Hyperscale Data Inc美股招股说明书(2025-11-04版)

Hyperscale Data, Inc. Up to $125 million ofClass A Common Stock This prospectus supplement cancels and supersedes our prospectus supplement, dated August 29, 2025, related to the At-The-MarketIssuance Sales Agreement, dated August 29, 2025, with Wilson-Davis & Co., Inc. (the “Sales Agreement”), as previously disclosed inour Form 8-K filed with the Securities and Exchange Commission on August 29, 2025, and should be read together with theaccompanying prospectus dated August 28, 2025. Between August 29, 2025, the date of the Sales Agreement, and November 4, 2025, we sold an aggregate of 255,490,454 shares of ourClass A Common Stock (“Common Stock”) for aggregate gross proceeds of approximately $125 million. Effective November 4, 2025,we halted all future offers and sales of our Common Stock under the Sales Agreement. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of thesesecurities, or determined if this prospectus supplement or the prospectus to which it relates is truthful or complete. Anyrepresentation to the contrary is a criminal offense. The date of this prospectus supplement is November 4, 2025.