▾ G11 Media Network: | ChannelCity | ImpresaCity | SecurityOpenLab | GreenCity | Italian Channel Awards | Italian Project Awards | ...
InnovationOpenLab

Ault Alliance Announces Plans to Issue a Special Preferred Artificial Intelligence Data Center and Bitcoin Mining Dividend to Stockholders

$AGREE #18000_Bitcoin_mining_units_operating--Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance,” or the “Company”), today announced it has obtained boar...

Business Wire

LAS VEGAS: $AGREE #18000_Bitcoin_mining_units_operating--Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance,” or the “Company”), today announced it has obtained board approval for, and will pursue the issuance of, a special preferred Artificial Intelligence (“AI”) data center and Bitcoin mining dividend for stockholders of the Company’s common stock and Series C preferred stock. For each share of common stock beneficially owned, stockholders will receive one share of the newly designated preferred stock. This class of preferred shares is anticipated to pay a percentage of the profit from both the AI data center business and Bitcoin mining operations by the Company’s subsidiary Sentinum, Inc. (“Sentinum”) in cash as a special preferred dividend. The future dividend amount would be determined by the Board of Directors of the Company, subject to certain criteria that remain to be determined by the Board of Directors as well as regulatory approval. In addition, the Company reserves the right, in its sole discretion, to abandon the proposed dividend at any time prior to implementation.

The Company notes that the preferred dividend may range from 0.25% of the face value of the preferred stock, which is $1 per share, up to 25% of the face value of the preferred stock, subject to final approval from the Board of Directors.

The Company will seek stockholder approval to increase the number of authorized preferred shares. This transaction is meant for stockholders as of a to-be-determined future record date. The Company would seek to have this new class of preferred stock trade on a national exchange, pending stockholder approval. The new preferred stock is anticipated to have a stated value of $1.00 per share.

Milton “Todd” Ault III, Executive Chairman and Founder of the Company, stated, “This initiative has been important to the Company for a considerable amount of time, and we are committed to rewarding our stockholders. We are focusing on the logistics of accomplishing this dividend and are excited with the progress Sentinum, and the Company as a whole, have made in regard to its Bitcoin mining operations. This new preferred stock will reward stockholders with a percentage of the profits and future cash flows to be determined by the Board of Directors. We believe this is a unique opportunity to allow stockholders the opportunity to participate directly in one of our platform companies, Sentinum.”

With approximately 18,000 Bitcoin mining units operating and plans to expand its AI data center business, the Company is confident that this strategy will reward stockholders in both the short term and long term. The Company remains committed to maintaining its Bitcoin mining operations, which is expected to evolve from solely self-mined operations, to include the hosting of third party owned miners, and will continue to work on improving margins while expanding mining capabilities.

For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’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 offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, 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, 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.

Fonte: Business Wire

If you liked this article and want to stay up to date with news from InnovationOpenLab.com subscribe to ours Free newsletter.

Related news

Last News

Axyon AI: Italian Artificial Intelligence for Finance applications

Axyon AI offers an AI platform specifically designed for asset management, with several interesting strengths for those approaching machine/deep learning…

Italian Artificial Intelligence tackles medical emergencies at sea

Mermaid-AI is a telehealth platform at sea based on a visor equipped with an AR, medical Artificial Intelligence algorithms, satellite communications…

Gyala: a new "Made in Italy" cybersecurity

With a proven track record in the defence field, Gyala now also brings its cybersecurity technologies to the wider enterprise audience

ITALIAN PROJECT AWARDS 2023: the best IT projects of the year, awarded

Now in its third edition, the initiative is targeted at the ICT professional world and honours projects based on innovative ideas and technologies, realised…

Most read

Sheba Microsystems Welcomes MEMS Technology Leader and Entrepreneur Matt…

Sheba Microsystems Inc. (Sheba) a global leader in MEMS technologies, today announced the appointment of Matt Crowley as Senior Strategic Advisor. Matt…

Worldwide Public Cloud Services Revenues Grew 19.9% Year Over Year in…

#AWS--Worldwide revenue for the public cloud services market totaled $669.2 billion in calendar year 2023, an increase of 19.9% compared to 2022, according…

Maximus Supports Provider Module Certification for Ohio Department of…

Maximus, a leading employer and provider of government services worldwide, today announced that its state client, the Ohio Department of Medicaid, has…

Large Language Model (LLM) Markets 2024-2034 with OpenAI, Google, Meta,…

The "Large Language Model (LLM) Market - A Global and Regional Analysis: Focus on Application, Architecture, Model Size, and Region - Analysis and Forecast,…

Newsletter signup

Join our mailing list to get weekly updates delivered to your inbox.

Sign me up!