Hyperscale Data launches bitcoin treasury, sending stock soaring
The stock is still down over 90% year to date.
One of the latest entrants to the digital asset treasury scene is Hyperscale Data, which announced the launch of a $100 million bitcoin treasury strategy “as part of its transformation into a pure play artificial intelligence (‘AI’) data center and digital asset company.” Shares jumped 108% at the open upon the announcement, and remain up over 30% in early trading Monday.
The company said it will fund the initiative with proceeds from the sale of its Montana data center assets and its previously announced ATM program.
Hyperscale also said it will expand its Michigan campus, “where customer-installed NVIDIA graphics processing unit servers are enabling advanced AI and high-performance computing workloads.”
In other bitcoin news:
Strategy acquired 525 bitcoin for $60.2 million. The company, the largest corporate bitcoin holder, now has 638,985 bitcoin.
Vivek Ramaswamy’s Strive recently merged with Asset Entities to launch a bitcoin treasury and announced it “started its life as a public company with 69 bitcoin.” The company expects to raise up to $1.5 billion from its PIPE deal if the warrants are exercised.
Chinese company Cango mined 141.1 bitcoin last week. The bitcoin mining company holds 5,418.2 tokens.
French public company Capital B acquired 48 bitcoin and now holds 2,249 bitcoin.
David Beckham-backed Prenetics, a health science company that recently launched a bitcoin treasury, acquired 13 bitcoin, bringing its total to 233.4.
Finally, bitcoin ETFs are rebounding, with $2.4 billion in inflows last week, according to CoinShares. This represents the largest weekly inflows since July. BlackRock’s iShares Bitcoin Trust remains the leader, recording $1.1 billion in weekly inflows.
