Todd Ault III Heads BitNile Holdings, Inc. Merger and Expansion
The extensive interests of Milton “Todd” Ault III are at the core of his work as the Founder and CEO of BitNile Holdings, Inc. (NYSE American: NILE). Todd leads his company in innovative business strategy and cutting-edge expertise in BitCoin, cryptocurrency, and market analysis. BitNile Holdings, Inc. is a BitCoin-oriented investment holding company with a diverse portfolio of assets, from defense technology to aerospace engineering to medical treatments.
They’ve just announced a groundbreaking merger with their fully-owned subsidiary, Ault Alliance, Inc. (AAII). As of January 3, 2023, this merger will be made effective and BitNile Holdings, Inc. shall take on its subsidiary’s name.
According to Todd, this change in name and infrastructure reflects the mission of the company’s development. “We began to build in 2017 and grow to become the diversified holding company we are today. We have built a diversified portfolio of companies with assets totalling more than $600 million. In the months ahead, we plan to operate in three main segments.”
These segments include “Energy and Infrastructure”, “Technology and Finance”, and “Hotels, Real Estate, and Data Center” – combining the niche interests of the BitNile Holdings, Inc. umbrella to optimize the development of each.
With the merger, the first quarter of Energy and Infrastructure will include oil exploration via Ault Energy, LLC, crane operations via Circle 8 Newco LLC, multiplexed laser surface enhancement of textiles via Avalanche International Corp., and investment in both Eco Pack Technologies and Unique Electric Solutions.
For Technology and Finance, the newly merged “Ault Alliance, Inc.” will include the California Finance Lending License by Ault Lending, LLC, consumer electronics by The Singing Machine Company (Nasdaq; MICS), BitCoin mining operations by BitNile, Inc., special purpose acquisitions by Ault Disruptive Technologies Corp. (NYSE American: ADRT), and investments in biopharma, biotechnology, and finances via Alzamend Neuro, Inc. (Nasdaq: ALZN), Adtech Pharma, Inc., and Earnity Inc.
Operations for “Hotels, Real Estate, and Data Center” will pertain to four MidWest Marriott and Hilton hotels, a land development project in Florida, the Michigan data center and limited partnership investment in Hotel Fouquet’s New York via Ault Global Real Estate Equities, Inc. and Alliance Cloud Services, LLC.
Despite the impressive diversity of their portfolio, Ault Alliance Inc. will continue to expand its reach further into both pre-existing and future sectors. This merger marks a revolutionary step in the company’s development, alongside the previously announced “plans to spin off Imperalis Holding Corp. (to be renamed TurnOnGreen, Inc.) and Giga-tronics Incorporated and excluding revenue from the announced spin-offs expects revenue of more than $200 million for 2023.”
By remaining adaptable, centralizing resources and leading in niche industry assets, Todd and his company are maintaining their authority in the evolving digital age and cryptocurrency markets.
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