LAS VEGAS, Feb. 15, 2023 (GLOBE NEWSWIRE) -- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance”) and Ecoark Holdings, Inc. (“Ecoark”) (NASDAQ: ZEST) announced invitations to their respective stockholders to a tour of the next-generation marketplace, BitNile.com, Inc., currently a subsidiary of Ault Alliance (“BitNile.com”), on February 28, 2023. The tour will be led by Mr. Milton “Todd” Ault, III, the founder of BitNile.com, which is set to launch and “go live” March 1, 2023. BitNile.com’s development is led by Douglas Gintz, its President and Chief Product Officer. Ault and Ecoark jointly announced on February 9, 2023 that they have entered into a share exchange agreement whereby, upon closing, Ecoark will acquire 100% of the outstanding equity of BitNile.com.

Tour participants will experience first-hand the dynamic features, ambiance and capabilities of the metaverse platform (the “Platform”), which can readily accept Bitcoin. The Platform is being developed to enable users to access the Metaverse via the web browser allowing usage on any device such as mobile, tablets, PC’s and virtual reality headsets.

Ault Alliance and Ecoark expect the Platform to revolutionize how people interact digitally with a bidirectional connection to the physical world. The Platform will incentivize users through a tiered rewards system supported by a revenue and reward model. The Platform will be device-agnostic, where users will be able to play 3D immersive games, can purchase both digital and physical products, experience various forms of entertainment, and engage with a new social networking community across any of their internet connected devices. The Platform will allow users to participate in the Metaverse with unique avatars and customized skins, or digital accessories.

To join the introductory tour please use this link:
https://us06web.zoom.us/webinar/register/WN_VkYLF5T4R46h5zvnMP35GQ

Examples of the digital “in-world” experiences the Platform anticipates making available include slot machines, a sports book, Texas Hold’em tournaments, and various other games of chance using a sweepstakes model. The Platform is expected to have the ability to live-stream concerts and other forms of live entertainment, to create personalized avatars with fan favorite INDYCAR Series driver’s jersey and other unique digital skins. The Platform’s advertising model is expected to provide detailed targeting, backed by a multi-tiered next-gen reward system that incentivizes behavior. At launch, the Platform will be in beta format and not all of the experiences and functionality will be available immediately.

Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “The launch of BITNILE.COM has been many years in the making and we are proud of the progress that Douglas Gintz and his team have made. We look forward to introducing to the stockholders of both Ault and Ecoark what we believe is a new product and experience, the first of its kind, and I look forward to sharing more on February 28, 2023. We look forward to our launch on March 1, 2023.”

The Company invites the public to register for the initial launch using this link, https://BitNile.com/. Those signing up prior to the launch will be granted a future reward with details to follow.

Beyond the virtual, BitNile.com’s team of expert experience curators will craft unique real-world adventures, such as events where users will be able to dine with celebrities, go behind the scenes at NYC Fashion Week, explore off-grid Patagonia on horseback, or have naming rights to a stadium.

About Ault Alliance, Inc.

Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com.

About Ecoark Holdings, Inc.

Founded in 2011, Ecoark is a diversified holding company. Ecoark owns three principal subsidiaries either directly or indirectly: approximately 66% of Wolf Energy Services Inc. (OTCQB: WOEN) (“Wolf”) indirectly, 100% of Zest Labs, Inc. (“Zest Labs”) directly, and approximately 89% of Agora Digital Holdings Inc. (“Agora”) directly. Ecoark also owns approximately 70% of White River Energy Corp (OTCQB: WTRV) (“White River ”). Wolf provides trucking and other oilfield services through its Banner Midstream business. White River owns White River Holdings Corp., an oil and gas drilling, exploration, and production company. Zest Labs, offers the Zest Fresh™ solution, a breakthrough approach to quality management of fresh food, is specifically designed to help substantially reduce the $161 billion amount of food loss the U.S. experiences each year. Agora engaged in the mining of Bitcoin prior to the industry sell-off through its subsidiary, Bitstream Mining LLC, and is now transitioning to a hosting company. ZEST FRESH™ and Zest Labs™ are trademarks of Zest Labs, Inc.

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 neither Ault Alliance nor Ecoark undertake any obligation to update any of these statements 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. In addition to risks relating to the continuation of high oil prices and state regulation of bitcoin mining, investors should review risk factors, that could affect either or both of the Ault Alliance’s and Ecoark’s respective businesses and financial results which are included in Ault Alliance’s and Ecoark’s respective filings with the U.S. Securities and Exchange Commission, including, but not limited to, their respective Forms 10-K, 10-Q and 8-K. All such filings are available at www.sec.gov and on the companies’ websites at www.Ault.com and www.ecoarkusa.com, respectively.

Contacts

Ault Alliance Investor Contact:
IR@Ault.com or 1-888-753-2235

Ecoark Holdings Investor Contact:
investorrelations@ecoarkusa.com
or 1-800-762-7293

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/86cbfee7-ff2a-45c9-a982-eb5579b1eeb0