Ault Alliance’s subsidiary, BitNile Inc., partners with Core Scientific for Bitcoin Mining Expansion
LAS VEGAS, March 29, 2023–(BUSINESS WIRE)–Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance” or “Company“), has announced a 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. This collaboration will enable BNI to operate 3,000 S19j Pro miners in Core Scientific’s existing facility beginning in April 2023.
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As part of the collaboration, Core Scientific is dedicated to offering BNI its exclusive mining capabilities at its state-of-the-art mining facilities alongside Core Scientific’s existing mining fleet. The Bitcoin miners are due to arrive at Core Scientific’s facility as early as this week. Joining forces with an industry leader such as Core Scientific will provide BNI with unparalleled expertise and accelerated pace of operations, thereby maximizing overall efficiency and profitability.
Milton “Todd” Ault III, Founder and Executive Chairman of Ault Alliance shared his excitement, “Our partnership with Core Scientific allows us to continue to grow our presence in the Bitcoin mining industry. We are confident that together with Core Scientific we can unleash the full potential in our business and generate long-term value for our shareholders.”
Russell Cann, Head of Mining at Core Scientific, said: “We believe the mining facilities we operate are among the best in North America and are eager to provide Ault Alliance with our state-of-the-art capabilities as they expand their Bitcoin mining operations in the US. There is a clear synergy between Core Scientific’s mining and hosting capabilities and Ault Alliance’s ambition to increase its presence in the Bitcoin mining space.”
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 could 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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