<SEC-DOCUMENT>0001214659-25-011373.txt : 20251203
<SEC-HEADER>0001214659-25-011373.hdr.sgml : 20251203
<ACCEPTANCE-DATETIME>20250801173332
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001214659-25-011373
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250801

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Hyperscale Data, Inc.
		CENTRAL INDEX KEY:			0000896493
		STANDARD INDUSTRIAL CLASSIFICATION:	OIL & GAS FILED MACHINERY & EQUIPMENT [3533]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				941721931
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		11411 SOUTHERN HIGHLANDS PARKWAY
		STREET 2:		SUITE 190
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89141
		BUSINESS PHONE:		(949) 444-5464 3679

	MAIL ADDRESS:	
		STREET 1:		11411 SOUTHERN HIGHLANDS PARKWAY
		STREET 2:		SUITE 190
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89141

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Ault Alliance, Inc.
		DATE OF NAME CHANGE:	20230103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BitNile Holdings, Inc.
		DATE OF NAME CHANGE:	20211213

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Ault Global Holdings, Inc.
		DATE OF NAME CHANGE:	20210119
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>HYPERSCALE DATA, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">11411 Southern Highlands Parkway, Suite 240</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Las Vegas, NV 89141</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">August 1, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>VIA EDGAR AND ELECTRONIC MAIL</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Office of Energy &amp; Transportation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">100 F Street, NE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Washington, DC 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Attn:</TD><TD STYLE="text-align: justify">Cheryl Brown &amp; Daniel Morris</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>Re:</B></TD><TD STYLE="text-align: justify"><B>Hyperscale Data, Inc. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><B>Registration Statement on Form S-3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><B>Filed July 18, 2025</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><B>File No. 333-288778</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Ms. Brown and Mr. Morris:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Hyperscale Data, Inc. (the &ldquo;<B>Company</B>&rdquo;)
hereby submits a response to comments made by the staff (the &ldquo;<B>Staff</B>&rdquo;) of the Securities and Exchange Commission (the
&ldquo;<B>Commission</B>&rdquo;) in its letter dated August 1, 2025 (the &ldquo;<B>Comment Letter</B>&rdquo;) relating to the Registration
Statement on Form S-3 (the &ldquo;<B>Registration Statement</B>&rdquo;) referenced above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&rsquo;s response is numbered to correspond
to the Staff&rsquo;s comment. For your convenience, the Staff&rsquo;s comment contained in the Comment Letter has been restated below
in its entirety, with the Company&rsquo;s response set forth immediately beneath the comment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Registration Statement on Form S-3</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>General</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Comment No. 1</U>. It appears that the aggregate
market value of your common equity held by nonaffiliates during the 60 days prior to July 18, 2025 did not exceed the $75 million threshold
that General Instruction I.B.1 of Form S-3 specifies. Please provide us with your analysis demonstrating your ability to use Form S-3
pursuant to General Instruction I.B.1, or if you are relying on General Instruction I.B.6 for Form S- 3 eligibility, include the information
required pursuant to Instruction 7 to General Instruction I.B.6. Alternatively, please amend your registration statement on an appropriate
form.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Response No. 1</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company respectfully advises the Staff that
the Registration Statement was filed pursuant to General Instruction I.B.1 of Form S-3. Further, the Company respectfully advises the
Staff that the aggregate market value of the outstanding voting and non-voting shares of the Company&rsquo;s class A common stock, par
value $0.001 per share (the &ldquo;<B>Common Stock</B>&rdquo;), held by non-affiliates (the &ldquo;<B>Public Float</B>&rdquo;) during
the sixty (60) days prior to July 18, 2025 exceeded the $75 million threshold that General Instruction I.B.1 of Form S-3 specifies, making
the Company eligible to use Form S-3 pursuant to such General Instruction I.B.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In particular, as disclosed in the Company&rsquo;s
Current Report on Form 8-K, filed with the Commission on July 16, 2025, the Company had 19,314,883 shares of Common Stock outstanding
as of July 15, 2025. As of July 15, 2025, affiliates of the Company, consisting solely of executive officers and directors of the Company,
held 9,851 shares of Common Stock. For the avoidance of doubt, to the Company's knowledge, no stockholders hold 10% or more of the outstanding
Common Stock. In accordance with Securities Act Forms Compliance and Disclosure Interpretation 116.06, the Company selected June 9, 2025,
such date being 39 days prior to July 18, 2025 (the date of filing of the Registration Statement), as the date for determining the price
of the Common Stock for calculating the Public Float. On that date, the Common Stock closed on the NYSE American at a price of $4.82.
Accordingly, the Company calculated its Public Float as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 82%; text-align: left">Common Stock Outstanding (July 15, 2025)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right">19,314,883</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Common Stock Outstanding and Beneficially Owned by Affiliates (July 15, 2025)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">9,851</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Common Stock Outstanding Held by Non-Affiliates (July 15, 2025)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,305,032</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Common Stock Closing Price (June 9, 2025)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4.82</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Public Float</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">93,050,254</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">As such, the Company&rsquo;s
Public Float was $93,050,254 as of the applicable calculation date of July 15, 2025, a date within 60 days of the filing of the Registration
Statement, making the Company eligible to use Form&nbsp;S-3&nbsp;pursuant to General Instruction I.B.1 of Form S-3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">* * *</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Should you have any questions regarding the foregoing,
please do not hesitate to contact the undersigned at (949) 444-5464 or our President &amp; General Counsel, Henry Nisser, at (646) 650-5044
or Henry@ault.com.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Very truly yours,</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR>
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 50%; text-align: justify"><U>&nbsp;/s/ William B. Horne</U></TD></TR>
  <TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">William B. Horne</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Chief Executive Officer</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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