Bitcoin Miner Ault Alliance Regains NYSE Compliance
Ault Alliance, Inc., a diversified holding company, has successfully regained compliance with the NYSE American's continued listing standards, according to a statement released by the company. The NYSE American had previously notified Ault Alliance of its non-compliance due to the low trading price of the company's common stock.
The company's return to compliance was achieved through management's efforts, including a potential reverse stock split, which was suggested as a means of demonstrating sustained price improvement. As a result of these efforts, the NYSE American has confirmed that Ault Alliance is now in full compliance with its continued listing standards. The ".BC" designation will be removed from the "AAI" trading symbol effective from the commencement of trading on July 5, 2023, and the company will also be removed from the list of NYSE American noncompliant issuers on the exchange's website.
Ault Alliance, Inc. is a diversified holding company that seeks growth by acquiring undervalued businesses and disruptive technologies with a global impact. The company owns and operates a data center where it mines Bitcoin and provides mission-critical products that support a diverse range of industries. These include the metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations, and textiles. Ault Alliance also extends credit to select entrepreneurial businesses through a licensed lending subsidiary.
On June 26, Ault Alliance provided an update on its Bitcoin production and mining operations. The company reported that approximately 19,000 miners are now active, delivering an operational hash rate of 2.1 exahashes per second.