106.0467 Bitcoin. This Bitcoin is currently worth around $71.7 million, calculated using the closing price of $64,784 per Bitcoin on July 27.
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A recent announcement revealed that Ault Capital Group (ACG), a subsidiary of the company, bought approximately 15 Bitcoin during the week ending July 27th. These Bitcoins are jointly held by ACG and its subsidiary, Sentinum, Inc., which manages the company’s data center and Bitcoin mining operations.
From 11 BTC to 1,106: A Timeline of Aggressive Accumulation
Hyperscale Data’s approach to managing its company funds is interesting not because of *how much* money it holds compared to companies like MicroStrategy or Metaplanet, but how *quickly* it built up those holdings.
Company records show they owned about 11 Bitcoin in early 2025. This increased to roughly 234 BTC by November of that year, and grew further to around 515 BTC by the end of December 2025. In 2026, their Bitcoin holdings began to grow much faster.
As of May 19, 2026, the company had around 692 Bitcoin (BTC). This increased to over 700 by May 24 and reached approximately 780 BTC by the end of June. A significant buying spree then dramatically changed this trend; from June 30th to July 1st, they acquired an additional 67 BTC, bringing their total holdings to 849.
Just five days after accumulating 115.9 BTC – bringing its total close to 900 – Hyperscale surpassed 1,000 BTC by July 9th. Now, in under three weeks, the company holds 1,106 BTC.
The company obtains Bitcoin in two ways: by creating new coins themselves with Sentinum, and by buying them from existing exchanges using ACG.
The Stock Tells a Different Story
Things get tricky here. Even though Hyperscale Data’s Bitcoin investments have grown significantly, its stock price has actually decreased.
On July 25, 2026, GPUS stock was trading around $0.13, which valued the company at about $57.8 million. The stock price was near its lowest point for the year at $0.11, significantly below its high of over $1.00. Interestingly, the value of the Bitcoin held by the company—$71.7 million—is greater than its overall market value.
Around mid-June, the company revealed it held about $111.4 million in Bitcoin, cash, restricted cash, and silver – which was more than 73% of its total market value at that time. By the end of June, this figure had grown to over 117%.
If a company’s cash and easily-sold assets are worth more than its stock price, it usually means one of two things: either the stock is significantly undervalued, or investors doubt the company will be able to turn those assets into profits for them.
The Dilution Question
A large part of the market’s skepticism likely traces back to dilution.
On June 18, 2026, Hyperscale Data announced plans to sell up to $300 million in company stock through Spartan Capital Securities. This sale is noteworthy because the potential amount of stock offered was almost twice the company’s total market value at the time (around $172 million). The money raised will be used to expand data centers in Michigan and Montana, buy Bitcoin and precious metals, and cover general business expenses.
This news follows the company’s recent decision, just three weeks ago, to end its previous ATM program and repurchase $5 million in company stock. Additionally, a filing on May 29th enables the resale of up to 43 million shares of Class A stock as part of conversions related to convertible notes.
As a researcher tracking this stock, I’ve observed its typical reaction to these types of announcements – and it’s behaving as expected. Historically, the stock usually drops around 6.17% when news about ATM offerings surfaces, and that happens in roughly 75% of those instances. Interestingly, company insiders seem to be trying to reassure investors by buying shares on the open market.
In mid-June, CEO William Horne bought 200,000 shares for $0.1688 each. Around the same time, Executive Chairman Milton “Todd” Ault III and his related companies purchased shares at about $0.235. However, the company has consistently issued more shares, which has offset the positive impact of these purchases.
In the year 2025, Hyperscale Data brought in $102.1 million in revenue but experienced an operating loss of $62.3 million and a net loss of $66.4 million. The company anticipates revenue between $180 million and $200 million for 2026.
The Broader Corporate Bitcoin Treasury Landscape
The growth of Hyperscale Data coincides with a larger shift: more companies are now holding Bitcoin as part of their main financial assets, significantly impacting the investment landscape in 2025 and 2026.
As of early July 2026, around 198 publicly traded companies collectively owned approximately 1.268 million Bitcoin, worth about $77.5 billion. Strategy, formerly known as MicroStrategy, is by far the largest corporate holder, possessing around 76% of all Bitcoin held by these public companies.
The company now controls more than 815,000 Bitcoin. Metaplanet in Japan owns over 35,000 BTC, and Twenty One Capital – supported by Tether, Bitfinex, and SoftBank – holds around 43,500 BTC.
However, this trend isn’t universal. A report from CryptoQuant in March 2026 revealed that purchases of Bitcoin by corporate treasuries (excluding those using specific strategies) had fallen dramatically – down 99% from their high point in August 2025. The number of companies actively buying Bitcoin also decreased significantly, dropping by 76%. Some businesses, such as K Wave Media, have even stopped buying altogether, selling their 88 BTC in July 2026 to pay off debts and invest in artificial intelligence infrastructure.
As I’ve been tracking Bitcoin acquisitions, I’ve noticed Hyperscale Data was a particularly notable buyer in July – they added almost 400 BTC to their holdings that month. This makes them one of the more active, smaller-scale purchasers currently operating in the market.
What to Watch Next
A few key events are coming up soon. Hyperscale Data will announce its earnings on July 29, 2026. Recently, they agreed to a deal with a new cloud provider in California for 20 megawatts of AI computing power at their Michigan facility – this is the first agreement of its kind for them.
We’re also finalizing a larger, $1.2 billion deal for AI computing power. We expect to sell off our ACG business in the second quarter of 2027, which will allow us to concentrate on running data centers and managing digital assets.
The company is now making humanoid robots through its division, Omnipresent Robotics. They plan to have 30 of these robots – called the OPR-R2 – built and working by the end of the year.
According to Executive Chairman Ault, the company plans to keep increasing its Bitcoin holdings. He explained that each purchase is meant to strengthen their financial position and give them more ways to fund future growth.
The key question now is whether this will ultimately benefit shareholders. While Bitcoin currently trades around $63,000 to $65,000 – significantly lower than its peak of $126,210 in October 2025 – success depends not only on the price of Bitcoin but also on Hyperscale Data’s ability to capture that value without losing it through corporate changes.
2026-07-28 15:05