Las Vegas – September 22, 2026 -- Hyperscale Data, Inc. (NYSE American: GPUS) is moving to spin off its Bitcoin mining operations into a new subsidiary, Patriot BTC, separating the business from the company's Michigan AI data center strategy.
Patriot BTC would initially hold Montana data center and mining fleet
Under the proposed structure, Hyperscale Data intends to transfer all operating assets tied to its cryptocurrency mining business to Patriot BTC. These include the company's Montana data center and related infrastructure, along with its Bitcoin miners, mining equipment and associated mining infrastructure.
Separation aims to isolate capital allocation and reporting for each business line
Hyperscale Data said the split is designed to align management focus and capital allocation with the distinct needs of mining versus AI infrastructure, while improving financial transparency for each unit. The move would leave the Michigan facility to operate as a standalone, single-purpose AI data center business, managed through subsidiaries Alliance Cloud Services and Sentinum.
Executive Chairman says mining and AI have different capital and operating profiles
Milton "Todd" Ault III, Executive Chairman of Hyperscale Data, said Bitcoin mining and AI data center development carry different capital requirements, operating priorities and value drivers, and that separating the businesses would give each a clearer mandate. He added that the company remains focused on positioning the Michigan facility for a potential sale, public-company transaction or internally funded development.
No transaction structure has been approved; formation remains contingent
Hyperscale Data has not finalized or approved a specific transaction structure for Patriot BTC, and management may recommend to the board that the subsidiary be positioned within a publicly traded entity through a separation or other structure. Any transaction would require board approval, compliance with federal and state securities laws, NYSE American listing requirements, tax and accounting review, and determination of Patriot BTC's capitalization.
The company said there is no assurance Patriot BTC will be formed as currently contemplated, that any transaction will be completed, or that it will become publicly traded. Hyperscale Data expects to disclose further details on Patriot BTC's capitalization, final asset contributions and trading structure as those matters are determined.