Hyperscale Data plans to raise $125 million by selling common stock to purchase BTC and XRP

ChainCatcher news, according to PR Newswire, the diversified holding company Hyperscale Data, listed on the New York Stock Exchange, announced the launch of an "At-The-Market (ATM)" stock issuance plan, intending to sell common stock to raise $125 million, with the related common stock to be issued by Wilson-Davis & Co., Inc. as the sales agent.

A portion of the proceeds from this fundraising will be used to purchase Bitcoin and expand its Michigan data facility, another portion will be used to purchase XRP, and the remaining proceeds will be used for working capital and general corporate purposes, which may include repayment, refinancing, redemption, or repurchase of future debt or equity securities.