Current Bitcoin Mining Operations Annual Run Rate of Approximately $78 Million
LAS VEGAS--(BUSINESS WIRE)--$AGREE #151_Bitcoin_Mined_December_2023--Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance,” or the “Company”), announced today that its wholly owned subsidiary, Sentinum, Inc. (“Sentinum”) mined approximately 151 Bitcoin in December 2023. Of this total, approximately 77 Bitcoin were mined at Sentinum’s data center in Michigan, with the remaining approximately 74 Bitcoin from mining machines hosted with Core Scientific, Inc. (“Core”). The December 2023 mining run rate of approximately $6.5 million marks the highest single monthly run rate for Bitcoin miners in the Company’s history. The December mining operations represent a current Bitcoin mining operations annual run rate of approximately $78 million worth of Bitcoin. The mining run rate is based upon a current Bitcoin price of approximately $43,000.
William B. Horne, Chief Executive Officer of Ault Alliance, stated, “Reaching this milestone represents a significant stride forward for the Company. We are immensely satisfied with the progress and overall performance of our mining operations, particularly those of Sentinum. We believe that Sentinum is in an excellent position to sustain its track record of producing impressive monthly revenues. This is largely due to our ongoing efforts to streamline operations and the upcoming transfer of some of our mining rigs hosted by Core to our Montana site. It is important to recognize that we believe that the current trading price of our stock does not fully capture the intrinsic value that Sentinum adds to our company.”
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, 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.
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 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, consumer electronics, 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.
Contacts
Ault Alliance Investor Contact:
IR@Ault.com or 1-888-753-2235