Ault Alliance appoints data center veteran as CEO of subsidiary responsible for managing Michigan Data Center and BitNile

02/21/2023 12:20 • Crypto & Markets • 130 views

On February 21, the diversified holding company Ault Alliance, Inc. announced that Jay Looney, a veteran of data center services, was the CEO of its wholly-owned subsidiary, AC Management, Inc. (ACM), responsible for managing the operations of the Michigan data center and its mining subsidiary, BitNile, Inc. It is understood that the Michigan Data Center currently operates about 9400 ant miners, including about 4600 S19 XP and 4700 S19j Pro. The company has about 11200 S19j Pro to be installed. （businesswire）

Ault Alliance appointed Jay Looney as the new CEO of its subsidiary to manage mining and other matters

Interpretation of the news:

Ault Alliance, Inc., a diversified holding company, has announced the appointment of Jay Looney as the new CEO of its wholly-owned subsidiary, AC Management, Inc. (ACM). The subsidiary is responsible for managing the operations of the Michigan Data Center and its mining subsidiary, BitNile, Inc. The Michigan Data Center currently operates approximately 9400 ant miners, with plans to install an additional 11,200 S19j Pro miners.

The appointment of a new CEO with a background in data center services suggests that Ault Alliance is investing in this area and intends to expand its operations. The company’s interest in data centers is likely due to the increasing demand for storage and processing power required for big data and cloud services. Moreover, with the rise of cryptocurrencies, particularly Bitcoin, data centers have become an essential component of the crypto industry as they are responsible for powering the networks that support crypto transactions and mining processes.

The investment in BitNile, the mining subsidiary of ACM, suggests that Ault Alliance is also interested in cryptocurrency mining. Cryptocurrency mining consumes a significant amount of energy and requires specialized computer hardware. With access to a data center and a significant number of ant miners, BitNile is in a good position to mine cryptocurrencies, including Bitcoin.

In summary, the appointment of Looney as CEO of ACM and the focus on data center services and cryptocurrency mining indicates that Ault Alliance is positioning itself as a player in the growing market for these services. The company’s investment in BitNile also suggests that it is looking to capitalize on the increasing demand for cryptocurrencies and cryptocurrency mining.

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