LAS VEGAS - Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company, has reported that its subsidiary Sentinum, Inc. mined approximately 121 Bitcoin in January 2024. The mining operations spanned two locations, with about 65 Bitcoin mined at Sentinum's Michigan data center and the remainder from machines hosted with Core Scientific, Inc. The company announced an annual Bitcoin mining run rate of approximately $62 million, based on the current Bitcoin price of around $42,700.
William B. Horne, the CEO of Ault Alliance, noted the efficiency and performance of their mining operations and outlined a strategic relocation of select mining rigs to their Montana facility by the end of March 2024. This move is intended to optimize assets and enhance operational efficiency, potentially improving Sentinum's monthly results. Horne also emphasized the belief that the market valuation of Ault Alliance's stock does not fully reflect the value contributed by Sentinum to the company's portfolio.
Ault Alliance's operations include running a data center for Bitcoin mining and hosting services, offering products supporting various industries such as defense, aerospace, and medical, and providing credit through a licensed lending subsidiary.
The information in this article is based on a press release statement from Ault Alliance, Inc.
InvestingPro Insights
Ault Alliance, Inc. (NYSE American: AULT) has demonstrated a commitment to expanding its Bitcoin mining capabilities, as evidenced by the recent report of mining 121 Bitcoins in January 2024. For investors considering AULT's stock, key metrics from InvestingPro provide a snapshot of the company's financial health and market performance. With a market capitalization of just $1.35 million, AULT's financial position reflects a significant debt burden, and the company is trading at a low Price / Book multiple of 0.02 as of the last twelve months ending Q3 2023. Despite a notable 75.93% revenue growth during the same period, the company's operating income margin stood at -49.29%, indicating challenges in translating top-line growth into operational profitability.
Two InvestingPro Tips that may be pertinent to investors are the company's high debt load, which could make it difficult to service interest payments, and its current status in oversold territory according to the Relative Strength Index (RSI), suggesting potential for a price rebound. With the stock experiencing a significant drop over the last week, these insights may help investors gauge the timing and risk associated with investing in AULT.
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