Ault Global Holdings Announces Investment to Increase Its Power Capacity at Its Michigan Technology Data Center Accelerating ...
June 07 2021 - 6:30AM
Business Wire
Technology Data Center to Provide Cloud, High Density
(Bitcoin and Ethereum Mining), and Enterprise Data Center
Services
Ault Global Holdings, Inc. (NYSE American: DPW), a diversified
holding company (the “Company”), announced today that the
Company anticipates making an additional investment in Ault
Alliance, Inc., its wholly-owned subsidiary, to expand the
infrastructure of its technology data center in southern Michigan
and increase the power capacity to 28MW. The Company’s decision to
accelerate the timing of its investment in the technology data
center was driven by an increase in demand for high-density
computing due to improved business conditions for cryptocurrency
mining, including the market prices of digital currencies. By
dedicating the increased power capacity for high-density computing,
which requires a significantly smaller footprint, the Company
anticipates that this investment will allow the Company to reduce
the timeline to reach its revenue projections. At 50% capacity, the
technology data center is expected to generate annual gross
revenues between $54 million and $64 million. The technology data
center power capacity can be further expanded in the future, up to
300MW. The technology data center features cloud, high-density, and
enterprise data center services and is operated by Alliance Cloud
Services, LLC (“ACS”), a subsidiary of Ault Alliance,
Inc.
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Darren Magot, the CEO of Ault Alliance, said, “Given the
interest ACS has received, we decided that it would be beneficial
for us to expand the infrastructure of the data center to
accommodate the higher-density power demands from both our existing
tenants and new prospects. We are especially proud of the fact that
over 94% of the power in our facility comes from non-coal sources
which supports our green energy initiatives. We are very pleased
with the interest that our ACS Data Center has generated,
validating our strategic plan, and driving this accelerated
expansion.”
Milton “Todd” Ault, III, the Company’s Executive Chairman,
stated, “The Company is pleased to have adequate resources to
manage and financially support our existing subsidiaries. With the
strongest balance sheet in the Company’s history, I am very
encouraged about our prospects and confident in our ability to
realize our vision as a holding company that can execute on key
initiatives, such as expanding the power capacity at our Michigan
data center.”
For more information on Ault Global Holdings and its
subsidiaries, the Company recommends that stockholders, investors,
and any other interested parties read the Company’s public filings
with the SEC and press releases available under the Investor
Relations section at www.AultGlobal.com or available at
www.sec.gov.
About Ault Global Holdings, Inc.
Ault Global Holdings, 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, the Company
provides mission-critical products that support a diverse range of
industries, including defense/aerospace, industrial, automotive,
telecommunications, medical/biopharma, and textiles. In addition,
the Company extends credit to select entrepreneurial businesses
through a licensed lending subsidiary. Ault Global Holdings’
headquarters are located at 11411 Southern Highlands Parkway, Suite
240, Las Vegas, NV 89141; www.AultGlobal.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.AultGlobal.com.
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IR@AultGlobal.com or 1-888-753-2235
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