Ault Alliance, Inc. - AULT STOCK NEWS

Ault Alliance, Inc. (NYSE American: AULT) announced the termination of its ‘at-the-market’ equity offering program, effective March 17, 2023. The decision to halt the ATM Facility aims to limit uncertainty and minimize dilution for shareholders. To date, the program resulted in the sale of approximately 317.9 million shares, generating about $176.6 million in gross proceeds at roughly $0.56 per share. This termination eliminates any further obligations associated with the ATM Facility, thereby streamlining the company’s capital management.

Ault Alliance and Ecoark Holdings announced the completion of a share exchange agreement, transferring BitNile.com and its metaverse platform for $100 million in preferred stock. The platform allows users to engage in social networking and shop within 3D immersive games. Following shareholder approval, Ault Alliance expects to consolidate Ecoark’s financial results, enhancing growth opportunities in the metaverse market. The preferred stock, convertible at $0.25 per share, comes with a 5% annual dividend and voting rights. Both companies aim to capitalize on the expanding metaverse landscape.

Ault Alliance, Inc. (NYSE American: AULT) has launched its immersive metaverse platform, BITNILE.COM, in over 176 countries as of March 1, 2023. This platform is notable for being the first metaverse platform that operates entirely from a web browser without pixel streaming. Users can enjoy various features, including 3D immersive games, social networking, and product purchases across devices such as mobiles and VR headsets. The Company aims to enhance the platform with new features and games, as expressed by Executive Chairman Milton “Todd” Ault, III. Ault Alliance focuses on growth through acquiring undervalued businesses and disruptive technologies.

Ault Alliance (NYSE American: AULT) announced that its subsidiary BNI Montana, part of BitNile, has signed an asset purchase agreement with TypeX to acquire land lease and power purchase agreements in Montana. This agreement enables the development of data centers for Bitcoin mining, with an initial power capacity of 20 megawatts and potential expansion to 250 megawatts depending on a future load study. The facilities are expected to host up to 6,500 Bitcoin miners and diversify operational risk across multiple locations. The completion of the facilities is targeted for June 2023.

Ault Alliance (NYSE American: AULT) and Ecoark Holdings (NASDAQ: ZEST) have scheduled an online tour of their upcoming metaverse super-app, BitNile.com, today, February 28, 2023, at 3:00pm PT / 6:00pm ET. This innovative platform allows users to access the metaverse through web browsers without pixel streaming. Following a share exchange agreement announced on February 9, 2023, Ecoark will acquire BitNile.com, enhancing their digital marketplace capabilities. The platform aims to support Bitcoin transactions and will feature immersive experiences like games and live events. Pre-registration for the tour is encouraged.

Ault Alliance (NYSE American: AULT) announced its participation in Mobile World Congress Barcelona 2023, running from February 27 to March 2, 2023. The company will showcase BITNILE.COM, a new metaverse platform launching March 1, 2023. This platform allows users to access immersive 3D games and social networking through any device. Additionally, Ault is introducing the NILE coin for in-platform purchases. Early registration for access to BITNILE.COM is available, rewarding early users with future benefits. For more information, visit www.ault.com.

Ault Alliance, Inc. (NYSE American: AULT) announces the launch of the "NILE" coin for in-world transactions on its platform, BITNILE.COM. This coin is designed for purchases within the platform, allowing users to play immersive games, buy digital products, and engage in social networking across devices. The BITNILE metaverse platform is accessible via web browser without the need for specialized hardware. Executive Chairman Milton Ault III highlighted the platform's potential for profitability and scalability, emphasizing its user-friendly nature. The coin will not hold monetary value outside the platform, ensuring a contained ecosystem for users.

Ault Alliance, Inc. (NYSE American: AULT) has announced the appointment of Jay Looney as the Chief Executive Officer of its subsidiary, AC Management, Inc. His responsibilities include overseeing a 617,000 square-foot energy-efficient data center in Michigan, managing approximately 20,600 Antminers, and generating revenue from enterprise cloud hosting services. Once fully operational, these Antminers are expected to achieve a processing power of 2.25 exahashes per second, which could lead to an annualized revenue run rate of around $65 million. Mr. Looney brings over 30 years of IT experience, enhancing the company's growth potential in the data center space.

Ault Alliance (NYSE American: AULT) has declared a monthly cash dividend of $0.2708333 per share on its 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock. The dividend's record date is February 28, 2023, and it will be paid on March 10, 2023. This declaration signals the company's commitment to providing returns to its shareholders through dividends. Ault Alliance operates in various industries, including mining, defense, and lending, and continues to pursue growth by investing in undervalued businesses and technologies.