Hyperscale Data, Inc. — Director's Dealing 2025

Nov 20, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Hyperscale Data, Inc. (GPUS)
CIK: 0000896493
Period of Report: 2025-09-11

Reporting Person: AULT MILTON C III (N/A)
Reporting Person: Ault & Company, Inc. (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-09-11	Common Stock	P	500	$0.37	Acquired	19750	Direct
2025-11-18	Common Stock	P	3800	$0.2363	Acquired	23550	Direct
2025-11-18	Common Stock	P	205656	$0.2372	Acquired	224905	Indirect
2025-11-19	Common Stock	P	50000	$0.229	Acquired	274905	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-10-31	Class B Common Stock	$0.00	A	1375	Acquired		Common Stock (1375)	Direct
2025-10-31	Class B Common Stock	$0.00	A	10445137	Acquired		Common Stock (10445137)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
13% Series D Cumulative Redeemable Perpetual Preferred Stock	116	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Series C Convertible Preferred Stock	$		Common Stock ()	50000	Indirect
Series G Convertible Preferred Stock	$		Common Stock ()	960	Indirect
Series H Convertible Preferred Stock	$		Common Stock ()	4000	Indirect
Series C Warrants	$118.3875		Common Stock (422337)	422337	Indirect
Series G Warrants	$5.918		Common Stock (162217)	162217	Indirect
October 2023 Warrants	$160.7375		Common Stock (54498)	54498	Indirect

Footnotes

F1: The common stock was purchased by the reporting person in open market transactions on the transaction date, with a volume weighted average purchase price of $0.2363. The range of purchase prices on the transaction date was $0.2149 to $0.2439 per share. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each price.

F2: The common stock was purchased by the reporting person in open market transactions on the transaction date, with a volume weighted average purchase price of $0.2372. The range of purchase prices on the transaction date was $0.2315 to $0.2432 per share. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each price.

F3: Milton C. Ault, III, is the Chief Executive Officer of Ault & Company, Inc. ("Ault & Co.") and is deemed to beneficially own the shares held by Ault & Co.

F4: Each share of Class B Common Stock is convertible into one share of Class A Common Stock.

F5: The Class B Common Stock does not expire.

F6: Received as stock dividend from Issuer.

F7: As of November 20, 2025, the Series C Conversion Price was $0.324 per share, so each share of Series C Convertible Preferred Stock is convertible into approximately 3,086.42 shares of Class A Common Stock.

F8: Each share of Series C Convertible Preferred Stock has a stated value of $1,000.00 and is convertible into shares of Class A Common Stock at a conversion price equal to the greater of (i) $0.10 per share and (ii) the lesser of (A) $183.58 or (B) 105% of the volume weighted average price of the Class A Common Stock during the ten trading days immediately prior to the date of conversion (the "Series C Conversion Price"). The Series C Conversion Price is subject to adjustment in the event of an issuance of Class A Common Stock at a price per share lower than the Series C Conversion Price then in effect, as well as upon customary stock splits, stock dividends, combinations or similar events.

F9: The Series C Convertible Preferred Stock has no expiration date.

F10: As of November 20, 2025, the Series G Conversion Price was $0.324 per share, so each share of Series G Convertible Preferred Stock is convertible into approximately 3,086.42 shares of Class A Common Stock.

F11: Each share of Series G Convertible Preferred Stock has a stated value of $1,000.00 and is convertible into shares of Class A Common Stock at a conversion price equal to the greater of (i) $0.10 per share and (ii) the lesser of (A) $6.74 or (B) 105% of the volume weighted average price of the Class A Common Stock during the ten trading days immediately prior to the date of conversion (the "Series G Conversion Price"). The Series G Conversion Price is subject to adjustment in the event of an issuance of Class A Common Stock at a price per share lower than the Series G Conversion Price then in effect, as well as upon customary stock splits, stock dividends, combinations or similar events.

F12: The Series G Convertible Preferred Stock has no expiration date

F13: As of November 20, 2025, the Series H Conversion Price was $0.324 per share, so each share of Series H Convertible Preferred Stock is convertible into approximately 3,086.42 shares of Class A Common Stock.

F14: Each share of Series H Convertible Preferred Stock has a stated value of $1,000.00 and is convertible into shares of Class A Common Stock at a conversion price equal to the greater of (i) $0.10 per share and (ii) the lesser of (A) $0.79645 or (B) 105% of the volume weighted average price of the Class A Common Stock during the ten trading days immediately prior to the date of conversion (the "Series H Conversion Price"). The Series H Conversion Price is subject to adjustment in the event of an issuance of Class A Common Stock at a price per share lower than the Series H Conversion Price then in effect, as well as upon customary stock splits, stock dividends, combinations or similar events.

F15: The Series H Convertible Preferred Stock has no expiration date.

F16: The October 2023, the Series C Warrants and the Series G Warrants have a five-year term, expiring on the fifth anniversary of the date of issuance, and become exercisable on the first business day after the six-month anniversary of the date of issuance.