Ault Alliance’s Subsidiary BitNile Issues 2022 Bitcoin Production and Mining Report Highlighting a Current Projected Run Rate of Approximately 1,500 Bitcoin a Year

January 4, 2023 at 6:30 AM EST
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BitNile has mined approximately 750 Bitcoin to date

LAS VEGAS--(BUSINESS WIRE)--Jan. 4, 2023-- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault” or the “Company”), today announced that its wholly owned subsidiary, BitNile, Inc. (“BitNile”) published an unaudited update on Bitcoin production and miner installation. The number of miners and production capacity metrics within this press release represent the S19j Pro and XP Antminers at the Michigan data center. BitNile’s Bitcoin mining production is currently operating at an estimated annualized run rate of 1,484 Bitcoin based on current market conditions, including a mining difficulty of 34.09 trillion.

BitNile has 20,441 S19j Pro and XP Antminers in possession, which once installed and energized, will generate a combined processing power of approximately 2.21 exahashes per second (“EH/s”), the computational power that is being used to mine Bitcoin. During the month of December 2022, BitNile received 123.71 Bitcoin as a result of its miners providing computing power to a mining pool operator, and to date, BitNile has received a total of approximately 738 Bitcoin.

Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “The team has continued to optimize our mining operation in Michigan, and as a result increased mining production from November to December by approximately 1 Bitcoin per day (92 to 123). I look forward to 2023, as we continue to diligence other potential opportunities for additional mining operations.”

As previously disclosed, the Company has entered into purchase agreements with Bitmain Technologies Limited for a total of 23,065 Bitcoin miners, including 4,600 environmentally friendly S19 XP Antminers that feature a processing power of 140 terahashes per second (“TH/s”), 17,325 S19j Pro Antminers that feature a processing power of 100 TH/s and 1,140 S19 XP Hydro Antminers that feature a processing power of 255 TH/s. Once all of the miners are fully deployed and operational, BitNile expects to achieve a mining production capacity of approximately 2.66 EH/s.

BitNile notes that all estimates and other projections are subject to the actual delivery and installation of Bitcoin miners, the volatility in Bitcoin market price, the fluctuation in the mining difficulty level, the ability of Agora Digital Holdings Inc. to raise the required capital and to build out and provide the necessary power to its facility in Texas, with whom BitNile has contracted, and other factors that may impact the results of production or operations.

For more information on Ault and its subsidiaries, Ault recommends that stockholders, investors, and any other interested parties read Ault’s public filings and press releases available under the Investor Relations section at www.ault.com or available 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 owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault’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 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

Source: Ault Alliance, Inc.