Patriot BTC Expected Initially to Hold Montana Data Center, Bitcoin Miners, Equipment and Related Infrastructure; Separation Intended to Create Focused Mining and AI Data Center Businesses
LAS VEGAS, Sept. 22, 2026 /PRNewswire/ — Hyperscale Data, Inc. (NYSE American: GPUS), an artificial intelligence (“AI”) data center company (“Hyperscale Data” or the “Company”), announced today that it is taking steps to form Patriot BTC, a proposed new subsidiary intended to hold the Company’s cryptocurrency mining operations and related assets as a distinct business.
As part of the proposed transaction, Hyperscale Data intends to initially transfer all operating assets used in its cryptocurrency mining operations to Patriot BTC, including the Company’s Montana data center, Bitcoin miners, mining equipment and related infrastructure.
The proposed transfer is intended to separate the Company’s Bitcoin mining operations from its Michigan AI data center strategy. The Company believes the separation would align management attention and capital allocation with the distinct needs of each business, improve transparency into their respective operations and financial performance, and pave the way for the Michigan facility to operate as a standalone, single-purpose AI data center business.
Patriot BTC Mining Assets
Patriot BTC is intended to become a focused Bitcoin mining and infrastructure company that would generate its own Bitcoin through its mining operations. The Company currently anticipates that Patriot BTC will initially hold two principal groups of assets:
The Company’s Montana data center and related Montana assets and infrastructure; andThe Company’s Bitcoin miners, mining equipment and associated Bitcoin mining infrastructure.
By placing the mining assets within a dedicated subsidiary, Hyperscale Data believes Patriot BTC can provide greater transparency into the value, operations and financial performance of the Company’s Bitcoin mining business.
Strategic Rationale and Alternatives for Patriot BTC
Management may recommend to the Board of Directors that, subject to applicable approvals, legal and regulatory requirements and other appropriate conditions, the Company pursue a transaction intended to position Patriot BTC within a publicly traded entity, whether through a separation or another transaction structure. The Company is evaluating potential structures to accomplish this objective and has not selected or approved a specific transaction structure.
Milton “Todd” Ault III, Executive Chairman of Hyperscale Data, stated, “Patriot BTC reflects our belief that the Company’s Bitcoin mining business can create greater long-term value with a distinct identity, focused leadership and a strategy tailored to the digital asset sector. We believe greater focus and transparency will allow stockholders and the market to evaluate the mining business on its own merits.”
Mr. Ault continued, “We continue to believe Bitcoin mining can be viable as a focused, single-purpose business. However, Bitcoin mining and AI data center development have different capital requirements, operating priorities and value drivers. Separating the businesses is intended to give each a clearer mandate and allow us to remain focused on positioning the Michigan facility for a potential sale, public-company transaction or internally funded development.”
Under the proposed structure, Patriot BTC’s management could focus on mining economics, fleet performance, power costs and related infrastructure, while the management of Alliance Cloud Services and Sentinum could focus on financing, developing and strategically positioning the Michigan AI data center.
Proposed Transaction
The formation of Patriot BTC has not yet been completed, and no transaction structure or separation involving Patriot BTC has been approved at this time.
Any proposed transaction involving Patriot BTC would be subject to, among other things:
Approval by the Hyperscale Data Board of Directors;Applicable federal and state securities laws;Applicable NYSE American and other trading-market requirements;Tax and accounting considerations;Determination of the appropriate capitalization of Patriot BTC;Selection and implementation of an appropriate transaction structure; andOther legal, regulatory and business conditions deemed appropriate by the Company.
There can be no assurance that Patriot BTC will be formed as currently contemplated, that any proposed transaction involving Patriot BTC will be approved or completed, that Patriot BTC will become publicly traded, or as to the timing or final structure of any such transaction.
Hyperscale Data expects to provide additional information regarding Patriot BTC, including its capitalization, the final mining assets to be contributed, the proposed transaction structure and its anticipated trading and reporting structure, as those matters are determined and approved.
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 offers colocation and hosting services for the emerging AI ecosystems and other industries. Another of Hyperscale Data’s wholly owned subsidiaries, Ault Capital Group, Inc. (“ACG”), is a hybrid private equity firm and operating company that acquires, finances, builds and actively manages businesses across financial services, digital assets, industrial services, hospitality, defense technologies and other sectors.
Hyperscale Data currently expects the divestiture of ACG (the “Divestiture”) to occur in 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 and the third wholly owned subsidiary of the Company, Omnipresent Robotics, LLC. 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.
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