Hyperscale Data (GPUS) Guidance summary

Executive summary

• Leadership team includes experienced executives with deep industry and public company backgrounds.

• Strategic focus on building a $300M–$350M enterprise in the next year, emphasizing growth and operational discipline.

• Transitioning from Bitcoin mining to diversified operations in data centers, lending, robotics, and digital assets.

• Portfolio includes a large Michigan data center, financial services, defense, industrial, and hospitality businesses.

Financial highlights

• Revenue guidance for 2027 is $300M–$350M, up from $102M in 2025, reflecting aggressive growth.

• Data center projected to generate $40M–$50M in 2027, with further capacity expansion planned.

• Portfolio companies contribute stable EBITDA, with Crane generating ~$10M annually.

• Financial services and lending produced $9M–$10M in revenue last quarter, with additional $16M from subsidiaries.

• Blockchain operations generated $3M–$3.5M in margin in the first half of the year.

Outlook and guidance

• Expectation to achieve $60M–$80M of adjusted EBITDA on $300M–$350M sales in 2027.

• Data center margins estimated at 65%, lending margins at 85%, with significant growth anticipated in 2028 and beyond.

• Expansion plans include increasing Michigan data center capacity to 300 MW over five years.

• Quarterly EBITDA reporting to begin in 2027, with ongoing focus on reducing dilution and corporate overhead.

• Guidance based on detailed operating forecasts and anticipated contributions from major platforms.