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Ault Global Holdings' (DPW) BitNile Leads a $15M Series A Investment in Earnity

December 6, 2021 6:30 AM

Ault Global Holdings, Inc. (NYSE American: DPW) a diversified holding company, announced today that its subsidiary, BitNile, Inc., was the lead investor in a Series A offering from Earnity Inc, a San Mateo, Calif. based decentralized finance marketplace. Joining the Series A investment round are institutional investors Thorney, an Australian Securities Exchange-listed LIC company, and blockchain fund NGC Ventures. The investment by BitNile complements 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, through BitNile, 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.

Earnity has raised over $20 million in 2021 and aims to democratize access to the broadest array of cryptocurrency assets in a secure, educational, and community-oriented platform to global customers. In so doing, Earnity will provide users with the ability to earn, learn, collect and gift a variety of tokens and portfolios. Earnity was founded by Domenic Carosa, Founder and Chairman of Banxa Holdings Inc., a fiat-crypto payment processor for the digital asset industry and Co-Founder & Chairman of Apollo Capital, a crypto-focused investment fund, and is also led by an international team of executives with blockchain, fintech, and crypto experience with leading institutions including PayPal, eBay, Okcoin, Abra, JPMorgan, Visa, Western Union, and Google. Earnity expects to formally 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. In addition, 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.

The Company’s Founder and Executive Chairman, Milton “Todd” Ault, III said, “Earnity is a transformational investment for BitNile as it embarks on not only mining Bitcoin, the foundation of the crypto revolution, but also on bringing the benefits of DeFi to individuals worldwide.”

Domenic Carosa, Earnity’s founder, says, “We are thrilled to be partnering with Todd Ault, Chris Wu and the BitNile team, who share our vision of universal access to crypto in a safe, easy and engaging way, thereby aligning crypto’s original premise of fostering peer-to-peer interactions. We are looking ahead to launching many valuable services and supporting the growing crypto community in the coming months.”

For more information on Ault Global Holdings and its subsidiaries, the Company recommends that stockholders, investors, and any other interested parties read the Company’s public filings and press releases available under the Investor Relations section at www.AultGlobal.com or available at www.sec.gov.


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