BitNile Holdings completes name and stock ticker symbol change from Ault Global Holdings

By Edlyn Cardoza

BitNile Holdings, Inc, a diversified holding company, recently announced that it has completed the Company’s previously announced corporate name change from “Ault Global Holdings, Inc.” to “BitNile Holdings, Inc.” In conjunction with the corporate name change, the Company will begin trading on the NYSE American under the new ticker symbol, NILE, effective at the open of market trading.

This change follows the Company’s announced plan to split into two public companies by pursuing a spin-off of Ault Alliance, Inc. to its stockholders. Following the spin-off of Ault Alliance, the Company will be a pure-play provider of Bitcoin mining and data center operations, pursuing DeFi-related initiatives. Ault Alliance will continue its focus on the Company’s legacy businesses and more recently initiated operations, including lending and investing in the real estate and distressed asset spaces, among others, defense, and power solutions, including electric vehicle charging products.

The Company believes that both BitNile and Ault Alliance will, as separate public companies, be better positioned to deliver long-term growth and maximize stockholder value, reflecting a market value of comparable pure-play peer companies.

The Company’s Founder and Executive Chairman, Milton “Todd” Ault, III said, “Our name change to BitNile coupled with our investments in Bitcoin mining equipment, our Michigan data center and DeFi initiatives, including Earnity, demonstrate our focus for the future of the Company. We have announced purchase commitments to grow active miners to 20,600 by the end of 2022 as we seek to become one of the top 10 publicly traded Bitcoin mining companies.”

Recently, IBS Intelligence reported that Ault Global Holdings, Inc., a diversified holding company, announced its plan to split into two public companies by pursuing a spin-off of Ault Alliance to its stockholders. Ault Alliance will continue its focus on the Company’s legacy businesses and more recently initiated operations, including lending and investing in the real estate and distressed asset spaces, among others, defence, and power solutions, including EV charging products. Following the spin-off of Ault Alliance, the Company, through its BitNile subsidiary, will be a pure-play provider of Bitcoin mining and data centre operations, pursuing DeFi-related initiatives.