Ault Alliance’s subsidiary, Sentinum, mines 909 Bitcoins through diverse methods in 2023, with impressive July results.
Key Points
- Ault Alliance’s Sentinum mined 909 Bitcoins in 2023 till July, via data center (668) and Core Scientific partnership (241).
- July saw 145 Bitcoins mined, with an annualized rate of 1,740 Bitcoins.
- Chairman Todd Ault credits strategy and Core Scientific for success.
- Ault Alliance values Blockchain, diverse industries; notes Bitcoin mining’s vulnerability to market volatility.
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company, made an exciting announcement on August 4, 2023. The company revealed that its wholly-owned subsidiary, Sentinum, Inc., successfully mined a total of 909 Bitcoins from January 1, 2023, through July 31, 2023. The announcement was made at a press conference in Las Vegas, where Ault Alliance shared details about its Bitcoin mining activities.
Ault Alliance Announces Its Subsidiary, Sentinum, Inc., Has Mined 909 Bitcoin From January 1, 2023 Through July 31, 2023 – https://t.co/0cJG3aDgKD $AULT #Bitcoin
— Milton Todd Ault III (@ToddAultIII) August 4, 2023
Two Distinct Mining Methods Contributed to the Achievement
Sentinum achieved the milestone of mining 909 Bitcoins through two different methods. Out of the total, 668 Bitcoins were mined using Sentinum’s dedicated data center in Michigan. This facility played a crucial role in generating mining rewards during the given period. Additionally, Sentinum entered into a partnership with Core Scientific on April 6, 2023, resulting in the mining of an extra 241 Bitcoins. Core Scientific is a leading provider of customizable infrastructure and software solutions for Blockchain networks.
Impressive Performance in July and Annualized Run Rate
In the month of July 2023 alone, Sentinum achieved the mining of 145 Bitcoins. This exceptional performance contributes to an annualized run rate of 1,740 Bitcoins. Milton “Todd” Ault, III, the Executive Chairman of Ault Alliance, expressed his excitement about the company’s accomplishments in Bitcoin mining. He highlighted the strategic efficiency and dedication that have enabled these significant strides. Ault also acknowledged the valuable contributions of Core Scientific in achieving these impressive figures.
Commitment to Blockchain Technology and Shareholder Value
Ault Alliance’s announcement not only showcases its success in Bitcoin mining but also emphasizes the company’s commitment to exploring and utilizing Blockchain technology. Ault Alliance aims to contribute to the digital asset industry’s growth and provide value to its shareholders. The company maintains transparency and open communication with its stakeholders and the broader market.
Factors Impacting Bitcoin Mining Operations
Ault Alliance acknowledges that its Bitcoin mining operations are subject to various factors. These include volatility in the Bitcoin market price, fluctuations in mining difficulty levels, and the availability of sufficient power for miners. As a result, these factors may impact the production and overall performance of Bitcoin mining operations.
Diversified Industries and Lending Subsidiary
Ault Alliance, Inc. is involved in various industries, demonstrating its diversified portfolio. These industries include Bitcoin mining, artificial intelligence ecosystems, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations, and textiles. Furthermore, the company extends credit to select entrepreneurial businesses through its licensed lending subsidiary.
