Ault Alliance’s Subsidiary, BitNile Inc., Collaborates with Core Scientific for Bitcoin Mining Expansion

Rhea-AI Summary

Ault Alliance, Inc. (NYSE American: AULT) has announced a strategic collaboration between its subsidiary, BitNile, Inc. (BNI), and Core Scientific, Inc. (OTC: CORZQ), focusing on Bitcoin mining operations. This partnership will enable BNI to deploy 3,000 S19j Pro miners at Core Scientific’s facilities starting in April 2023. Core Scientific will provide BNI with exclusive mining capabilities, enhancing operational efficiency and profitability. Milton Ault III, Executive Chairman, expressed optimism about leveraging Core Scientific’s expertise to grow their presence in the Bitcoin mining sector, aiming to deliver long-term value to shareholders.

Positive

• Strategic collaboration with Core Scientific enhances BNI's Bitcoin mining capabilities.
• Deployment of 3,000 S19j Pro miners aims to boost operational efficiency and profitability.
• Partnership with a leading industry provider like Core Scientific strengthens market position.

Negative

• None.

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.

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.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230329005479/en/

IR@Ault.com or 1-888-753-2235

Source: Ault Alliance, Inc.

FAQ

What is the significance of the collaboration between Ault Alliance and Core Scientific?

The collaboration aims to enhance Ault Alliance's Bitcoin mining operations by deploying 3,000 S19j Pro miners at Core Scientific’s facilities, which is expected to improve operational efficiency and profitability.

When will Ault Alliance start deploying miners at Core Scientific's facilities?

Ault Alliance plans to begin deploying the miners in April 2023.

What is the stock symbol for Core Scientific?

Core Scientific's stock symbol is CORZQ.

How will the partnership affect Ault Alliance's shareholders?

The partnership is expected to generate long-term value for Ault Alliance's shareholders through enhanced operational capabilities and efficiencies in Bitcoin mining.

What type of miners will Ault Alliance operate at Core Scientific?

Ault Alliance will operate 3,000 S19j Pro miners at Core Scientific's facilities.