Ault Alliance’s Subsidiary, BitNile Inc., Collaborates with Core Scientific for Bitcoin Mining Expansion
LAS VEGAS–(BUSINESS WIRE)–Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance” or the “Company”), has announced a strategic collaboration between its wholly owned subsidiary, BitNile, Inc. (“BNI”), and Core Scientific, Inc. (OTC: CORZQ) (“Core Scientific”), a prominent provider of high-performance blockchain computing data centers and software solutions. This collaboration will enable BNI to operate 3,000 S19j Pro miners in Core Scientific’s existing facilities starting 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 set to arrive at Core Scientific’s facilities as early as this week. Joining forces with an industry leader like Core Scientific will provide BNI with unparalleled expertise and accelerated operational pace, thereby maximizing overall efficiencies and profitability.
Milton “Todd” Ault III, Founder and Executive Chairman of Ault Alliance shared his excitement, “Our collaboration with Core Scientific allows us to continue growing our presence in the Bitcoin mining industry. We are confident that, together with Core Scientific, we can unleash the full potential of our operations and generate long-term value for our stockholders.”
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 grow their presence in the Bitcoin mining space.”
For more information on Ault Alliance and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company’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 Alliance owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses 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.
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.
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