Customer Has Deposited Approximately $10.6 Million Under Previously Announced Master Services Agreement; Company Anticipates $120 Million of Dedicated Development Capital 

LAS VEGAS, June 29, 2026 /PRNewswire/ — Hyperscale Data, Inc. (NYSE American: GPUS), an artificial intelligence (“AI”) data center company anchored by Bitcoin (“Hyperscale Data” or the “Company”), today announced the establishment of a Michigan AI development reserve account (the “Michigan Reserve Account”), a dedicated capital reserve account targeting approximately $120 million to support the continued development of the Company’s Michigan AI data center campus (the “Michigan Campus”).

To provide investors with greater visibility into the progress of the development of the Michigan Campus, Hyperscale Data also announced that it intends to begin publishing monthly Michigan AI infrastructure progress reports, which are expected to include updates on the balance of the Michigan Reserve Account, capital deployed during the reporting period from the Michigan Reserve Account, progress on the requisite construction and other significant development milestones related to the Michigan Campus.  The first such report is expected to be issued in July 2026.

Pursuant to the Company’s previously announced Master Services Agreement (“MSA”) with a California-based neocloud provider, the customer has already provided deposits and non-recurring charges of $10.6 million. The Company has also begun allocating additional capital from its capital raising efforts through its At-the-Market (the “ATM”) offering to the Michigan Reserve Account; the vast majority of such amounts have been and will continue to be allocated to supporting the continued buildout of the Michigan Campus.

As previously announced, as of June 24, 2026, the Company held approximately $94.8 million of cash, restricted cash, Bitcoin and silver on its balance sheet. The establishment of the Michigan Reserve Account reflects the Company’s commitment to separately identify capital dedicated to the continued development of the Michigan Campus. Management believes maintaining a dedicated reserve account, together with providing Monthly Michigan AI Infrastructure Progress Reports, enhances transparency regarding the funding and execution of the Company’s Michigan AI infrastructure initiative.

The Company anticipates that the principal source of the proceeds to be deposited into the Michigan Reserve Account will be generated by its ATM offering. While the Company has identified other sources of capital should they be required, none of them provides capital at the relatively low cost of capital as does the ATM. Further, certain of these other sources of capital would increase the Company’s debt obligations, which the ATM does not.

The Michigan Reserve Account is intended to finance infrastructure improvements, construction, electrical distribution systems, cooling infrastructure, networking equipment and other capital expenditures directly supporting the Michigan Campus and the upgrades necessary to provide the services under the MSA. Management believes that providing monthly updates on the Michigan Reserve Account and infrastructure progress reports on the status of Michigan Campus will provide stockholders with a transparent framework for monitoring the Company’s execution as development advances.

As previously announced, the MSA has an initial term of 10 years with two five-year extension options that may be exercised by the customer (collectively, the “Maximum Term”) and initially contemplates approximately 20 megawatts (“MW”) of critical AI compute capacity. If exercised for the Maximum Term, the MSA is expected to generate in excess of $1.2 billion in revenue.  The MSA also provides the customer with a right to an additional 32 MW of critical AI compute capacity which, if exercised within the first two years of the initial term and continues through the two five-year extension options, would be expected to result in total contract revenue in excess of $3.0 billion.  

Milton “Todd” Ault III, Executive Chairman of Hyperscale Data, stated, “The Michigan Campus represents the most significant growth initiatives in our Company’s history, and we believe investors deserve meaningful transparency into how we are funding and executing its development. By establishing the Michigan Reserve Account and providing monthly infrastructure progress reports, we are creating a consistent and straightforward way for stockholders to monitor both the capital being committed to the Michigan Campus and the progress we are making each month.”

Mr. Ault continued, “We expect the Michigan Reserve Account to continue growing over time as we allocate additional capital to support infrastructure development. Our objective is to provide investors with regular, measurable updates as we continue building what we believe will become one of North America’s premier AI infrastructure campuses.”

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.

Through its wholly owned subsidiary Sentinum, Inc., Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging AI ecosystems and other industries. Hyperscale Data’s other wholly owned subsidiary, Ault Capital Group, Inc. (“ACG”), is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact.

Hyperscale Data currently expects the divestiture of ACG (the “Divestiture”) to occur in the second quarter of 2027. Upon the occurrence of the Divestiture, the Company would be an owner and operator of data centers to support high-performance computing services, as well as a holder of the digital assets. Until the Divestiture occurs, the Company will continue to provide, through ACG and its wholly and majority-owned subsidiaries and strategic investments, mission-critical products that support a diverse range of industries, including an AI software platform, equipment rental services, defense/aerospace, industrial, automotive and hotel operations. In addition, ACG is actively engaged in private credit and structured finance through Ault Lending, LLC, a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 190, Las Vegas, NV 89141.

On December 23, 2024, the Company issued one million (1,000,000) shares of a newly designated Series F Exchangeable Preferred Stock (the “Series F Preferred Stock”) to all common stockholders and holders of the Series C Preferred Stock on an as-converted basis. The Divestiture 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 (collectively, the “ACG Shares”). The Company reminds its stockholders that only those holders of the Series F Preferred Stock who agree to surrender such shares, and do not properly withdraw such surrender, in the exchange offer through which the Divestiture will occur, will be entitled to receive the ACG Shares and consequently be shareholders of ACG upon the occurrence of the Divestiture.

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 hyperscaledata.com.

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SOURCE Hyperscale Data Inc.