Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance,” or the “Company”), today announced its wholly owned subsidiary Sentinum, Inc. (“Sentinum”), as of July 31, 2024, has mined 552 Bitcoin in 2024 at the Company’s data centers in Michigan and Montana along with miners hosted by Core Scientific, Inc., further solidifying its position in the Bitcoin mining industry. This achievement contributes to Sentinum’s cumulative total of 2,894 Bitcoin mined since the inception of its operations.
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Michigan Data Center 2024 Interior View. All copyrights reserved @2024
In addition to these achievements, the Company is committed to expanding its data center infrastructure. The Company is actively exploring the potential availability of additional power in Montana to enhance Sentinum’s operational capacity. Furthermore, the Company is making strides in Michigan, where it plans to transform its existing data center into a hyperscale facility.
Will Horne, CEO of Ault Alliance, emphasized the Company’s commitment to scaling its Michigan data center, “We are dedicated to building our Michigan data center into a hyperscale facility. We are currently exploring opportunities to lease all 30 megawatts (“MWs”) of capacity to customers, with some expressing long-term interest to lease significantly more MWs if we are able to expand the data center’s capacity to 300 MWs. Combined with our data center in Montana, we believe we have the ability to significantly expand the number of MWs of power that may be available in the future. We see significant future value in our data center operations.”
As part of its strategic refocus, the Company recently announced it intends to change its name to Hyperscale Data, Inc. (“Hyperscale Data”) and issue one or more special dividends to stockholders of stock in its subsidiaries that are not related to the artificial intelligence (“AI”) data-center business. This move reflects the Company’s intention to concentrate its resources and efforts on the development and expansion of its Michigan and Montana facilities within the data center space. The spin-off will allow the Company to streamline operations and focus on growing its AI digital infrastructure business.
Milton “Todd” Ault III, Executive Chairman of Ault Alliance, added, “My day-to-day role will be focused on the subsidiaries that will be spun out. Other than my board duties, I currently do not plan to be involved in the executive leadership of the Hyperscale Data company. We expect Will Horne and Jay Looney will lead the executive team in Hyperscale Data, which will be focused on growing the core business.”
The Company also announced plans to update its Bitcoin mining results on a quarterly basis, providing regular insights into the performance and progress of its mining operations. Looking ahead, Will Horne remarked, “We expect the AI-driven data centers to generate greater long-term revenues than Bitcoin. Our focus on these cutting-edge facilities is central to our growth strategy and long-term vision.”
Ault Alliance notes that all estimates and other projections are subject to the volatility in Bitcoin market price, the fluctuation in the mining difficulty level, maintaining sufficient amount of power to continuously mine Bitcoin at current levels, the ability to build out and provide the necessary power for miners, and other factors that may impact the results of Bitcoin mining production or operations.
Please note that the terms of any special dividend, including the timing of the issuance of any such dividends, are not provided within this press release. Stockholders should refer to the Company’s official announcements, as and when announced. Any such special dividends will be subject to various regulatory requirements and approvals, including but not limited to board approval, NYSE American approval, NYSE American rules and regulations, the potential requirement to file one or more registration statements with the Securities and Exchange Commission, the availability of requisite financing and market conditions, among other matters. There are no assurances that the Company will be able to obtain the necessary approvals or be able to comply with the required corporate governance requirements. The Company will provide further information as developments so warrant.
This press release is for informational purposes only and neither does nor shall constitute an offer to sell, nor the solicitation of an offer to purchase, shares of the Company’s common stock or any other securities of the Company. No distribution will be made to any person in any jurisdiction in which such offer, solicitation or sale is unlawful. Any distribution of securities will be made only in compliance with all applicable rules and regulations.
For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or available at www.sec.gov.
About Ault Alliance, Inc.
Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.Ault.com.
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