Ault Alliance Inc. ("Ault Alliance") and BitNile Metaverse, Inc. ("BitNile Metaverse") announced today that BitNile.com (the "Platform") is celebrating the BitNile.com Grand Prix of Portland by giving 200,000 Nile tokens to everyone who creates an avatar on the Platform. BitNile Metaverse recently announced that the Platform is the title sponsor for this year's NTT INDYCAR SERIES event at Portland International Raceway ("PIR"), being held on September 3, 2023. The Platform is owned and operated by BitNile.com, Inc. ("BNC"), a wholly owned subsidiary of BitNile Metaverse, which is a consolidated minority beneficially owned subsidiary of Ault Alliance.

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BitNile Metaverse stated that from midnight, September 1, 2023 through 11:59 pm on September 30, 2023 (all times Eastern), any account, either new or previously active, that has a saved avatar on the Platform will be awarded a gift of 200,000 Nile Tokens for in-world use with social gaming on the Platform, including Roulette and Blackjack, the latter of which has been launched as of September 1, 2023. The Platform anticipates that the reward of 200,000 Nile tokens will be uploaded into each account within 72 hours of confirmation of the saved avatar.

The Platform is a rapidly growing virtual world with over 1.4 million engaged users. Launched earlier this year, the Platform introduced social gaming with the launch of roulette, offering users an opportunity to play for fun or real money prizes, and also allows gamers the opportunity to drive on virtual racetracks including the Indianapolis Motor Speedway. BNC also sponsors Ed Carpenter Racing, an NTT INDYCAR SERIES team that will be represented by previous Indianapolis 500 winner Ryan Hunter-Reay and Rinus VeeKay in the BitNile.com Grand Prix of Portland.

"BNC is launching this giveaway of 200,000 Nile tokens for use in the social gaming area of the Platform to achieve its goal of introducing the Platform to the widest audience possible and to gain the greatest number of new active memberships through the sponsorship of the Portland Grand Prix. We firmly believe that the BitNile.com Grand Prix of Portland embodies the essence of innovation and technology, mirroring the cutting-edge nature of the metaverse world," stated Milton "Todd" Ault III, Executive Chairman of Ault Alliance and BNC. "By sponsoring this thrilling event at PIR, we applaud BitNile.com's passion for technological advancement within their virtual world and for creating an electrifying experience for IndyCar fans both at the track and in the metaverse."

Users can access and explore the early-access version of the Platform and receive updates by visiting https://BitNile.com.

Single-day tickets for the BitNile.com Grand Prix of Portland at the PIR, featuring 10 total races from five different series and taking place between September 1 and September 3, 2023, are on sale. Ticket prices start as low as $25 for single-day general admission and $70 for single-day grandstand seats. Three-day tickets remain available for purchase and offer the best value. Fans should visit portlandgp.com to buy tickets for the BitNile.com Grand Prix of Portland weekend.

The 2023 BitNile.com Grand Prix of Portland marks the 29th running of this event, adding to the rich history of open-wheel racing in the Rose City. The NTT INDYCAR SERIES headlines the weekend events. This late-season race that could decide and finalize the championship chase. The series points leader after the completion of the past four Portland rounds (2018, 2019, 2021 and 2022) has gone on to claim the NTT INDYCAR SERIES championship. This year's field will feature returning race winners Scott McLaughlin (2022), Alex Palou (2021) and Will Power (2019). The grid will boast other notable drivers such as 10-year Formula One veteran Romain Grosjean and, including Mr. Power, eight Indianapolis 500 winners, including this year's winner Josef Newgarden, four-time winner Helio Castroneves, 2008 winner and six-time NTT INDYCAR SERIES champion Scott Dixon, Marcus Ericsson, Ryan Hunter-Reay, Simon Pagenaud and Alexander Rossi.

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 offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, 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 24w0, Las Vegas, NV 89141; www.Ault.com.

About BitNile Metaverse, Inc.

Founded in 2011, BitNile Metaverse (NASDAQ:BNMV) owns 100% of BNC, including the BitNile.com metaverse Platform. The Platform, which went live to the public on March 1, 2023, allows users to engage with a new social networking community and purchase both digital and physical products while playing 3D immersive games. In addition to BNC, BitNile Metaverse also owns three non-core subsidiaries either directly or indirectly: approximately 66% of Wolf Energy Services Inc. (OTCQB:WOEN) indirectly; 100% of Zest Labs, Inc. directly; and approximately 89% of Agora Digital Holdings Inc. directly. BitNile Metaverse also owns approximately 70% of White River Energy Corp (OTCQB:WTRV).

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 BitNile Metaverse 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 acceptance of the Platform by individuals, competition with much larger companies operating metaverses and BitNile Metaverse's ability to raise capital, investors should review risk factors, that could affect either or both of the Ault Alliance's and BitNile Metaverse's respective businesses and financial results which are included in Ault Alliance's and BitNile Metaverse'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.BitNile.net, respectively.

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Ault Alliance and BitNile Metaverse Announce Celebration of BitNile.com Grand Prix of Portland with 200,000 Token Giveaway