Hyperscale Data, a Bitcoin treasury company, plans to issue preferred shares to raise $35.4 million

According to PR Newswire, Bitcoin treasury company Hyperscale Data announced the launch of an ATM equity issuance plan, aiming to raise $35.4 million through the issuance of Series D cumulative redeemable preferred stock.

The net proceeds will be used to increase Bitcoin holdings, as well as to purchase precious metals, including gold, silver, and/or copper, and will also be used for working capital and general corporate purposes, including repayment, refinancing, redemption, or repurchase of future debt or equity.