Ault Alpha purchases 50M shares of common stock of BitNile

BitNile Holdings announced that its related party, Ault Alpha, has purchased an aggregate of 50M shares of common stock of BitNile since it first started buying in September 2021. Ault Alpha purchases common stock of BitNile pursuant to a plan previously adopted pursuant to Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The 50M shares of common stock represent approximately 13% of the Company. "BitNile reported approximately $610M in total assets as of September 30, 2022 and recently completed the acquisition of Circle 8, the crane company. Ault Alpha intends to continue its purchase of common stock of BitNile if the current market conditions continue. Ault Alpha anticipates adopting a new 10b5-1/10b-18 plan in the near future," said Milton Ault, III, the controlling person of Ault Alpha and the Executive Chairman of BitNile.