Hyperscale Data Stock In Focus After Firm Announces 640 Bitcoin Mined This Year So Far: Retail Sentiment Improves
By Stocktwits Inc | First Published Nov 29, 2024, 6:49 PM ISTOf the total, 380 Bitcoin were mined at the company’s Michigan facility and the remaining 260 from mining machines previously hosted by Core Scientific, Inc.
Shares of Hyperscale Data Inc ($GPUS), a provider of advanced data center solutions, were in the spotlight on Friday morning after the firm announced it has mined 640 Bitcoin ($BTC.X) year to date through Nov. 26. This amounts to over $62 million considering an average price of $97,000.
Of the total, 380 Bitcoin were mined at the company’s Michigan facility and the remaining 260 from mining machines previously hosted by Core Scientific, Inc. ($CORZ).
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CEO William B. Horne expressed optimism on the firm’s Bitcoin mining operations while highlighting that it is transitioning to a pure-play artificial intelligence (AI) data center business.
Bitcoin prices have shot up to above the $97,300 level as of Friday morning after hitting a low of approximately $91,000 in profit-booking seen after the crypto asset attempted nudging the crucial $100,000 mark.
Following the announcement, retail sentiment on Stocktwits inched-up into the ‘neutral’ territory (47/100) from ‘bearish’ a day ago.
In early November, Hyperscale Data had announced the initiation of a pilot project aimed at exploring the feasibility of Bitcoin mining in the Gulf of Mexico.
As part of the project, Hyperscale Data will install a mobile data center with approximately 100 Bitcoin miners on its partner’s structure, which is a platform that collects gas from various offshore wells, for further transportation onshore.
“This mobile data center will utilize the electrical power generated from gas that is being held, but not ready for transportation, demonstrating an innovative approach to energy utilization, monetizing stranded assets and digital currency production,” the firm had said.
Recently, Hyperscale Data announced that it plans to issue a special one-time dividend of one million shares of a newly designated Series F exchangeable preferred stock to all common stockholders and holders of the Series C convertible preferred stock.
Stockholders who own the company’s stock at the close of trading on Dec. 13 will be eligible to receive the shares of Series F preferred stock.
Meanwhile, shares of the firm have lost over 92% on a year-to-date basis.
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