Hyperscale Data Cuts ATM Offering Program Cap to $100 Million

Hyperscale Data reduced its at-the-market share offering program to $100 million from $300 million. The program has produced approximately $49.8 million in gross proceeds.

The company has sold about 121.8 million shares through the program. The sales generated roughly 41 cents per share in gross proceeds.

The financing update comes as Hyperscale Data works to shift its Michigan facility toward artificial intelligence infrastructure. The company previously held 219.0652 Bitcoin as it pursued the Michigan site’s shift to artificial intelligence operations.

As of Sept. 27, Hyperscale Data held 219.0652 Bitcoin (BTC) valued at about $18.5 million, along with approximately $37.5 million in cash and restricted cash.