LAS VEGAS–(BUSINESS WIRE)–Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company, today announced that its wholly owned indirect subsidiary, Third Avenue Apartments LLC, has signed a Purchase and Sale Agreement with a large New York based real estate firm, to sell its St. Petersburg development property. The decision to sell the property aligns with the previously announced reorganization efforts and the Company’s desire to streamline operations and create a pure-play data center business.
“We are excited to have reached an agreement for the sale of our St. Petersburg development property, marking a milestone for new growth and investment in the region,” said William Horne, CEO of Hyperscale Data. “This decision reflects our commitment to strategically realign our resources and enhance our core capabilities within our data center operations.”
The sale of the property is expected to close by year-end 2024, but the Company acknowledges that the sale is subject to the completion of due diligence by the purchaser and is not guaranteed to close by December 31, 2024, or at all. The Company will update stockholders upon the closing of the PSA. The Company is confident in the purchaser’s ability to close the transaction and looks forward to the ultimate development of the property and the contributions to the St. Petersburg community.
For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors, and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at https://hyperscaledata.com/ or available at www.sec.gov.
About Hyperscale Data, Inc.
Hyperscale Data, 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, Hyperscale Data owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries. It also provides mission-critical products that support a diverse range of industries, including a social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma, hotel operations and textiles. In addition, Hyperscale Data is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; Hyperscale Data, Inc.
