Hyperscale Data sits on $71 million in Bitcoin with a $56 million market cap – Here is why its not a bargain

Jul. 29, 2026 at 5:45 pm GMT • 2 min read 01 Hyperscale Data disclosed 1,106 Bitcoin worth about $71.7 million, roughly $15 million above its market cap. 02 $216.7 million in liabilities and a $90.1 million preferred claim complicate the apparent treasury discount. 03 A $300 million ATM and planned ACG divestiture leave common shareholders’ eventual claim uncertain.The market values Hyperscale Data’s common equity below its disclosed Bitcoin holdings. Whether that gap belongs to common shareholders is a much harder question.The company said Tuesday that its wholly owned Sentinum and Ault Capital Group subsidiaries held 1,106.0467 Bitcoin as of July 27. It valued the combined position at about $71.7 million using a Bitcoin closing price of $64,784.A MarketWatch quote backed by FactSet placed Hyperscale Data’s market capitalization near $56.4 million after the July 28 close. The adjacent-day figures leave the disclosed gross Bitcoin value roughly $15 million above the equity value, even before assigning anything to the company’s data centers or other businesses.That comparison differs from net asset value. A May 18 quarterly filing covering March 31, well before the current Bitcoin t...