Ault Inc. issues letter to stockholders on Q3

Ault Alliance issued a letter from its Executive Chairman to its valued stockholders. “Ault Alliance proudly announces its financial results for the third quarter 2023 and a strategic shift in capital raising plans. The Company recently announced a strategic corporate alignment, whereby it intends to focus on the strengths of its three core subsidiaries, Circle 8 Crane Services LLC, Sentinum, Inc., and Ault Venture Group… In line with our strategic focus, we have listed key properties owned by Ault Global Real Estate Equities, Inc. for sale, with the goal of streamlining our holdings and reducing debt. This move aligns with our commitment to concentrate on our core businesses and optimize capital allocation… Key third quarter 2023 financial highlights included: Total assets of $378 million as of September 30, 2023; A book value of $7.23 per share; Total stockholders’ equity exceeding $119 million; Revenue growth of 38% from the prior period, reaching $120 million for the nine months ended September 30, 2023; Revenue from Sentinum’s Bitcoin mining operations for the nine months ended September 30, 2023 were $23 million, up $12 million, or 104%, from $11 million in the prior fiscal period; and Revenue from Circle 8, acquired in December 2022, were $39 million for the nine months ended September 30, 2023… Our Bitcoin operations and our data center, at which we mine Bitcoin and offer colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, were significant in increasing our revenues for this reporting period. The Sentinum team is making tremendous progress on developing our Montana site and the team is excited for it to come online. Once the Montana site becomes operational, which is expected to occur in the first quarter 2024, it will significantly change the Sentinum financial model… Ault Alliance is actively exploring options to address the undervaluation of our common stock. Our strategies, including potential share buybacks, tender offers or special dividends funded by Bitcoin operations, are focused on enhancing stockholder value. We remain committed to structuring our business for sustainable profitability and long-term growth. “