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Ault Alliance, Inc. (NYSE American: AULT) announced that its subsidiary, Sentinum, Inc., has completed the initial installation of 1,000 Bitcoin miners at one of its Montana locations. The company plans to have approximately 2,250 miners operational in the next three months. The move is part of a strategy to shift Bitcoin mining operations from Michigan to Montana, allowing the Michigan site to focus on hosting services. Ault Alliance is looking to expand its mining operations and explore hosting agreements with third parties.
Ault Alliance, Inc. completes the final distribution of TurnOnGreen, Inc. securities, distributing 140 million shares of common stock and warrants to purchase additional shares to its stockholders. Stockholders received approximately 0.83 shares of TurnOnGreen common stock per share of Ault Alliance common stock owned on the record date of April 15, 2024. The distribution was completed on April 29, 2024. The Company believes this distribution is a significant achievement, setting TurnOnGreen on a path to independent growth.
Ault Alliance, Inc. (NYSE American: AULT) has successfully regained compliance with NYSE American's continued listing standards related to low selling price. After receiving a Deficiency Letter in November 2023, the Company demonstrated sustained price improvement by May 1, 2024, meeting NYSE American's requirements. The removal of the '.BC' designation from the 'AULT' trading symbol signifies full compliance, with efforts focused on enhancing stockholder value and Company valuation.
Ault Alliance, Inc. (NYSE American: AULT) reported preliminary revenue of $36 million for the first quarter of 2024, excluding $3 million of revenue from its subsidiary AGREE. The robust performance of Sentinum, Inc. resulted in a significant 51% growth from the prior year first quarter. Circle 8 Crane Services, also had steady revenue at approximately $13 million for the first quarter of 2024. The Company remains committed to leveraging its market position to drive sustainable growth and create value for its stockholders.