Hyperscale Data has launched an ATM stock issuance plan to sell common shares to raise $125 million for the purchase of BTC and XRP.

Golden Finance reports that Hyperscale Data, a diversified holding company listed on the New York Stock Exchange, has announced an "At-The-Market (ATM)" stock issuance plan, intending to sell common stock to raise $125 million. The related common stock will be issued by Wilson-Davis & Co., Inc. and serve as the sales agent. Part of the proceeds from this fundraising will be used to purchase Bitcoin and expand its Michigan data facilities, while another portion will be used to buy XRP. Other proceeds will be used as working capital and for general corporate purposes, which may include repayment, refinancing, redemption, or repurchase of future debts or equity.