Ault Alliance Subsidiary, BitNile, Inc. Expands Bitcoin Mining Collaboration with Core Scientific to 10,000 Miners
With the announced expansion, BitNile will have a total of 19,100 miners energized, increasing its hash rate to 2.1 exahashes per second
LAS VEGAS, April 26, 2023–(BUSINESS WIRE)–Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance” or “Company“), has announced the expansion of the strategic collaboration between its wholly owned subsidiary, BitNile, Inc. (“GDP“), and Core Scientific, Inc. (OTC: CORZQ) (“Nuclear science“), a prominent provider of high-performance blockchain data centers and software solutions. The company announced last month that BNI would operate 3,000 of its S19j Pro miners in Core Scientific’s existing facility beginning in April 2023. BNI and Core Scientific amended their agreement, and BNI will now power 10,000 of its S19j Pro miners with Core Scientific, starting May 1, 2023. This will result in BNI expanding its footprint to power approximately 30 MW of power capacity at Core Scientific’s facility.
Milton “Todd” Ault III, Founder and Executive Chairman of the Ault Alliance shared his excitement: “Our expanded partnership with Core Scientific allows us to continue to grow our presence in the Bitcoin mining industry. With our Michigan data center providing 28 MW of power capacity and with the announced the 30MW of power capacity to be provided by Core Scientific, we will have access to 58MW of power capacity to power approximately 19,100 miners providing 2.1 exahashes per second of hash rate.Through Core Scientific we are unlocking the full potential of the operation our to generate long-term value for our shareholders Once all 19,100 miners are energized, based on current market conditions, including a current Bitcoin trading price of approximately $28,400, and a mining difficulty of 48.71 trillion, we expect our mining operations to generate nearly 60 million dollars in annual revenue.”
Ault Alliance notes that all estimates and other projections are subject to the actual installation of Bitcoin miners, the volatility of the Bitcoin market price, the fluctuations in the difficulty of mining and other factors that may affect the results of Bitcoin mining production or operations.
For more information about Ault Alliance and its subsidiaries, the Company recommends that shareholders, investors and other interested parties read the Company’s public filings and press releases available under the Investor Relations section of www.ault.com or available at www.sec.gov .
About Ault Alliance, Inc.
Ault Alliance, Inc. is a diversified holding company that seeks growth by acquiring undervalued businesses and disruptive technologies with global impact. Through its wholly-owned and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center where it mines Bitcoin and delivers mission-critical products that support a variety of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical /biofarma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance provides credit to selected start-up companies 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 and depend on or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “has to intent”, “strategy”, “future”, “opportunity”, “can”, “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 publicly update any of them in light of new information or future events. Actual results may differ materially from those contained in any forward-looking statement as a result of various factors.More information, including potential risk factors, that may affect the Company’s business and financial results is included in the Company’s filings with the US 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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