LAS VEGAS, May 15, 2026, 14:04 PDT
- Hyperscale Data said it’s starting a tender offer to buy up to $5 million of Class A stock, offering $0.21 per share.
- The company filed its first-quarter Form 10-Q late. Early numbers point to a net loss near $30 million.
- GPUS traded at $0.146, a touch higher than its last close but still shy of the tender offer price.
Hyperscale Data Inc. said Friday it will launch a tender offer to buy up to $5 million of its Class A common stock for $0.21 a share. According to management, the stock is trading for less than the value shown on the books. The offer will let stockholders sell shares back to Hyperscale Data at that price in an issuer tender offer.
Why is this important? Hyperscale’s GPUS stock hasn’t closed the gap to the proposed tender price, but it surged today on heavy volume. GPUS’s last trade was at $0.146 after swinging from a session high of $0.1869 to a low of $0.1187. Turnover was more than 159 million shares.
The $5 million tender works out to about 23.8 million shares at $0.21 each. The company expects to launch the offer after it files its Form 10-Q for the quarter ended March 31, pending board and regulatory approval and usual closing conditions.
Hyperscale says it won’t file its quarterly report on time, blaming “undue hardship and expense” in a late notice. Still, the company gave a snapshot: first-quarter revenue at about $44 million, up 76% from last year. But net loss is tracking to nearly $30 million, bigger than last year’s $5 million loss.
The wider loss came after a $12 million charge tied to the fall in crypto asset prices, the filing said. Higher G&A and sales and marketing costs also weighed. The company didn’t get the bump it saw last year from removing a subsidiary from its books. It labeled the results as preliminary and said they may change.
Executive Chairman Milton “Todd” Ault said there’s a “material disconnect” between Hyperscale’s value and where its common shares trade now. Ault said the tender offer lets shareholders cash out at a premium and gives the company a way to buy stock it sees as undervalued.
Hyperscale has been pushing its valuation argument for weeks. On May 12, the company said it held 686.7245 Bitcoin along with about $37.8 million in cash and restricted cash as of May 10. That comes to roughly $94.2 million, using a Bitcoin price of $82,139.
Hyperscale, which calls itself an artificial-intelligence data center company linked to Bitcoin, operates Sentinum, a business managing a data center for digital-asset mining and colocation. The firm’s Ault Capital Group unit owns a group of operating businesses. Hyperscale now aims to spin off Ault Capital Group in the second quarter of 2027, the latest statement said.
AI infrastructure names keep ramping up as competition heats up in the sector. CoreWeave is still pushing its cloud, which it says is tailored for AI clients. April saw Applied Digital in the news when it landed a $7.5 billion data center lease with a U.S. hyperscaler. Cipher Mining keeps making the case for its industrial-scale data centers aimed at high-density compute users.
Tender offers clear up some issues, but execution remains tough. Hyperscale still has to get through its quarterly report, secure the usual regulatory sign-offs, and show that what it’s doing with AI, robotics, and data centers can turn into real, steady revenue. So far, the market mostly knows Hyperscale for its volatile Bitcoin holdings and bumpy asset values, not a reliable business model.
The tender offer lands with a set price for shareholders, a number to weigh against where shares trade now. Next up is the delayed 10-Q, which could be another catalyst.
