Apr 3 2024: LAS VEGAS – Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company, has announced that its subsidiary Sentinum, Inc. mined approximately 105 Bitcoin in March 2024, indicating an annual run rate of around $82 million based on the current Bitcoin price of $65,000 per coin. The mining activities were carried out at Sentinum’s data center in Michigan and through machines hosted by Core Scientific, Inc.
CEO William B. Horne emphasized the recent deployment of the first Antbox mining container in Montana, part of a strategic initiative to leverage lower power costs and repurpose the Michigan facility for artificial intelligence data center development.
Ault Alliance has cautioned that the Bitcoin mining projections are subject to market volatility, fluctuations in mining difficulty, and other operational variables. The company is also mindful of the upcoming Bitcoin halving event, which will reduce block rewards for miners. It stated that while it doesn’t predict Bitcoin price changes, it is prepared to adjust its mining operations accordingly.
The press release also outlined Ault Alliance’s diverse business ventures, including data center operations, colocation and hosting services, and involvement in industries such as artificial intelligence, defense/aerospace, and medical/biopharma. The company, headquartered in Las Vegas, Nevada, extends credit through a licensed lending subsidiary.
InvestingPro Insights
As Ault Alliance, Inc. (NYSE American: AULT) expands its Bitcoin mining and diversifies its business, potential investors should note that the company’s market capitalization is currently $0.98 million USD, suggesting a higher risk profile. The company faces challenges related to its significant debt burden and recent stock price volatility, with a 95.05% drop over the last six months.
Despite these challenges, Ault Alliance’s net income is expected to grow this year, and revenue has seen substantial growth in the last twelve months as of Q3 2023. This indicates potential underlying strengths that may not be