Who Owns Ault Alliance Company?

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Who owns Ault Alliance Company?

Understanding a company's ownership is key to grasping its direction and accountability. Ault Alliance, Inc. is undergoing a significant transformation, rebranding to Hyperscale Data, Inc. on September 10, 2024, and focusing on data center operations.

This strategic pivot highlights the evolving landscape of its ownership and operational focus, impacting its market position.

Who owns Ault Alliance Company?

Ault Alliance, Inc., established in September 2017 and formerly known by several other names including BitNile Holdings, Inc., is a diversified holding company headquartered in Las Vegas, Nevada. Its founder, Milton 'Todd' Ault III, established the company with a vision for diversified investments, including data centers and Bitcoin mining, aiming for long-term shareholder value. The company's financial standing shows a market capitalization of $1.38 million as of July 30, 2025, with revenues of $76.3 million for the first half of 2024 and total assets reaching $271 million by June 30, 2024. This analysis will explore the company's ownership structure, including founder stakes, institutional investors, and public shareholders, and how these have shifted over time, impacting its strategic direction such as its Ault Alliance BCG Matrix analysis.

Ault Alliance, Inc. was incorporated in September 2017, with Milton C. Ault III, also known as Todd Ault, as its founder and primary owner. His entrepreneurial background includes the successful sale of Patient Safety Technologies, Inc. for $120 million in 2013.

Founder and Primary Owner

Milton C. Ault III is the founder and central figure in the ownership of Ault Alliance, Inc. He has consistently maintained a significant ownership stake since the company's inception.

Early Ownership Structure

Specific details regarding the initial equity distribution at the company's 2017 incorporation are not publicly disclosed. However, Milton C. Ault III's substantial ownership presence has been evident.

Key Shareholder Information

As of August 30, 2024, Milton C. Ault III held 90,229 shares of common stock indirectly through Ault & Company, Inc., where he is CEO. He also directly owned 11,545 shares of common stock.

Preferred Stock Holdings

In addition to common stock, Milton C. Ault III directly held 110 shares of 13% Series D Cumulative Redeemable Perpetual Preferred Stock as of August 30, 2024.

Other Early Investors

Public filings do not explicitly detail early backers or angel investors in Ault Alliance, Inc. beyond the ownership held by Ault & Company, Inc.

Founder's Business Acumen

Milton C. Ault III's entrepreneurial track record, including the sale of Patient Safety Technologies, Inc. for $120 million, underscores his experience in building and exiting businesses.

Ault Alliance Ownership Overview

Milton C. Ault III, also known as Todd Ault, is the founder and principal owner of Ault Alliance, Inc. His significant stake in the company, coupled with his prior entrepreneurial success, positions him as the central figure in the company's ownership structure. Understanding the Target Market of Ault Alliance can provide further context to its strategic direction and ownership focus.

• Ault Alliance, Inc. was incorporated in September 2017.
• Milton C. Ault III is the founder and primary owner.
• As of August 30, 2024, he indirectly owned 90,229 shares of common stock through Ault & Company, Inc.
• He also directly held 11,545 shares of common stock and 110 shares of preferred stock.
• Early investor details beyond Ault & Company, Inc. are not publicly specified.

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Ault Alliance, Inc., a publicly traded entity on the NYSE American under the ticker AULT, has seen considerable fluctuation in its market valuation. Notably, its market capitalization surged by 891.2% from $544.21K in January 2024 to $5.40M by December 2024. As of July 21, 2025, the market capitalization was reported at $15.29 million, with a subsequent report indicating $1.38 million as of July 30, 2025.

The ownership structure of Ault Alliance, Inc. is characterized by a blend of institutional investors and significant individual holdings. As of September 9, 2024, the company had 9 institutional owners holding a total of 42,652 shares, representing 1.81% of institutional ownership. Key institutional shareholders include UBS Group AG, Fidelity Series Total Market Index Fund (FCFMX), Fidelity Extended Market Index Fund (FSMAX), Tower Research Capital LLC (TRC), Valley National Advisers Inc, SBI Securities Co., Ltd., Vanguard Extended Market Index Fund Investor Shares (VEXMX), Bank Of America Corp /de/, and BlackRock, Inc. Milton C. Ault III, the Executive Chairman, is a pivotal individual shareholder, with substantial indirect ownership vested through Ault & Company, Inc., an affiliated entity. This stake was further solidified in December 2023 when Ault Alliance concluded a $41.5 million Series C convertible preferred stock financing with Ault & Company, Inc., underscoring the evolving Ault Alliance ownership landscape.

Understanding Ault Alliance's Stakeholders

Identifying who owns Ault Alliance involves looking at both institutional and individual investors. The company's corporate structure and management play a crucial role in its direction.

• Institutional ownership represents a small but significant portion of Ault Alliance Inc.
• Milton C. Ault III is a key individual shareholder and Executive Chairman.
• Ault & Company, Inc. holds a substantial indirect stake.
• The company's market capitalization has shown significant volatility.
• Understanding Ault Alliance's investor relations is key to grasping its ownership details.

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The governance of Ault Alliance, Inc. is overseen by its current board of directors. As of June 28, 2024, the board comprises Milton C. Ault III, William B. Horne (who also serves as CEO), Henry C. Nisser, Robert O. Smith, Jeffrey A. Bentz, and Mordechai Rosenberg. Milton C. Ault III holds the key position of Executive Chairman.

The voting power within Ault Alliance, Inc. is primarily structured around a one-share-one-vote principle for its common stock. As of May 6, 2024, the company had 30,065,339 shares of common stock issued and outstanding, with each share granting one vote. However, Ault & Company, Inc., a holder of Series C Convertible Preferred Stock, faces a voting restriction. This restriction prevents them from voting more than 19.99% of the total preferred stock originally issuable, unless specific proposals receive stockholder approval. This structure, combined with substantial holdings, gives Milton C. Ault III and Ault & Company, Inc. considerable influence over company decisions. Shareholder engagement in governance was evident at the 2024 Annual Meeting of Stockholders on June 28, 2024, where a proposal to approve the Ault Alliance, Inc. 2024 Stock Incentive Plan was rejected by shareholders.

Understanding Ault Alliance's Shareholder Influence

Milton C. Ault III, as Executive Chairman, and Ault & Company, Inc. hold significant voting influence. This influence is shaped by their substantial stock holdings and specific voting limitations on preferred stock.

• Milton C. Ault III is the Executive Chairman.
• Ault & Company, Inc. holds Series C Convertible Preferred Stock.
• Voting power is generally one-share-one-vote for common stock.
• Ault & Company, Inc. voting is capped at 19.99% of preferred stock.
• Shareholder decisions impact company plans, as seen with the rejected stock incentive plan.

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In recent years, Ault Alliance has undergone significant strategic shifts, including a major rebranding to Hyperscale Data, Inc. (GPUS) in September 2024. This transition underscores a strategic pivot towards expanding its data center capabilities, particularly in Michigan.

The company's strategic direction is heavily influenced by its planned tenfold expansion of its Michigan AI data center, aiming to increase capacity from approximately 30 megawatts to 300 megawatts. This expansion is subject to regulatory approvals and securing necessary funding. The restructuring into Sentinum, Inc. and Ault Capital Group, Inc. is designed to streamline operations and highlight its focus on data center and digital asset activities. The recent share acquisitions by Executive Chairman Milton C. Ault III, including 10,000 shares on August 30, 2024, and a combined 1,300 shares in mid-August 2024, signal continued insider commitment. These developments are part of a broader strategy to enhance shareholder value and align the company's structure with its future growth objectives, building upon its Brief History of Ault Alliance.

Strategic Rebranding and Focus Shift

Ault Alliance rebranded to Hyperscale Data, Inc. (GPUS) in September 2024. This change reflects a strategic move towards expanding its data center operations.

Corporate Restructuring and Operational Segments

The company is restructuring into two main segments: Sentinum, Inc. for data centers and Bitcoin mining, and Ault Capital Group, Inc. for other entities.

Insider Confidence and Shareholder Value Initiatives

Executive Chairman Milton C. Ault III has recently acquired shares, demonstrating insider confidence. The company also plans special stock dividends as part of its reorganization.

Data Center Expansion Plans

There are plans to significantly expand the Michigan AI data center from 30 megawatts to 300 megawatts. This expansion is contingent on regulatory approvals and funding.

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