LAS VEGAS--(BUSINESS WIRE)--Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance,” or the “Company”), today announced its wholly-owned subsidiary, Sentinum, Inc. (“Sentinum”), mined a total of 135 Bitcoin in October 2023. Of this total, 71 Bitcoin were mined at Sentinum’s data center in Michigan (the “Michigan Data Center”), with the remaining 64 Bitcoin sourced from Sentinum machines hosted by Core Scientific, Inc. Based on the October 2023 Bitcoin mined and the current Bitcoin price of approximately $35,000, Sentinum’s Bitcoin mining operations monthly run rate is currently approximately $4.7 million worth of Bitcoin.
William B. Horne, Chief Executive Officer of Ault Alliance, remarked, “We continue to improve and streamline operations at our Michigan Data Center and are pleased with its progress so far. As we eagerly anticipate our expansion in Montana, our collaboration with Core Scientific remains a valuable component in our growth strategy, providing complementary benefits to our core operations.”
“Based on the recent surge in the price of Bitcoin and Ault Alliance’s current low stock value, the gross revenue from Sentinum’s monthly mining is approximately equal to the current market cap. We remain committed to consistently updating our stockholders, ensuring they are well-informed about the Company’s activities as a step towards aligning the stock price with what we believe is the Company’s true intrinsic value,” stated Milton “Todd” Ault III, Executive Chairman of Ault Alliance.
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.