Hyperscale Data, Inc. Announces Preliminary 2024 Results: $108.8 Million in Revenue, $150.3 Million Pro Forma with Giga-tronics
Hyperscale Data (NYSE: GPUS) reported preliminary unaudited financial results for 2024, with total revenue of $108.8 million and pro forma revenue of $150.4 million including Giga-tronics.
Revenue breakdown:
- Sentinum: $30.6M from crypto mining, $0.9M from real estate leases
- Ault Capital Group (ACG): $77.3M from energy, fintech, hotels, and tech investments
- Giga-tronics (deconsolidated): $41.6M from defense operations
The company is transforming into a pure-play AI data center operator by end-2025, planning to divest ACG. Their 34.5-acre Michigan data center facility aims to increase power capacity from 30MW to 340MW, focusing on high-performance computing and AI infrastructure. Giga-tronics filed for Chapter 11 bankruptcy in August 2024, with potential reconsolidation pending successful restructuring.
Hyperscale Data (NYSE: GPUS) ha riportato risultati finanziari preliminari non verificati per il 2024, con un fatturato totale di 108,8 milioni di dollari e un fatturato pro forma di 150,4 milioni di dollari inclusi i Giga-tronics.
Ripartizione dei ricavi:
- Sentinum: 30,6 milioni di dollari provenienti dal mining di criptovalute, 0,9 milioni di dollari da affitti immobiliari
- Ault Capital Group (ACG): 77,3 milioni di dollari da investimenti in energia, fintech, hotel e tecnologia
- Giga-tronics (deconsolidato): 41,6 milioni di dollari da operazioni di difesa
L'azienda si sta trasformando in un operatore di data center AI puro entro la fine del 2025, pianificando di dismettere ACG. Il loro centro dati in Michigan di 34,5 acri mira ad aumentare la capacità energetica da 30MW a 340MW, concentrandosi su calcolo ad alte prestazioni e infrastruttura AI. Giga-tronics ha presentato istanza di fallimento ai sensi del Capitolo 11 nell'agosto 2024, con una potenziale riconsolidazione in attesa di una ristrutturazione di successo.
Hyperscale Data (NYSE: GPUS) reportó resultados financieros preliminares no auditados para 2024, con ingresos totales de 108,8 millones de dólares y ingresos pro forma de 150,4 millones de dólares incluyendo Giga-tronics.
Desglose de ingresos:
- Sentinum: 30,6 millones de dólares de la minería de criptomonedas, 0,9 millones de dólares de arrendamientos inmobiliarios
- Ault Capital Group (ACG): 77,3 millones de dólares de inversiones en energía, fintech, hoteles y tecnología
- Giga-tronics (deconsolidado): 41,6 millones de dólares de operaciones de defensa
La empresa se está transformando en un operador de centro de datos de IA puro para finales de 2025, planeando desinvertir ACG. Su instalación de centro de datos de 34,5 acres en Michigan tiene como objetivo aumentar la capacidad energética de 30MW a 340MW, enfocándose en computación de alto rendimiento e infraestructura de IA. Giga-tronics solicitó bancarrota bajo el Capítulo 11 en agosto de 2024, con una posible reconsolidación pendiente de una reestructuración exitosa.
하이퍼스케일 데이터 (NYSE: GPUS)는 2024년 예비 감사되지 않은 재무 결과를 보고했으며, 총 수익은 1억 8백만 달러, Giga-tronics를 포함한 프로 포르마 수익은 1억 5천4백만 달러입니다.
수익 분 breakdown:
- Sentinum: 암호화폐 채굴에서 3천6백만 달러, 부동산 임대에서 90만 달러
- Ault Capital Group (ACG): 에너지, 핀테크, 호텔 및 기술 투자에서 7천7백3십만 달러
- Giga-tronics (비연결): 방위 운영에서 4천1백6십만 달러
회사는 2025년 말까지 순수 AI 데이터 센터 운영자로 전환하고 ACG를 매각할 계획입니다. 미시간에 위치한 34.5에이커 데이터 센터 시설은 전력 용량을 30MW에서 340MW로 증가시키는 것을 목표로 하며, 고성능 컴퓨팅 및 AI 인프라에 집중하고 있습니다. Giga-tronics는 2024년 8월에 챕터 11 파산을 신청했으며, 성공적인 재구성을 통해 재통합이 진행될 가능성이 있습니다.
Hyperscale Data (NYSE: GPUS) a rapporté des résultats financiers préliminaires non audités pour 2024, avec un chiffre d'affaires total de 108,8 millions de dollars et un chiffre d'affaires pro forma de 150,4 millions de dollars incluant Giga-tronics.
Répartition des revenus :
- Sentinum : 30,6 millions de dollars provenant du minage de cryptomonnaies, 0,9 million de dollars provenant de baux immobiliers
- Ault Capital Group (ACG) : 77,3 millions de dollars provenant d'investissements dans l'énergie, la fintech, les hôtels et la technologie
- Giga-tronics (déconsolidé) : 41,6 millions de dollars provenant des opérations de défense
L'entreprise se transforme en opérateur de centre de données IA pur d'ici fin 2025, prévoyant de céder ACG. Leur installation de centre de données de 34,5 acres dans le Michigan vise à augmenter la capacité énergétique de 30 MW à 340 MW, en se concentrant sur le calcul haute performance et l'infrastructure IA. Giga-tronics a déposé une demande de faillite en vertu du Chapitre 11 en août 2024, avec une reconsolidation potentielle en attente d'une restructuration réussie.
Hyperscale Data (NYSE: GPUS) hat vorläufige, ungeprüfte Finanzzahlen für 2024 veröffentlicht, mit einem Gesamtumsatz von 108,8 Millionen US-Dollar und einem Pro-Forma-Umsatz von 150,4 Millionen US-Dollar, einschließlich Giga-tronics.
Umsatzaufteilung:
- Sentinum: 30,6 Millionen US-Dollar aus dem Kryptowährungs-Mining, 0,9 Millionen US-Dollar aus Immobilienmieten
- Ault Capital Group (ACG): 77,3 Millionen US-Dollar aus Energie-, Fintech-, Hotel- und Technologieinvestitionen
- Giga-tronics (dekonsoidiert): 41,6 Millionen US-Dollar aus Verteidigungsoperationen
Das Unternehmen wandelt sich bis Ende 2025 zu einem reinen KI-Datenzentrumsbetreiber und plant, ACG zu veräußern. Ihre 34,5 Hektar große Datenzentrumsanlage in Michigan zielt darauf ab, die Leistungskapazität von 30 MW auf 340 MW zu erhöhen, mit Fokus auf Hochleistungsrechnen und KI-Infrastruktur. Giga-tronics beantragte im August 2024 Insolvenz nach Kapitel 11, mit einer möglichen Rekonsolidierung, die von einer erfolgreichen Restrukturierung abhängt.
- Significant revenue of $108.8M with $150.4M pro forma
- Planned expansion of data center power capacity from 30MW to 340MW
- Strategic transformation into pure-play AI data center operator
- Substantial crypto mining revenue of $30.6M
- Giga-tronics subsidiary bankruptcy and deconsolidation
- Multiple risks and uncertainties in power upgrade completion
- Heavy reliance on crypto mining revenue in data center operations
- Pending successful restructuring required for Giga-tronics reconsolidation
Insights
Hyperscale Data's preliminary results reveal a company in mid-transformation with $108.8 million in 2024 revenue. The financial breakdown exposes critical insights for investors: Ault Capital Group (the private equity division planned for divestiture) contributed
The Chapter 11 bankruptcy filing for Giga-tronics creates material uncertainty. This deconsolidated subsidiary contributed
The planned corporate transformation represents a dramatic revenue profile shift. By divesting its largest revenue contributor (ACG) to focus exclusively on AI infrastructure, Hyperscale is essentially becoming a different company. This raises immediate questions about near-term revenue replacement and the capital requirements for the ambitious 11x power capacity expansion from 30MW to 340MW. The company's disclosure of multiple risks to this expansion plan, including financing challenges, suggests potential capital raises may be necessary.
The preliminary results lack critical metrics including profit margins, operational costs, and cash position - essential data points for evaluating the viability of Hyperscale's strategic pivot into the capital-intensive data center market amid intensifying competition in AI infrastructure.
Hyperscale's planned expansion from 30MW to 340MW represents an extraordinarily ambitious scaling effort that would position their Michigan facility among significant AI infrastructure providers. This 34.5-acre site with 617,000 square feet offers substantial development potential, but the 11-fold power capacity increase faces formidable technical and logistical challenges beyond the financing concerns mentioned.
The revenue breakdown reveals a critical insight: despite positioning as an AI infrastructure play, the current data center revenue comes overwhelmingly from crypto mining (
The power upgrade timeline isn't specified, but such extensive expansion typically requires 18-36 months for substation construction, transmission infrastructure upgrades, and cooling system implementation. The multiple contingencies highlighted (regulatory approvals, easements, rights-of-way) represent significant potential bottlenecks in a competitive market where speed-to-deployment is critical.
Particularly concerning is the lack of detail regarding secured customer commitments for this expanded capacity. Major hyperscalers and AI companies typically pre-contract significant power blocks before such expansions commence. The transition from crypto mining to AI workloads also requires different technical specifications and cooling architectures, necessitating substantial facility modifications beyond simple power increases.
This transformation represents a bet on the growing AI infrastructure market, but execution risks are substantially higher than typically seen in established data center operators with proven AI client relationships.
LAS VEGAS, March 03, 2025 (GLOBE NEWSWIRE) -- Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), today reported preliminary unaudited financial results for the year ended December 31, 2024, reflecting significant revenue contributions from its two primary subsidiaries, (i) Sentinum, Inc. (“Sentinum”), whose subsidiary, Alliance Cloud Services, LLC (“ACS”) owns the Michigan data center (the “Data Center”), which is focused on high-performance computing (“HPC”) services powering artificial intelligence (“AI”) infrastructure and (ii) Ault Capital Group, Inc. (“ACG”), which operates as a hybrid private equity firm. The Company also reaffirmed its commitment to transforming into a pure-play AI data center operator by the end of 2025.
2024 Unaudited Preliminary Financial Highlights:
- Total revenue:
$108.8 million ; - Pro forma revenue (including Giga-tronics defense unit):
$150.4 million ; - Sentinum revenue:
$30.6 million from crypto mining and$0.9 million from real estate leases; - ACG revenue:
$77.3 million across energy, fintech, hotels and technology investments; and - Giga-tronics defense unit (deconsolidated and discontinued operations):
$41.6 million in revenue.
Giga-tronics
On August 14, 2024, Giga-tronics, Inc. (“Giga-tronics”), filed a petition for reorganization under Chapter 11 of the bankruptcy laws. The filing placed Giga-tronics under the control of the bankruptcy court, which oversees its reorganization and restructuring process. Prior to the bankruptcy, Hyperscale Data consolidated Giga-tronics as a majority owned subsidiary. The Company assessed the inherent uncertainties associated with the outcome of the Chapter 11 reorganization process and the anticipated duration thereof and concluded that it was appropriate to deconsolidate Giga-tronics and its subsidiaries effective on the petition date. Based on the latest restructuring plans submitted to the bankruptcy court, the Company anticipates that it will regain control of Giga-tronics upon successful completion of the plan. If successful, the Company would again consolidate Giga-tronics in its financial statements. There can be no assurances that the restructuring plan will be successful or that the Company will regain control of Giga-tronics.
Strategic Growth in AI Data Centers
Hyperscale Data is working to rapidly advance its AI Data Center. The 34.5-acre facility, including 617,000 square feet of infrastructure, is designed to support HPC and AI applications at scale. The Company recently announced several initiatives and agreements in principle, which if successful, would enable ACS to increase its power capacity at the Data Center from approximately 30 megawatts (“MW”) to approximately 340 MW.
Corporate Transformation: Moving Toward an AI-Focused Future
As previously announced, Hyperscale Data plans to divest itself of ACG by December 31, 2025. Post-separation, Hyperscale Data will operate exclusively as an HPC and AI data center company, led by Chief Executive Officer William B. Horne, President and General Counsel Henry Nisser, and Chief Financial Officer Kenneth S. Cragun.
William B. Horne, Chief Executive Officer of Hyperscale Data, commented, “The separation of Hyperscale Data and ACG marks a pivotal moment for our company and its stockholders. By focusing solely on AI-driven infrastructure, we believe Hyperscale Data will unlock tremendous value. The Data Center is a cornerstone of this transformation, and we expect it to position us at the forefront of the AI revolution. With this transition, we are confident in our ability to drive long-term growth and create a compelling opportunity for our investors.”
The completion of the power upgrades is subject to a number of risks and uncertainties, one or more which could result in the project being curtailed, delayed or terminated, including, but not limited to: failure to agree upon terms and execute definitive agreements; the inability of the Company to raise sufficient funds to pay for the power upgrades; failure to obtain regulatory consents and approvals; the inability to obtain sufficient easements, rights-of-way and land rights necessary to the work to be performed, and other presently unforeseen events or conditions.
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 subsidiaries, Hyperscale Data owns and operates the 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 subsidiary, ACG, is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact.
Hyperscale Data intends to completely divest itself of ACG on or about December 31, 2025, at which time, it would solely be an owner and operator of data centers to support HPC services. Until that happens, the Company provides, through ACG and its wholly and majority-owned subsidiaries and strategic investments, mission-critical products that support a diverse range of industries, including an artificial intelligence software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, ACG is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141.
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 www.hyperscaledata.com.
Hyperscale Data Investor Contact:
IR@hyperscaledata.com or 1-888-753-2235
FAQ
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