The Company has Plans to Expand its Data Center
Operations
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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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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Ault Alliance Investor Contact: IR@Ault.com or
1-888-753-2235
Ault Alliance (AMEX:AULT)
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