Jun 03, 2024 6:30 AM
The Company notes that the preferred dividend may range from 0.25% of the face value of the preferred stock, which is
The Company will seek stockholder approval to increase the number of authorized preferred shares. This transaction is meant for stockholders as of a to-be-determined future record date. The Company would seek to have this new class of preferred stock trade on a national exchange, pending stockholder approval. The new preferred stock is anticipated to have a stated value of
Milton “Todd” Ault III, Executive Chairman and Founder of the Company, stated, “This initiative has been important to the Company for a considerable amount of time, and we are committed to rewarding our stockholders. We are focusing on the logistics of accomplishing this dividend and are excited with the progress Sentinum, and the Company as a whole, have made in regard to its Bitcoin mining operations. This new preferred stock will reward stockholders with a percentage of the profits and future cash flows to be determined by the Board of Directors. We believe this is a unique opportunity to allow stockholders the opportunity to participate directly in one of our platform companies, Sentinum.”
With approximately 18,000 Bitcoin mining units operating and plans to expand its AI data center business, the Company is confident that this strategy will reward stockholders in both the short term and long term. The Company remains committed to maintaining its Bitcoin mining operations, which is expected to evolve from solely self-mined operations, to include the hosting of third party owned miners, and will continue to work on improving margins while expanding mining capabilities.
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Forward-Looking Statements
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 upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “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 that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the
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