| Item 1. | |
| (a) | Name of issuer:
Hyperscale Data, Inc. |
| (b) | Address of issuer's principal executive offices:
11411 SOUTHERN HIGHLANDS PARKWAY, SUITE 190, LAS VEGAS, NV 89141 |
| Item 2. | |
| (a) | Name of person filing:
This Schedule 13G is filed by:
(i) SJC Lending, LLC, a Delaware limited liability company ("SJC"), with respect to the shares of Class A Common Stock, par value $0.001 per share, of the Issuer (the "Shares") beneficially owned by it; and
(ii) Steven J. Caspi, as Sole Member of SJC.
Each of the foregoing is referred to as a "Reporting Person" and collectively as the "Reporting Persons." |
| (b) | Address or principal business office or, if none, residence:
The principal business address of the Reporting Persons is 120 Bloomingdale Road, White Plains, NY 10605. |
| (c) | Citizenship:
SJC is organized under the laws of the State of Delaware. Mr. Caspi is a citizen of the United States of America. |
| (d) | Title of class of securities:
Class A Common Stock, par value $0.001 per share |
| (e) | CUSIP Number(s):
09175M879 |
| Item 3. | If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: |
| (a) |  Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
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| (b) | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
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| (c) | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
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| (d) | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
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| (e) | An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
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| (f) | An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
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| (g) | A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
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| (h) | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
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| (i) | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
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| (j) | A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
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| (k) | Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
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| | |
| Item 4. | Ownership |
| (a) | Amount beneficially owned:
As of the close of business on the date hereof, SJC beneficially owned 10,389,404 Shares, including 389,404 Shares issuable upon conversion of 389,404 shares of class B common stock of the Issuer ("Class B Shares"). The Class B Shares are entitled to cast 10 votes for each share.
Mr. Caspi, as Sole Member of SJC, may be deemed to beneficially own the 10,389,404 Shares beneficially owned by SJC. |
| (b) | Percent of class:
The aggregate percentage of Shares reported beneficially owned by the Reporting Persons is based upon 187,077,596 Shares outstanding as of September 14, 2026, which is the total number of Shares outstanding as reported by the Issuer to the Reporting Persons, and 389,404 Shares issuable upon conversion of 389,404 Class B Shares.
As of the close of business on the date hereof, SJC beneficially owned 5.5% of the outstanding Shares.
Mr. Caspi, as Sole Member of SJC, may be deemed to beneficially own the 5.5% of the outstanding Shares beneficially owned by SJC. |
| (c) | Number of shares as to which the person has:
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| | (i) Sole power to vote or to direct the vote:
See Cover Pages Items 5-9.
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| | (ii) Shared power to vote or to direct the vote:
See Cover Pages Items 5-9.
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| | (iii) Sole power to dispose or to direct the disposition of:
See Cover Pages Items 5-9.
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| | (iv) Shared power to dispose or to direct the disposition of:
See Cover Pages Items 5-9.
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| Item 5. | Ownership of 5 Percent or Less of a Class. |
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Not Applicable
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| Item 6. | Ownership of more than 5 Percent on Behalf of Another Person. |
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Not Applicable
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| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. |
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Not Applicable
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| Item 8. | Identification and Classification of Members of the Group. |
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Not Applicable
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| Item 9. | Notice of Dissolution of Group. |
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Not Applicable
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Rule 13d-1(c)