LAS VEGAS--(BUSINESS WIRE)--$AGREE #28MW_of_power--Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance,” or the “Company”), today announced that its wholly owned subsidiary, Sentinum, Inc. (“Sentinum”) is now capable of accepting for deployment up to 40 artificial intelligence (“AI”) clusters consisting of memory, data storage, networking components with advanced GPU's from Nvidia and AMD, at its state of the art Michigan data center. During the second quarter of 2023, Sentinum began adjusting its electrical resources at the Michigan data center in anticipation of needing to support the significant increase in computing demand being driven by AI applications. It is expected that the potential addition of AI processing workloads will operate concurrently with Sentinum’s Bitcoin mining operations.
In addition, as Sentinum’s new facility in Montana becomes operational, Sentinum intends to further expand the high-performance computing (“HPC”) and AI services at that location. These AI clusters, powered by industry-leading technology from Nvidia and AMD, along with the provision of enterprise-class servers and storage devices, will be facilitated through the Company’s subsidiary, Alliance Cloud Services, LLC, and delivered from the Michigan facility, located within a 617,000 square foot area on a 34.5-acre site in southern Michigan. The data center, which is strategically positioned near power production sites, boasts a current capacity of approximately 28MWs of power, and is not only energy-efficient but prepared for future upgrades to reach approximately 300MWs.
Milton “Todd” Ault III, Executive Chairman of Ault Alliance, expressed his enthusiasm about the new developments, “The deployment of AI clusters at our Michigan data center represents a pivotal step in our technological advancement and strategic growth. These state-of-the-art AI clusters are expected to significantly enhance our capabilities to support generative AI and machine learning, without disrupting our current Bitcoin mining operations. As we bring our Montana facility online over the next several months, we anticipate further expanding our HPC infrastructure and AI capabilities, solidifying our position in the market. This innovative approach is not only a testament to our commitment to leveraging the latest technology, but we believe also positions us for substantial financial growth. In light of our significant achievements and the current state of Bitcoin mining at a $60 million Bitcoin production run rate, it is perplexing that our market capitalization has not reflected these positive developments. We believe this discrepancy presents a valuable opportunity for market reassessment, as we continue to demonstrate our potential and capabilities.”
At a Bitcoin price of $37,500, Sentinum’s Bitcoin mining operations annual run rate is expected to exceed $60 million worth of Bitcoin. In October 2023, as previously reported, Sentinum mined approximately 135 Bitcoins, with 71 being mined at its Michigan data center and 64 sourced from its hosted machines by Core Scientific, Inc. 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.
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.
Ault Alliance Investor Contact:
IR@Ault.com or 1-888-753-2235