Core Viewpoint - Hyperscale Data, Inc. plans to purchase up to $10 million in XRP to enhance its financial services division through its subsidiary Ault Capital Group, Inc. [1][2] Group 1: Acquisition of XRP - ACG intends to acquire XRP, which will be classified as a crypto asset on the Company's balance sheet at fair value [1] - The acquisition is part of a broader strategy to expand into financial services, including cryptocurrency-based products and tokenization of real-world assets [2][3] - The Company believes that acquiring XRP will enhance liquidity and provide infrastructure support for blockchain-enabled financial products [3] Group 2: Financial Services Expansion - ACG has been successful in the lending business for the past four years and is now looking to broaden its services [2] - The Company aims to leverage XRP for cross-border settlements, real-time payment systems, and decentralized financial applications [3] - This strategic move is seen as a significant step towards integrating modern digital asset solutions into ACG's financial services model [3] Group 3: Future Plans and Divestiture - Hyperscale Data plans to divest ACG by December 31, 2025, focusing solely on data center operations and high-performance computing services thereafter [7] - Until the divestiture, the Company will continue to provide various mission-critical products across multiple industries through ACG [7] - The divestiture will involve an exchange of Series F Preferred Stock for shares of ACG, allowing stockholders to become ACG shareholders [8]
Hyperscale Data Subsidiary Ault Capital Group to Purchase Up to $10 Million of XRP for Expansion of its Financial Services Business