Irish Business Giant, Ault Alliance, Dives into Bitcoin: Balancing Act Begins!

"Prominent Irish Business Leader Embraces Bitcoin as a Sustainable Asset Class"

Ault Alliance, a leading investment company, has expressed its confidence in Bitcoin as a sustainable asset class. Milton “Todd” Ault III, the Founder and Executive Chairman of Ault Alliance, commented on this development, stating that their belief in Bitcoin aligns with the insights shared by Michael Saylor, the Executive Chairman of MicroStrategy, in their white papers. Ault Alliance aims to capitalize on the short-term and long-term potential of this digital asset.

Ault Alliance has made significant progress in Bitcoin mining through its subsidiary, Sentinum, Inc. In December 2023, Sentinum achieved its highest single monthly run rate for Bitcoin miners, mining around 151 Bitcoin during the month. Out of this, approximately 77 Bitcoin were mined at Sentinum’s data center in Michigan, while the remaining 74 Bitcoin came from mining machines hosted with Core Scientific, Inc. This monthly run rate translates to approximately $6.9 million, setting an annual run rate for current Bitcoin mining operations at around $83.3 million, based on a Bitcoin price of approximately $46,000.

Kenneth S. Cragun, the Chief Financial Officer of Ault Alliance, emphasized the company’s readiness to comply with new accounting guidance related to Bitcoin. The guidance requires companies to measure Bitcoin at fair value on their balance sheets, with changes recorded in net income each reporting period. Cragun affirmed that Ault Alliance’s financial team is well-equipped to manage these new accounting and disclosure requirements, ensuring compliance and optimal asset utilization.

Ault Alliance’s decision to adapt its asset management strategy reflects its commitment to staying ahead of the evolving digital economy. By strategically adjusting their approach, they aim to navigate the changing landscape and maximize their investment opportunities.

For more information about Ault Alliance and its subsidiaries, the company recommends that stockholders, investors, and interested parties refer to their public filings and press releases available under the Investor Relations section on their website, www.Ault.com, or on the Securities and Exchange Commission’s website, www.sec.gov.

Martin Reid

Martin Reid

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