Hyperscale Data, Inc 8-K, filed Oct 27, 2021
Hyperscale Data, Inc. (GPUS)
About this 8-K
Hyperscale Data, Inc filed this 8-K on October 27, 2021.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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CURRENT REPORT
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| ITEM 7.01 | REGULATION FD DISCLOSURE |
On October 27, 2021, Ault Global Holdings, Inc., a Delaware corporation (the “Company”), issued a press release announcing that its subsidiary, BitNile, Inc. (“BitNile”), will begin bimonthly reporting, starting November 15, 2021, of the number of bitcoin (“BTC”) miners installed and the amount of BTC mined at its Michigan data center. The bimonthly reports will be available at www.BitNile.com.
A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated by reference herein.
In accordance with General Instruction B.2 of Form 8-K, the information under this item, Exhibit 99.1 shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing. This report will not be deemed an admission as to the materiality of any information required to be disclosed solely to satisfy the requirements of Regulation FD.
The Securities and Exchange Commission encourages registrants to disclose forward-looking information so that investors can better understand the future prospects of a registrant and make informed investment decisions. This Current Report on Form 8-K and exhibits may contain these types of statements, which are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and which involve risks, uncertainties and reflect the Registrant’s judgment as of the date of this Current Report on Form 8-K. Forward-looking statements may relate to, among other things, operating results and are indicated by words or phrases such as “expects,” “should,” “will,” and similar words or phrases. These statements are subject to inherent uncertainties and risks that could cause actual results to differ materially from those anticipated at the date of this Current Report on Form 8-K. Investors are cautioned not to rely unduly on forward-looking statements when evaluating the information presented within.
Where You Can Find Additional Information
Investors and security holders will be able to obtain documents filed with the Securities and Exchange Commission free of charge at the Commission’s website, www.sec.gov. Security holders may also read and copy any reports, statements and other information filed by the Company with the Commission, at the SEC public reference room at 100 F Street, N.E., Washington D.C. 20549. Please call the Commission at 1-800-SEC-0330 or visit the Commission’s website for further information on its public reference room.
| ITEM 9.01 | FINANCIAL STATEMENTS AND EXHIBITS |
| (d) | Exhibits: |
| Exhibit No. | Description | |
| 99.1 | Press Release issued on October 27, 2021. | |
| 101 | Pursuant to Rule 406 of Regulation S-T, the cover page is formatted in Inline XBRL (Inline eXtensible Business Reporting Language). | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AULT GLOBAL HOLDINGS, INC. | |
| Dated: October 27, 2021 |
/s/ Henry Nisser Henry Nisser President and General Counsel |
Exhibit 99.1
Ault Global Holdings Announces Its Subsidiary, BitNile, Inc., Will Begin Providing Bitcoin Production and Mining Operation Updates on November 15, 2021
Las Vegas, NV, October 27, 2021 – Ault Global Holdings, Inc. (NYSE American: DPW), a diversified holding company (the “Company”), is pleased to announce that its subsidiary, BitNile, Inc. (“BitNile”), will begin bimonthly reporting, starting November 15, 2021, of the number of bitcoin (“BTC”) miners installed and the amount of BTC mined at its Michigan data center. The bimonthly reports will be available at www.BitNile.com. The Company recently reported that it is currently mining approximately $10 million worth of BTC on an annualized run rate basis based on current market conditions. The Company further stated that it anticipates that the production of BTC will grow to about $15 million on an annualized basis by the end of October.
Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “In order to be transparent in a blockchain world predicated on a basis of enabling transparency, the Company will start reporting how many miners are installed as well as how much BTC has been mined. We believe this information is important to our partners and shareholders and are excited about the expected contributions from BitNile to our topline revenues and bottom-line results.”
The Company previously announced a purchase agreement with Bitmain for the expected installation of 3,000 S19j Pro Antminers by the end of August 2022, which are in addition to the 1,000 S19j Pro Antminers received in September 2021, thereby increasing the gross mining revenue to approximately $48 million annually based on an assumed market value of BTC of $45,000. With the current market value of BTC having increased to approximately $66,000, the Company believes that gross proceeds could reach approximately $64 million annually based on current market conditions. The Company notes that all estimates are subject to volatility in price, the fluctuation in the difficulty of production and price of BTC, and other factors that may impact the results of production or operations.
For more information on Ault Global Holdings and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company’s public filings with the SEC and press releases available under the Investor Relations section at www.AultGlobal.com or available at www.sec.gov.
About Ault Global Holdings, Inc.
Ault Global Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Global Holdings’ headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.AultGlobal.com.
Forward-Looking Statements
This press release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.AultGlobal.com.
Contacts:
IR@AultGlobal.com or 1-888-753-2235