Hyperscale Data, Inc. now holds more Bitcoin than its own stock is worth on the open market. The company disclosed this week that it owns over 1,087.4527 BTC — roughly $72.4 million at current prices — spread across subsidiaries Sentinum, Inc. and Ault Capital Group, Inc. Its market capitalization, meanwhile, sits at about $63 million. That means the Bitcoin alone is worth more than the entire company, a situation more common in deeply discounted treasury plays than in publicly traded equities.
How the stack grew
Hyperscale Data has been buying aggressively. During the week ended July 19, Ault Capital Group added roughly 51.5 BTC through open-market purchases. That follows a much larger accumulation spree: the company held 627.9 BTC in late March, meaning it has added about 460 Bitcoin in under four months. The total now sits at 1,087.45 BTC, worth $72.4 million.
Following the Saylor blueprint
The company is openly copying the Bitcoin treasury strategy pioneered by Strategy Inc. (formerly MicroStrategy) under Michael Saylor. Executive Chairman Milton 'Todd' Ault III said the firm holds more than $70 million in Bitcoin and that the market is assigning zero value to its cash, data center, and operating businesses. That's a frank assessment — and one that explains why the stock (GPUS) trades near $0.13 per share.
Hyperscale Data has set a goal of building a $100 million digital asset treasury and reaching full parity between its Bitcoin holdings and market capitalization. Given that its BTC already exceeds the market cap, the next milestone is the $100 million target. The company will need to keep buying — and the market will need to start pricing in the rest of the business — for that gap to close.
