Summary by Moomoo AI
Ault Alliance reported revenue of $76.3 million for H1 2024 and total assets of $271 million as of June 30, 2024. The company announced plans to reorganize into two separate entities: Hyperscale Data focusing on AI data centers and Bitcoin operations, and Ault Capital Group (ACG) operating as a private equity firm. Stockholders will receive special dividends comprising equity ownership in ACG.Key financial highlights include a 27% increase in digital assets mining revenue to $19.9 million, 23% growth in hotel and real estate revenue to $8.1 million, and a 47% sales increase in Enertec Systems. The company achieved significant cost reductions with a $17 million decrease in G&A expenses and a 59% reduction in interest expenses during H1 2024.The company plans to rebrand as Hyperscale Data, Inc. with ticker symbol GPUS in September 2024. The reorganization aims to maximize stockholder value by allowing each entity to focus on distinct growth trajectories, with ACG managing various subsidiaries including askROI, Ault Lending, BitNile.com, and TurnOnGreen.
