Benzinga | Jun 7, 2021 06:34AM EDT

Ault Global Holdings Says Anticipates Additional Investment In Its Ault Alliance Subsidiary To Expand Data Center Power Capacity; Center Expected To Generate Gross Revenues Of $54M-$64M

Technology Data Center to Provide Cloud, High Density (Bitcoin and Ethereum Mining), and Enterprise Data Center Services

Ault Global Holdings, Inc. (NYSE: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.