The current annual operating rate of Bitcoin mining business is approximately $83 million
Las Vegas, January 10, 2024–(business wire)–Ortho Alliance Co., Ltd. (NYSE American: AULT) is a diversified holding company (“Oort Alliance,” or “company“), today we announced that we have decided to begin holding up to 20 percent and a minimum of 5 percent of the Bitcoins we mine on our balance sheet. This strategic move will allow us to adjust our asset management. It’s part of our broader plan to ultimately create a more valuable company and increase shareholder value.
Milton “Todd” Ault III, founder and executive chairman of the Ault Alliance, commented on this development, saying, “Our confidence in Bitcoin as a sustainable asset class is demonstrated in our white paper. “We are adjusting our approach to take full advantage of the short- and long-term potential of this digital asset, consistent with the insights of Michael Saylor, Executive Chairman of MicroStrategy.” . ”
Oort Alliance, through its wholly owned subsidiary, Centinum Co., Ltd. (“centinum) has made significant progress in Bitcoin mining, and in December 2023, the single-month operation rate for Bitcoin miners reached the company’s highest ever, as Sentinum mined approximately 151 Bitcoins in the same month. Michigan. About 77 Bitcoins were mined at Centinum’s data center in the state, while about 74 Bitcoins came from mining machines hosted by Core Scientific, Inc., which had a monthly run rate of about $6.9 million. Based on a Bitcoin price of approximately $46,000, the current annual run rate for Bitcoin mining operations is set at approximately $83.3 million.
Kenneth S. Cragan, Chief Financial Officer of Ortho Alliance “We will need to measure Bitcoin at the end of 2020, and our treasury team is well-equipped to do just that.” Manage new accounting and disclosure requirements related to holding Bitcoin on your balance sheet to ensure compliance and optimal asset utilization. ”
This decision underscores Ortho Alliance’s commitment to keep pace with the evolution of the digital economy by strategically aligning its overall asset management strategy.
For more information about Ault Alliance and its subsidiaries, shareholders, investors and other interested parties are encouraged to read Ault Alliance’s public documents and press releases, available under the Investor Information section at: Masu. www.Ault.com or www.sec.gov.
About Ortho Alliance Co., Ltd.
Aault Alliance, Inc. is a diversified holding company that seeks growth by acquiring undervalued businesses and disruptive technologies that impact the world. Through wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates data centers that mine Bitcoin and provide colocation and hosting services for the emerging artificial intelligence ecosystem and other industries. I am. Targeting a variety of industries including Metaverse Platform, Oil Exploration, Crane Services, Defense/Aerospace, Industrial, Automotive, Medical/Biopharmaceuticals, Consumer Electronics, Hotel Operations, and Textiles. Additionally, Ault Alliance extends credit to select entrepreneurial businesses through its licensed lending subsidiaries. Aault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141. www.Ault.com.
Forward-looking statements
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Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to publicly update them in light of new information or future events. Actual results may differ materially from those contained in the forward-looking statements as a result of various factors. Further information, including potential risk factors that could affect our business and financial results, is contained in our filings with the Securities and Exchange Commission. This includes, but is not limited to, our Forms 10-K, 10-Q, and 8. – K. All submissions are available at: www.sec.gov and our website (below) www.Ault.com.
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contact address
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