Core Insights - Ault Alliance, Inc. has decided to hold between 5% to 20% of the Bitcoin it mines on its balance sheet as part of a strategy to enhance enterprise value and drive stockholder returns [1][2] - The company achieved its highest monthly Bitcoin mining run rate in December 2023, mining approximately 151 Bitcoin, which translates to about $6.9 million for that month and an annual run rate of approximately $83.3 million based on a Bitcoin price of around $46,000 [1] Financial Strategy - The Chief Financial Officer highlighted that new accounting guidance will require Bitcoin to be measured at fair value on the balance sheet, with changes impacting net income each reporting period [2] - The financial team is prepared to manage the new accounting and disclosure requirements related to holding Bitcoin, ensuring compliance and optimal asset utilization [2] Company Overview - Ault Alliance is a diversified holding company focused on acquiring undervalued businesses and disruptive technologies, operating a data center for Bitcoin mining and offering colocation and hosting services [3] - The company also provides mission-critical products across various industries, including artificial intelligence, metaverse platforms, oil exploration, and more [3]
Ault Alliance to Begin Holding Bitcoin on Its Balance Sheet, Marking Change in Financial Strategy