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Ault Alliance | 8-K: Current report

SEC announcement ·  Feb 29 00:33
Summary by Futu AI
On February 27, 2024, Ault Alliance, Inc., a diversified holding company, announced its preliminary financial results for the fiscal year ended December 31, 2023. The company reported a significant increase in revenue, reaching a record $153 million, which is a 30% rise from the previous year's $117.6 million. This growth excludes the results from discontinued operations at Ault Global Real Estate Equities, Inc. (AGREE). Including AGREE, the revenue would have been $169.2 million. Notable increases were seen in Sentinum, Inc.'s data center and Bitcoin mining revenue, which grew by 97%, and Circle 8 Crane Services, LLC, which saw a staggering 1696% increase due to a full year of ownership. Giga-tronics, Inc., a defense industry company, also contributed with a 25% increase in revenue. The company's operations are now streamlined under two subsidiaries, Sentinum and Ault Capital Group, to better reflect its strategic interests. The announcement also highlighted the positive impact of recent Bitcoin price increases on the company's outlook and its plans to focus on monetizing existing assets and optimizing operations.
On February 27, 2024, Ault Alliance, Inc., a diversified holding company, announced its preliminary financial results for the fiscal year ended December 31, 2023. The company reported a significant increase in revenue, reaching a record $153 million, which is a 30% rise from the previous year's $117.6 million. This growth excludes the results from discontinued operations at Ault Global Real Estate Equities, Inc. (AGREE). Including AGREE, the revenue would have been $169.2 million. Notable increases were seen in Sentinum, Inc.'s data center and Bitcoin mining revenue, which grew by 97%, and Circle 8 Crane Services, LLC, which saw a staggering 1696% increase due to a full year of ownership. Giga-tronics, Inc., a defense industry company, also contributed with a 25% increase in revenue. The company's operations are now streamlined under two subsidiaries, Sentinum and Ault Capital Group, to better reflect its strategic interests. The announcement also highlighted the positive impact of recent Bitcoin price increases on the company's outlook and its plans to focus on monetizing existing assets and optimizing operations.
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