Technology firm Hyperscale Data, known for its AI-focused data centers and Bitcoin mining, has announced a significant strategic move: the acquisition of up to 100,000 ounces of silver.
The company plans to accumulate the precious metal gradually, employing a dollar-cost averaging strategy similar to its Bitcoin acquisition approach. Funding for these purchases will be drawn from existing cash reserves and available liquidity.
Executive Chairman Milton “Todd” Ault III highlighted silver as a long-term strategic asset, intended to bolster the firm’s balance sheet and ensure flexibility for future expansion. This initiative follows a recent equity raise that supported asset base expansion, including potential acquisitions of gold, silver, and copper.
The announcement arrives as silver prices have seen a correction from their late January all-time high. Despite recent market movements, the company's shares saw an 8% increase following the news.