Ault Alliance Issues March Bitcoin Production and Mining Operation Report
April 11 2023 - 6:30AM
Business Wire
Approximately 12,000 Bitcoin miners are now energized and
mining, at an annualized revenue run rate of approximately $42
million
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding
company (“Ault Alliance,” or the “Company”) announced
today that its wholly owned subsidiary, BitNile, Inc.
(“BitNile”) has issued an unaudited update on its Bitcoin
mining operations reporting receiving 102 Bitcoin for the month of
March 2023 as a result of its miners providing computing power to a
mining pool operator. BitNile’s mining operations are currently
operating at an estimated annualized gross revenue run rate of over
$42 million, based on current market conditions, including a
current trading price of Bitcoin at $30,000 as of April 10, 2023,
and a mining difficulty of 47.89 trillion.
BitNile recently successfully completed the installation at a
Core Scientific, Inc. (“Core Scientific”) site of
approximately 3,000 S19j Pro Antminers that feature a processing
power of 100 terahashes per second (“TH/s”). BitNile’s
operation in Michigan encompasses over 4,600 environmentally
friendly S19 XP Antminers that feature a processing power of 140
terahashes per second (“TH/s”) and over 4,500 S19j Pro
Antminers.
Joseph Spaziano, the Company’s Chief Information Officer and
BitNile’s Head of Mining Operations, expressed his satisfaction
with BitNile’s progress, stating, “I am very pleased that the
Bitcoin mining team has deployed additional miners with Core
Scientific. Our mining operations are expected to further expand in
the coming months with additional miners at a hosted facility in
Texas and our recently purchased facility in Montana, and we have
made commitments to deploy additional capacity under our control to
over 20,000 miners. I look forward to the progress the BitNile team
will achieve over 2023.”
Ault Alliance notes that all estimates and other projections are
subject to the actual delivery and installation of Bitcoin miners,
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 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 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 www.sec.gov and on the Company’s
website at www.ault.com
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