Ault Alliance Provides Mid-Year Bitcoin Production and Mining Operations Update
26 June 2023 - 8:30PM
Business Wire
Approximately 19,000 Miners Are Now Active and Delivering an
Operational Hash Rate of 2.1 Exahashes per Second
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding
company, (“Ault Alliance” or the “Company”), announced today that
its wholly owned subsidiary, BitNile, Inc. (“BNI”) has
issued an unaudited update on its Bitcoin mining operations
reporting BNI’s mining operations is currently operating at a hash
rate of 2.1 exahashes per second with approximately 9,000 of its
Bitcoin miners at its Michigan data center and 10,000 Bitcoin
miners that are being hosted through its strategic collaboration
with Core Scientific, Inc. The annualized gross value of Bitcoin
currently being mined utilizing BNI’s miners is more than $55
million, based on current market conditions, including a current
trading price of Bitcoin at $30,500 and a mining difficulty of
52.35 trillion.
Milton “Todd” Ault III, Founder and Executive Chairman of Ault
Alliance expressed his enthusiasm, “We are energized by our
progress at our Michigan data center and with our partnership with
Core Scientific, where we have successfully deployed most of our
existing Bitcoin mining machines. The real highlight, however, is
our previously announced planned expansion to Montana. This new
frontier for our mining operations is expected to initially offer
20 megawatts of power. A subsequent load study could reveal
potential for up to 250 megawatts of future power capacity at the
Montana location. This venture marks an exciting milestone in our
ongoing commitment to the Bitcoin mining sector.”
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
https://www.ault.com/ or available at https://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 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 https://www.sec.gov/ and on the
Company’s website at https://www.ault.com/.
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