From Investing.com:

Ault Alliance, Inc. (NYSE American: AULT) has announced plans to hold up to 20 percent of the Bitcoin it mines on its balance sheet, part of a larger strategy to increase the company’s value. The company’s subsidiary, Sentinum, Inc., had a record-breaking month in Bitcoin mining, with approximately 151 Bitcoin mined in December 2023, worth around $6.9 million at a price of $46,000 per Bitcoin.

The decision to hold Bitcoin on its balance sheet aligns with Ault Alliance’s commitment to the digital economy’s evolution. The company is set to capitalize on the potential of Bitcoin as a sustainable asset class and stay ahead of the curve in asset management. Ault Alliance recommends that investors and interested parties refer to their public filings and press releases for more information.

Ault Alliance’s CFO, Kenneth S. Cragun, noted that the new accounting guidance will require companies to measure Bitcoin at fair value on their balance sheets, with changes recorded in net income each reporting period. This strategic move demonstrates Ault Alliance’s commitment to adapting its overall asset management strategy and staying current with the evolving digital economy.

Founder and Executive Chairman, Milton “Todd” Ault III, emphasized his confidence in Bitcoin’s potential, aligning with insights from industry experts and citing Michael Saylor’s documented white papers on the topic. Ault Alliance is positioning itself to capitalize on the short-term and long-term potential of this digital asset, in line with their broader asset management approach to increase enterprise value and benefit stockholders.



Read more: Ault Alliance to Begin Holding Bitcoin on Its Balance Sheet By Investing.com