Ault Alliance subsidiary BitNile, Inc. Bitmain Acquired All 20,645 Bitcoin Miners From First Five Contracts With Technologies Limited


LAS VEGAS–(BUSINESS PROPERTY)–Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Alt,” or “Company”) announced today that its wholly owned subsidiary BitNile, Inc. (“BitNile”) received 20,645 Antminers by completing the first five of seven contracts with Bitmain Technologies Limited (“Bitmain Technologies Limited”).Bitmain”) including 4,628 eco-friendly S19 XP Antminers with a processing power of 140 terabytes per second (“TH/s”) and 16,017 S19j Pro Antminer with 100 TH/s processing power. The company announced that the 20,645 Antminers it owns will generate a combined processing power of about 2.25 exahashes per second once installed and up and running.EH/s”), the computing power used to mine Bitcoin will generate an expected annual revenue of approximately $60 million based on current market conditions, including the 37.59 trillion mining difficulty.

Milton “Todd” Ault, III, the Company’s Executive Chairman, said, “I am very pleased that we have completed the adoption of 20,645 Antminers. Having our own data center in Michigan has provided us with operational flexibility. We are committed to further empowering the 20,000+ miners under our watch, and I look forward to the progress the BitNile team will make in the coming weeks.

The company notes that in addition to the first five contracts with Bitmain, there are two previously announced purchase contracts for an additional 1,325 S19j Pro Antminers, estimated to be delivered in the first quarter of 2023, and 1,140 S19 XP Hydro Antminers, which are expected to be delivered in the summer of the year. 2023. Once all miners are fully deployed and operational, BitNile expects to achieve a mining capacity of approximately 2.67 EH/s, which would generate approximately $72 million in annual revenue based on current market conditions.

Ault notes that all estimates and other projections are subject to the actual delivery and installation of Bitcoin miners, volatility in the Bitcoin market price, fluctuations in the level of mining difficulty, the ability to build and maintain the necessary capacity, and other factors. may affect the results of production or operations.

For more information about Ault and its subsidiaries, Ault encourages shareholders, investors and any other interested parties to read Ault’s public filings and press releases available on the Investor Relations section of www.ault.com or at www.sec.gov does.

About Ault Alliance, Inc

Ault Alliance, Inc. is a diversified holding company seeking growth by acquiring undervalued businesses and disruptive technologies with global impact. Through its wholly-owned and majority-owned subsidiaries and strategic investments, Ault owns and operates the data center from which it mines Bitcoin and provides mission-critical products that support a variety of industries, including oil exploration, crane services, defense/aerospace, industrial. , automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault provides loans to select businesses through its licensed lending subsidiary. Ault is headquartered 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 forward-looking and depend on or refer to future events or conditions and include words such as “believes,” “plans,” “expects,” “projects,” “estimates,” ” . expects”, “intends”, “strategy”, “future”, “possibility”, “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 publicly update any of them in light of new information or future events. Actual results may differ materially from those in any forward-looking statement as a result of various factors. Additional 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 Forms 10-K, 10-Q and 8. – K. All filings are available at www.sec.gov and the Company’s website at www.ault.com.



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