LAS VEGAS–(BUSINESS WIRE)–$AGREE #20MW_power—Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance,” or the “Company”), today announced its wholly owned subsidiary, Sentinum, Inc. (“Sentinum”), plans to begin operations at its new Montana data center in January 2024. The opening of this new data center will expedite the Company’s plans to improve its profitability and efficiency by transitioning some of its miners from a third party hosted Bitcoin mining operation to its own facility in Montana.
The Company anticipates the initial transition of its mining hardware will begin in January, with a focus on optimizing operational costs and improving cash flow. The new Montana data center consists of two sites and once operational shall have a combined initial capacity of 20 megawatts (“MWs”). The Montana data center will begin operations in a two-pronged approach by bringing one 10 MW site online in January, followed by the second 10 MW site shortly thereafter. Sentinum believes that the capacity of the two Montana sites can be significantly expanded and has contracted with the local utility to begin an electrical load study in order to better understand the opportunities for power upgrades at its Montana sites. Pending the results of the study, Sentinum would also require additional financial resources in order to increase the capacity.
Will Horne, Chief Executive Officer of Ault Alliance, emphasized the strategic importance of this expansion, stating, “The launch of our Montana data center is a pivotal step in our roadmap. It aligns with our objective to transition our miners from hosted locations to our bespoke data centers. This shift is expected to yield reductions in our per kilowatt-hour costs, thereby bolstering our profitability and cash flow. This is more than just an expansion; it’s a testament to our commitment to be a leading company in the digital asset industry. Our Montana data center is set to become a cornerstone of our mining operations and is expected to drive efficiency and contribute towards profitability in 2024.”
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 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 Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, 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.
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.
Ault Alliance Investor Contact:
IR@Ault.com or 1-888-753-2235