Ault Alliance Provides Mid-Year Bitcoin Production and Mining Operations Update

By: Ault Alliance, Inc. via Business Wire

June 26, 2023 at 06:30 AM EDT

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/.