crypto strategy

Ault Alliance subsidiary BitNile, Inc. has received all 20,645 Bitcoin miners from the first five contracts with Bitmain Technologies Limited

The company predicts that the annualized operating rate of revenue from Bitcoin mining operations will increase from the current operating rate of approximately $30 million to approximately $60 million of Bitcoin miners in possession once installed and powered.

LAS VEGAS, January 17, 2023–(BUSINESS WIRE)–Ault Alliance, Inc. (NYSE American: AULT), a diversified holding (“Ault,” or the “Company“) today announced that its wholly-owned subsidiary, BitNile, Inc. (“BitNile“) received 20,645 Antminers, fulfilling the first five of seven contracts with Bitmain Technologies Limited (“bitmain“) including 4,628 environmentally friendly S19 XP Antminers that boast 140 terahashes per second of processing power (“TH/s“) and 16,017 Antminers S19j Pro with a processing power of 100 TH/s. The Company announced that the 20,645 Antminers in its possession, when installed and powered, will generate a combined processing power of approximately 2 .25 exahashes per second (“PE/s“), the computing power used to mine Bitcoin, will generate an expected annualized revenue rate of approximately $60 million, based on current market conditions, including a mining difficulty of $37.59 trillion.

Milton “Todd” Ault, III, Executive Chairman of the company, said, “I am very pleased that we have completed receipt of all 20,645 Antminers. Having our own data center in Michigan has provided us with operational flexibility. We we are committed to increasing the additional capacity under our control to over 20,000 miners and I look forward to the progress the BitNile team will make in the weeks to come.”

The company notes that beyond the first five contracts with Bitmain, it has two other previously announced purchase agreements for an additional 1,325 S19j Pro Antminers which are expected to ship in Q1 2023 and 1,140 S19 XP Hydro Antminers which are expected to be delivered during the summer of 2023. 2023. Once all miners are fully deployed and operational, BitNile expects to reach a mining throughput capacity of approximately 2.67 EH/s, which will generate a expected annualized revenue of approximately $72 million, based on current market conditions.

Ault notes that all estimates and other projections are subject to actual delivery and installation of Bitcoin miners, volatility in the Bitcoin market price, fluctuation in level of mining difficulty, ability to build and supply the necessary power, and other factors that may impact production or operating results.

For more information about Ault and its subsidiaries, Ault recommends that shareholders, investors and any other interested party read Ault’s public documents and press releases available in the Investor Relations section at www.ault.com or available on www.sec.gov.

About Ault Alliance, Inc.

Ault Alliance, Inc. is a diversified holding company that continues to grow by acquiring undervalued companies and disruptive technologies with global impact. Through its wholly and majority owned subsidiaries and strategic investments, Ault owns and operates a data center in which it mines Bitcoin and provides mission-critical products that support a wide range of industries, including oil exploration, crane services, defence/aerospace, industrial, automotive, medical/biopharmaceutical, consumer electronics, hospitality and textile. In addition, Ault extends credit to certain entrepreneurial businesses through a licensed lending subsidiary. Ault’s corporate 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 on or refer to future events or conditions, and include words such as “believes”, “plans”, “anticipates”, “projects”, “estimates”, “s ‘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 on which they are made. are made, and the Company undertakes no obligation to update them publicly as a result of new information or future events. Actual results could differ materially from those contained in any forward-looking statement due to various factors. ers. Further information, including potential risk factors, that could affect the Company’s business and financial results is included in the Company’s filings with the United States Securities and Exchange Commission, including, but without limitation, Company Forms 10-K, 10-Q and 8. -K. All records are available at www.sec.gov and on the Company’s website at www.ault.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20230117005611/en/

contacts

Investor contact Ault Alliance:
[email protected] or 1-888-753-2235

#Ault #Alliance #subsidiary #BitNile #received #Bitcoin #miners #contracts #Bitmain #Technologies #Limited #crypto strategy

Related Articles

Back to top button