Ault Global Holdings Subsidiary BitNile Leads $ 15 Million Series A Investment in Decentralized Funding Platform | national
LAS VEGAS – (BUSINESS WIRE) – December 6, 2021–
Ault Global Holdings, Inc. (NYSE American: DPW) a diversified holding company (the ” Society “), announced today that its subsidiary, BitNile, Inc. (” BitNile “), was the lead investor in a Series A offering of Earnity Inc. (” Gain “), a decentralized finance company based in San Mateo, California (” Challenge “) market. Institutional investors Thorney, an LIC company listed on the Australian Securities Exchange, and blockchain fund NGC Ventures join the Series A investment cycle. BitNile’s investment complements the Company’s announced plan to split into two public companies by pursuing a spin-off of Ault Alliance, Inc. (” Ault Alliance ”) To its shareholders. Following the Ault Alliance split, the company, through BitNile, will be an exclusive provider of Bitcoin mining and data center operations, continuing DeFi-related initiatives. Ault Alliance will continue to focus on the Company’s legacy businesses and more recently launched operations including lending and investing in distressed real estate and assets, among others, defense and power solutions, including electric vehicle charging products.
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Earnity raised over $ 20 million in 2021 and aims to democratize access to the widest range of cryptocurrency assets in a secure, educational, and community-driven platform for global clients. In doing so, Earnity will provide users with the opportunity to earn, learn, collect, and gift a variety of tokens and wallets. Earnity was founded by Domenic Carosa, founder and chairman of Banxa Holdings Inc. (OTCQX: BNXAF), a fiat-crypto payment processor for the digital asset industry and co-founder and chairman of Apollo Capital, a fund of investment focused on crypto, and is also led by an international team of executives with blockchain, fintech and crypto experience from leading institutions such as PayPal, eBay, Okcoin, Abra, JPMorgan, Visa , Western Union and Google. Earnity plans to officially launch its beta platform early in the first quarter of 2022. Earnity’s website is www.earnity.com.
As part of the investment, the company’s executive vice president of alternative investments, Christopher K. Wu, will join Earnity’s board of directors. Additionally, Earnity and BitNile have agreed to form joint ventures to develop and co-promote portfolios of non-fungible tokens and other DeFi products and protocols.
Company Founder and Executive Chairman Milton “Todd” Ault, III said, “Earnity is a transformational investment for BitNile as it not only embarks on Bitcoin mining, the foundation of the crypto revolution, but also to bring the benefits of DeFi to individuals. worldwide.”
Domenic Carosa, Founder of Earnity, said, “We are delighted to partner with Todd Ault, Chris Wu and the BitNile team, who share our vision for universal access to crypto in a secure, easy and engaging way. , thus aligning the original premise of crypto fostering peer-to-peer interactions. We plan to launch many valuable services and support the growing crypto community in the coming months. “
For more information about Ault Global Holdings and its subsidiaries, the Company recommends that shareholders, investors and other interested parties read the Company’s public documents and press releases available in the Investor Relations section of www.AultGlobal. com or available at www.sec .gov.
About Ault Global Holdings, Inc.
Ault Global Holdings, Inc. is a diversified holding company that continues to grow by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority owned subsidiaries and strategic investments, the Company owns and operates a data center in which it operates Bitcoin and provides mission critical products that support a wide range of industries, including defense. / aerospace, industry, automotive, telecommunications, medical / biopharmaceutical and textile. In addition, the Company grants credit to certain entrepreneurial businesses through an approved lending subsidiary. Ault Global Holdings is headquartered at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.AultGlobal.com.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend on or refer to future events or conditions, and include words such as “belief”, “plans”, “anticipates”, “plans”, “estimates” , “” Expects “,” intends “,” strategy “,” future “,” opportunity “,” may “,” will “,” should “,” could “,” potential “or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions which are subject to risks and uncertainties. Forward-looking statements speak only as of the date on which they are made, and the Company does not undertake to update them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement due to various factors. Further information, including potential risk factors, that could affect the business and financial results of the Company is included in the documents filed by the Company with the United States Securities and Exchange Commission, including, but without limitation, the Company’s 10-K, 10-Q and 8 forms. -K. All filed documents are available at www.sec.gov and on the Company’s website at www.AultGlobal.com.
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KEYWORD: UNITED STATES NORTH AMERICA NEVADA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY FINANCE SOFTWARE BANKING
SOURCE: Ault Global Holdings, Inc.
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PUB: 12/06/2021 6:30 a.m. / DISC: 12/06/2021 6:32 a.m.