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Ault Alliance, Inc. - $AULT STOCK NEWS

Welcome to our dedicated page for Ault Alliance news (Ticker: $AULT), a resource for investors and traders seeking the latest updates and insights on Ault Alliance stock.

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Rhea-AI Summary

Ault Alliance (NYSE American: AULT) reports a profitable Q1 2024, with total revenue rising 55% to $44.9 million from the previous year's $28.9 million. Excluding revenue from its discontinued Ault Global Real Estate Equities, revenue growth remains strong. Digital asset mining revenue increased 56% to $11.4 million, and lending/trading revenue surged to $9.1 million from a prior loss of $4.9 million. Gross margins improved to 43%, and operating expenses fell 41% to $19.1 million. Net income for common shareholders reached $2.5 million compared to a $48.9 million loss last year. Investments in the Michigan data center aim to capitalize on AI industry growth, with potential expansions contingent on approvals and funding. Management remains optimistic but cautions about potential fluctuations due to market conditions.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
19.93%
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Rhea-AI Summary

Ault Alliance announced a monthly cash dividend of $0.2708333 per share for its 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock.

The record date is May 31, 2024, and the payment date is June 10, 2024.

Stockholders can access further information on the company's Investor Relations section or the SEC website.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.95%
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dividends
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Rhea-AI Summary

Ault Alliance's subsidiary, Sentinum, mined 89 Bitcoin in April 2024, with 46 Bitcoin from its Michigan data center and 43 Bitcoin through Core Scientific. CEO William B. Horne expressed optimism about reducing power costs and focusing on profitable mining post-Bitcoin halving. The company acknowledges that Bitcoin price volatility, mining difficulty fluctuations, and power provisioning challenges may impact future results. Ault Alliance is prepared to adjust its operations accordingly. For more information, consult Ault Alliance's public filings and press releases.

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Rhea-AI Sentiment
End-of-Day
10.25%
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Rhea-AI Summary

Ault Alliance, Inc. announced that its subsidiary, Sentinum, mined approximately 89 Bitcoin in April 2024. Of this total, 46 Bitcoin were mined in Michigan, and 43 were mined using miners hosted by Core Scientific, Inc. The company plans to focus on profitable mining operations following recent Bitcoin halving, with all estimates subject to market volatility and other factors.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.38%
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Rhea-AI Summary

Ault Alliance, Inc. (NYSE American: AULT) announced that its subsidiary, Sentinum, Inc., has completed the initial installation of 1,000 Bitcoin miners at one of its Montana locations. The company plans to have approximately 2,250 miners operational in the next three months. The move is part of a strategy to shift Bitcoin mining operations from Michigan to Montana, allowing the Michigan site to focus on hosting services. Ault Alliance is looking to expand its mining operations and explore hosting agreements with third parties.

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Rhea-AI Summary

Ault Alliance, Inc. completes the final distribution of TurnOnGreen, Inc. securities, distributing 140 million shares of common stock and warrants to purchase additional shares to its stockholders. Stockholders received approximately 0.83 shares of TurnOnGreen common stock per share of Ault Alliance common stock owned on the record date of April 15, 2024. The distribution was completed on April 29, 2024. The Company believes this distribution is a significant achievement, setting TurnOnGreen on a path to independent growth.

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Rhea-AI Sentiment
End-of-Day
0.76%
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Rhea-AI Summary

Ault Alliance, Inc. (NYSE American: AULT) has successfully regained compliance with NYSE American's continued listing standards related to low selling price. After receiving a Deficiency Letter in November 2023, the Company demonstrated sustained price improvement by May 1, 2024, meeting NYSE American's requirements. The removal of the '.BC' designation from the 'AULT' trading symbol signifies full compliance, with efforts focused on enhancing stockholder value and Company valuation.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
12.94%
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Ault Alliance, Inc. (NYSE American: AULT) reported preliminary revenue of $36 million for the first quarter of 2024, excluding $3 million of revenue from its subsidiary AGREE. The robust performance of Sentinum, Inc. resulted in a significant 51% growth from the prior year first quarter. Circle 8 Crane Services, also had steady revenue at approximately $13 million for the first quarter of 2024. The Company remains committed to leveraging its market position to drive sustainable growth and create value for its stockholders.

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Rhea-AI Sentiment
End-of-Day
4.01%
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Rhea-AI Summary
Ault Alliance, Inc. (NYSE American: AULT) has ceased the marketing process for its four hotels owned by its subsidiary AGREE, with assets worth $91.0 million and liabilities of $70.4 million. The properties will no longer be considered for sale, and their values will be reclassified in the balance sheet. The Company's Executive Chairman, Milton “Todd” Ault, III, expressed confidence in the long-term value of the assets despite the decision. Investors can access more information through Ault Alliance's public filings and press releases on their website or the SEC's site.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.83%
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Rhea-AI Summary
Ault Alliance's subsidiary, Sentinum, signs the first non-mining colocation/hosting agreement utilizing a Tier 3 portion of its data center with a capacity of 30 MW, expandable to 300 MW. The company aims to reallocate resources for High Performance Computing and Artificial Intelligence use cases, moving some Bitcoin mining operations to Montana sites. Discussions are ongoing with potential customers for additional capacity.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-6.69%
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Ault Alliance, Inc.

NYSE:AULT

AULT Rankings

AULT Stock Data

11.33M
4.48M
0.05%
0.16%
53.2%
Optical Instrument and Lens Manufacturing
Manufacturing
Link
United States of America
LAS VEGAS

About AULT

dpw holdings, inc is a diverse holding company with a growth strategy of acquiring undervalued assets, disruptive technologies, sustainable solutions and impactful ventures for incubation and development to reach their full potential for long-term growth and returns for investors. we invest in diverse industries within the commercial, defense/aerospace, industrial, telecom, medical, crypto-mining, hospitality, textile, and investment/corporate lending markets. through our subsidiaries, we remain a leader and supplier of innovative technologies and services to cutting-edge power products and solutions.