On Tuesday, Ault Alliance, Inc. (AMEX:AULT) said it is targeting gross consolidated revenue between $230 million and $240 million in FY24.

The company said it has completed the repayment of its $38.5 million senior secured debt as of December 14th, 2023.

Ault Alliance is sharing these projections based on substantial growth at Sentinum, Inc., including data center operations and Bitcoin mining. 

On December 4th, the company announced that Sentinum plans to begin operations at its new Montana data center in January 2024. 

Also Read: Checking Out To Cash In: Ault Alliance Plans To Sell Renovated Midwest Hotels For $100M

The opening of this new data center will expedite the company's plans to improve its profitability and efficiency by transitioning some of its miners from a third-party hosted Bitcoin mining operation to its own facility in Montana.

The company anticipates the initial transition of its mining hardware will begin in January, focusing on optimizing operational costs and improving cash flow. 

The new Montana data center consists of two sites and shall have a combined initial capacity of 20 megawatts once operational.

"Our Montana data center is set to become a cornerstone of our mining operations and is expected to drive efficiency and contribute towards profitability in 2024," Milton "Todd" Ault III, Executive Chairman of Ault Alliance said.

Additionally, the strong performance of its crane rental business, Circle 8 Crane Services, contributes to the updates of 2024 revenues, the company said.

Read Next: Intel Scores Big With $3.2B Government Grant For $25B Israel Chip Plant: Report

Price Action: AULT shares are trading higher by 8.92% premarket to $0.089 on the last check Tuesday.