Hyperscale Data, Inc., the NYSE American-listed artificial intelligence data center company, announced on September 22, 2026 that it is taking steps to form a new subsidiary called Patriot BTC, designed to house its cryptocurrency mining operations as a distinct business separate from its Michigan AI data center strategy.

A Clean Break Between Two Business Lines

The Las Vegas-based company, which trades under the ticker GPUS, said it intends to transfer all operating assets used in its cryptocurrency mining operations to Patriot BTC.

Those assets are expected to include the company's Montana data center, Bitcoin miners, mining equipment, and related infrastructure. The move is intended to draw a clear operational and strategic line between the mining business and the company's Michigan AI data center ambitions.

Executive Chairman Milton "Todd" Ault III framed the decision as one driven by the inherent differences between the two businesses. "Bitcoin mining and AI data center development have different capital requirements, operating priorities and value drivers," Ault said in the announcement.

"Separating the businesses is intended to give each a clearer mandate and allow us to remain focused on positioning the Michigan facility for a potential sale, public-company transaction or internally funded development."

Ault added that the separation is intended to allow stockholders and the market to evaluate the mining business on its own merits, with what he described as a distinct identity, focused leadership and a strategy tailored to the digital asset sector.

What Patriot BTC Would Hold

According to the announcement, Patriot BTC is anticipated to initially hold two principal groups of assets. The first is the company's Montana data center along with related Montana assets and infrastructure. The second is the company's Bitcoin miners, mining equipment, and associated Bitcoin mining infrastructure.

Hyperscale Data said that by consolidating mining assets within a dedicated subsidiary, it believes Patriot BTC can offer greater transparency into the value, operations, and financial performance of the cryptocurrency mining business. The company described Patriot BTC as intended to become a focused Bitcoin mining and infrastructure company that would generate its own Bitcoin through its mining operations.

A Potential Path to Public Markets

The announcement outlined that management may recommend to the board of directors that Patriot BTC be positioned within a publicly traded entity, whether through a separation or another transaction structure. The company said it is evaluating potential structures to accomplish this objective but has not selected or approved a specific transaction structure at this time.

Hyperscale Data was explicit that the formation of Patriot BTC has not yet been completed, and that no transaction structure or separation involving the new subsidiary has been approved.

The company listed a range of conditions that any proposed transaction would be subject to, including approval by the Hyperscale Data board of directors, applicable federal and state securities laws, NYSE American and other trading market requirements, tax and accounting considerations, and the determination of appropriate capitalization for Patriot BTC.

The company stated plainly that there can be no assurance that Patriot BTC will be formed as currently contemplated, that any proposed transaction will be approved or completed, that Patriot BTC will become publicly traded, or as to the timing or final structure of any such transaction.

Management Focus Under the New Structure

Under the proposed arrangement, Patriot BTC's leadership would concentrate on mining economics, fleet performance, power costs and related infrastructure.

Meanwhile, the management teams of Alliance Cloud Services and Sentinum, Hyperscale Data's wholly owned data center subsidiary, would direct their attention toward financing, developing and strategically positioning the Michigan AI data center.

The company said the separation is intended to align management attention and capital allocation with the distinct needs of each business and improve transparency into their respective operations and financial performance. It also described the separation as paving the way for the Michigan facility to operate as a standalone, single-purpose AI data center business.

Context Within Hyperscale Data's Broader Structure

Hyperscale Data operates through several subsidiaries. Through Sentinum, Inc., it owns and operates a data center offering colocation and hosting services for artificial intelligence ecosystems and other industries.

Another wholly owned subsidiary, Ault Capital Group, Inc., functions as a hybrid private equity firm and operating company that acquires, finances, builds, and actively manages businesses across financial services, digital assets, industrial services, hospitality, defense technologies, and other sectors. The company noted in its announcement that it currently expects the divestiture of Ault Capital Group.

Hyperscale Data said it expects to provide additional information regarding Patriot BTC as matters related to capitalization, the final mining assets to be contributed, the proposed transaction structure, and its anticipated trading and reporting structure are determined and approved by the company.

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