Ault Alliance Targets $230M-$240M Revenue In FY24 Amid Strong Growth, Stock Gains
Portfolio Pulse from Nabaparna Bhattacharya
Ault Alliance, Inc. (AMEX:AULT) projects FY24 gross consolidated revenue of $230M-$240M, driven by growth at Sentinum, Inc., including data center operations and Bitcoin mining. The company has cleared its $38.5M senior secured debt and plans to start operations at a new Montana data center in January 2024, which will house 20 megawatts of initial capacity. This move aims to enhance profitability and cash flow by transitioning Bitcoin mining operations in-house. Ault Alliance's crane rental business, Circle 8 Crane Services, also contributes to the revenue forecast. AULT shares rose 8.92% premarket to $0.089.
December 26, 2023 | 2:29 pm
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Ault Alliance targets FY24 revenue of $230M-$240M, has repaid $38.5M debt, and is opening a new Montana data center to boost Bitcoin mining efficiency and profitability.
The positive revenue projection and the repayment of significant debt are strong indicators of financial health and growth potential. The opening of the new data center for Bitcoin mining operations is likely to be viewed positively by investors, as it suggests potential for increased efficiency and profitability. The premarket stock price increase reflects investor optimism, suggesting a positive short-term impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100