Technology Data Center to Provide Cloud, High Density (Bitcoin and Ethereum Mining), and Enterprise Data Center Services
LAS VEGAS--(BUSINESS WIRE)--Jun. 7, 2021--
Ault Global Holdings, Inc. (NYSE American: DPW), a diversified holding company (the “Company”), announced today that the Company anticipates making an additional investment in Ault Alliance, Inc., its wholly-owned subsidiary, to expand the infrastructure of its technology data center in southern Michigan and increase the power capacity to 28MW. The Company’s decision to accelerate the timing of its investment in the technology data center was driven by an increase in demand for high-density computing due to improved business conditions for cryptocurrency mining, including the market prices of digital currencies. By dedicating the increased power capacity for high-density computing, which requires a significantly smaller footprint, the Company anticipates that this investment will allow the Company to reduce the timeline to reach its revenue projections. At 50% capacity, the technology data center is expected to generate annual gross revenues between $54 million and $64 million. The technology data center power capacity can be further expanded in the future, up to 300MW. The technology data center features cloud, high-density, and enterprise data center services and is operated by Alliance Cloud Services, LLC (“ACS”), a subsidiary of Ault Alliance, Inc.
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Darren Magot, the CEO of Ault Alliance, said, “Given the interest ACS has received, we decided that it would be beneficial for us to expand the infrastructure of the data center to accommodate the higher-density power demands from both our existing tenants and new prospects. We are especially proud of the fact that over 94% of the power in our facility comes from non-coal sources which supports our green energy initiatives. We are very pleased with the interest that our ACS Data Center has generated, validating our strategic plan, and driving this accelerated expansion.”
Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “The Company is pleased to have adequate resources to manage and financially support our existing subsidiaries. With the strongest balance sheet in the Company’s history, I am very encouraged about our prospects and confident in our ability to realize our vision as a holding company that can execute on key initiatives, such as expanding the power capacity at our Michigan data center.”
For more information on Ault Global Holdings and its subsidiaries, the Company recommends that stockholders, investors, and any other interested parties read the Company’s public filings with the SEC and press releases available under the Investor Relations section at www.AultGlobal.com or available at www.sec.gov.
About Ault Global Holdings, Inc.
Ault Global Holdings, 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, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Global Holdings’ headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.AultGlobal.com.
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.AultGlobal.com.
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Source: Ault Global Holdings, Inc.