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DESCRIPTION OF BUSINESS (Tables) | 12 Months Ended
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Dec. 31, 2021
Accounting Policies [Abstract] |
Schedule of consolidated statements balance sheet |
Schedule of consolidated statements balance sheet |  |  |  |  |  |  |  |  |  |  |  |
|  | For the Year Ended |
|  | December 31, 2020 |
|  | As Reported |  |  | Adjustment |  |  | As Restated |
STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Series A Convertible Preferred Stock, $25.00 stated value per share, |  | $ | - |  |  | $ | - |  |  | $ | - |
$0.001 par value – 1,000,000 shares authorized; 7,040 shares |  |  |  |  |  |  |  |  |  |  |  |
issued and outstanding at December 31, 2021 and 2020 |  |  |  |  |  |  |  |  |  |  |  |
(redemption amount and liquidation preference of $176,000 as of |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2021 and 2020) |  |  |  |  |  |  |  |  |  |  |  |
Series B Convertible Preferred Stock, $10 stated value per share, |  |  | - |  |  |  |  |  |  |  | - |
share, $0.001 par value – 500,000 shares authorized; 125,000 shares issued |  |  |  |  |  |  |  |  |  |  |  |
and outstanding at December 31, 2021 and 2020 (liquidation |  |  |  |  |  |  |  |  |  |  |  |
preference of $1,250,000 at December 31, 2021 and 2020) |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock, $0.001 par value – 500,000,000 shares authorized; |  |  | 28,000 |  |  |  |  |  |  |  | 28,000 |
84,344,607 and 27,753,562 shares issued and outstanding at December 31, |  |  |  |  |  |  |  |  |  |  |  |
2021 and 2020, respectively |  |  |  |  |  |  |  |  |  |  |  |
Class B Common Stock, $0.001 par value – 25,000,000 shares authorized; |  |  | - |  |  |  |  |  |  |  | - |
nil shares issued and outstanding at December 31, 2021 and 2020 |  |  |  |  |  |  |  |  |  |  |  |
Additional paid-in capital |  |  | 171,396,000 |  |  |  |  |  |  |  | 171,396,000 |
Accumulated deficit |  |  | (121,396,000 | ) |  |  | (933,000 | ) |  |  | (122,329,000 | )
Accumulated other comprehensive loss |  |  | (1,718,000 | ) |  |  | 933,000 |  |  |  | (785,000 | )
Treasury stock, at cost |  |  | - |  |  |  | - |  |  |  | - |
TOTAL BITNILE HOLDINGS STOCKHOLDERS’ EQUITY |  |  | 48,310,000 |  |  |  | - |  |  |  | 48,310,000 |
Non-controlling interest |  |  | 822,000 |  |  |  |  |  |  |  | 822,000 |
TOTAL STOCKHOLDERS’ EQUITY |  | $ | 49,132,000 |  |  | $ | - |  |  | $ | 49,132,000 |
Schedule of consolidated statements of operations and comprehensive loss |
Schedule of consolidated statements of operations and comprehensive loss |  |  |  |  |  |  |  |  |  |  |  |
|  | For the Year Ended |
|  | December 31, 2020 |
|  | As Reported |  |  | Adjustment |  |  | As Restated |
Revenue |  | $ | 23,629,000 |  |  | $ | - |  |  | $ | 23,629,000 |
Revenue, lending and trading activities |  |  | 242,000 |  |  |  |  |  |  |  | 242,000 |
Total revenue |  |  | 23,871,000 |  |  |  | - |  |  |  | 23,871,000 |
Cost of revenue |  |  | 16,357,000 |  |  |  |  |  |  |  | 16,357,000 |
Gross profit |  |  | 7,514,000 |  |  |  | - |  |  |  | 7,514,000 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Research and development |  |  | 1,849,000 |  |  |  |  |  |  |  | 1,849,000 |
Selling and marketing |  |  | 1,177,000 |  |  |  |  |  |  |  | 1,177,000 |
General and administrative |  |  | 12,521,000 |  |  |  |  |  |  |  | 12,521,000 |
Benefit for credit losses |  |  | (2,000,000 | ) |  |  |  |  |  |  | (2,000,000 | )
Total operating expenses |  |  | 13,547,000 |  |  |  | - |  |  |  | 13,547,000 |
Loss from continuing operations |  |  | (6,033,000 | ) |  |  |  |  |  |  | (6,033,000 | )
Other income (expenses) |  |  |  |  |  |  |  |  |  |  |  |
Interest and other income |  |  | 105,000 |  |  |  |  |  |  |  | 105,000 |
Change in fair value of equity securities, related party |  |  | - |  |  |  | 3,312,000 |  |  |  | 3,312,000 |
Interest expense |  |  | (9,648,000 | ) |  |  |  |  |  |  | (9,648,000 | )
Change in fair value of marketable equity securities |  |  | 919,000 |  |  |  |  |  |  |  | 919,000 |
Gain (loss) on extinguishment of debt |  |  | (18,706,000 | ) |  |  |  |  |  |  | (18,706,000 | )
Change in fair value of warrant liability |  |  | (49,000 | ) |  |  |  |  |  |  | (49,000 | )
Total other income (expenses), net |  |  | (27,379,000 | ) |  |  | 3,312,000 |  |  |  | (24,067,000 | )
Loss from continuing operations before income taxes |  |  | (33,412,000 | ) |  |  | 3,312,000 |  |  |  | (30,100,000 | )
Income tax (provision) benefit |  |  | 24,000 |  |  |  |  |  |  |  | 24,000 |
Net loss from continuing operations |  |  | (33,388,000 | ) |  |  | 3,312,000 |  |  |  | (30,076,000 | )
Net income from discontinued operations, net of taxes |  |  | 661,000 |  |  |  |  |  |  |  | 661,000 |
Net loss |  |  | (32,727,000 | ) |  |  | 3,312,000 |  |  |  | (29,415,000 | )
Net loss attributable to non-controlling interest |  |  | - |  |  |  |  |  |  |  | - |
Net loss attributable to Ault Alliance |  |  | (32,727,000 | ) |  |  | 3,312,000 |  |  |  | (29,415,000 | )
Preferred dividends |  |  | (18,000 | ) |  |  |  |  |  |  | (18,000 | )
Net loss available to common stockholders |  | $ | (32,745,000 | ) |  | $ | 3,312,000 |  |  | $ | (29,433,000 | )
Basic and diluted net loss per common share: |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  | $ | (3.48 | ) |  |  |  |  |  | $ | (3.13 | )
Discontinued operations |  |  | 0.07 |  |  |  |  |  |  |  | 0.07 |
Net loss per common share |  | $ | (3.41 | ) |  |  |  |  |  | $ | (3.06 | )
Weighted average common shares outstanding, basic and diluted |  |  | 9,606,000 |  |  |  |  |  |  |  | 9,606,000 |
Comprehensive loss |  |  |  |  |  |  |  |  |  |  |  |
Net loss available to common stockholders |  | $ | (32,745,000 | ) |  | $ | 3,312,000 |  |  | $ | (29,433,000 | )
Other comprehensive income |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment |  |  | 482,000 |  |  |  | - |  |  |  | 482,000 |
Net unrealized gain (loss) on derivative securities of related party |  |  | 3,312,000 |  |  |  | (3,312,000 | ) |  |  | - |
Other comprehensive income |  |  | 3,794,000 |  |  |  | (3,312,000 | ) |  |  | 482,000 |
Total comprehensive loss |  | $ | (28,951,000 | ) |  | $ | - |  |  | $ | (28,951,000 | )
|  | For the Year Ended |
|  | December 31, 2021 |
|  | As Reported |  |  | Adjustment |  |  | As Restated |
Revenue |  | $ | 32,096,000 |  |  | $ | - |  |  | $ | 32,096,000 |
Revenue, cryptocurrency mining, net |  |  | 3,450,000 |  |  |  |  |  |  |  | 3,450,000 |
Revenue, lending and trading activities |  |  | 16,854,000 |  |  |  |  |  |  |  | 16,854,000 |
Total revenue |  |  | 52,400,000 |  |  |  | - |  |  |  | 52,400,000 |
Cost of revenue |  |  | 23,858,000 |  |  |  |  |  |  |  | 23,858,000 |
Gross profit |  |  | 28,542,000 |  |  |  | - |  |  |  | 28,542,000 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Research and development |  |  | 2,041,000 |  |  |  |  |  |  |  | 2,041,000 |
Selling and marketing |  |  | 7,773,000 |  |  |  |  |  |  |  | 7,773,000 |
General and administrative |  |  | 36,686,000 |  |  |  |  |  |  |  | 36,686,000 |
Impairment of mined cryptocurrency |  |  | 403,000 |  |  |  |  |  |  |  | 403,000 |
Total operating expenses |  |  | 46,903,000 |  |  |  | - |  |  |  | 46,903,000 |
Loss from continuing operations |  |  | (18,361,000 | ) |  |  |  |  |  |  | (18,361,000 | )
Other income (expenses) |  |  |  |  |  |  |  |  |  |  |  |
Interest and other income |  |  | 808,000 |  |  |  |  |  |  |  | 808,000 |
Change in fair value of equity securities, related party |  |  | - |  |  |  | (7,773,000 | ) |  |  | (7,773,000 | )
Accretion of discount on note receivable, related party |  |  | - |  |  |  | 4,210,000 |  |  |  | 4,210,000 |
Impairment of debt securities, net |  |  | (5,090,000 | ) |  |  | 4,496,000 |  |  |  | (594,000 | )
Interest expense |  |  | (1,871,000 | ) |  |  |  |  |  |  | (1,871,000 | )
Change in fair value of marketable equity securities |  |  | (1,327,000 | ) |  |  |  |  |  |  | (1,327,000 | )
Realized gain on marketable securities |  |  | 1,924,000 |  |  |  |  |  |  |  | 1,924,000 |
Loss from equity investment |  |  | (311,000 | ) |  |  |  |  |  |  | (311,000 | )
Gain (loss) on extinguishment of debt |  |  | 929,000 |  |  |  |  |  |  |  | 929,000 |
Change in fair value of warrant liability |  |  | (542,000 | ) |  |  |  |  |  |  | (542,000 | )
Total other income (expenses), net |  |  | (5,480,000 | ) |  |  | 933,000 |  |  |  | (4,547,000 | )
Loss from continuing operations before income taxes |  |  | (23,841,000 | ) |  |  | 933,000 |  |  |  | (22,908,000 | )
Income tax (provision) benefit |  |  | (130,000 | ) |  |  |  |  |  |  | (130,000 | )
Net loss from continuing operations |  |  | (23,971,000 | ) |  |  | 933,000 |  |  |  | (23,038,000 | )
Net income from discontinued operations, net of taxes |  |  | - |  |  |  |  |  |  |  | - |
Net loss |  |  | (23,971,000 | ) |  |  | 933,000 |  |  |  | (23,038,000 | )
Net loss attributable to non-controlling interest |  |  | (213,000 | ) |  |  |  |  |  |  | (213,000 | )
Net loss attributable to Ault Alliance |  |  | (24,184,000 | ) |  |  | 933,000 |  |  |  | (23,251,000 | )
Preferred dividends |  |  | (18,000 | ) |  |  |  |  |  |  | (18,000 | )
Net loss available to common stockholders |  | $ | (24,202,000 | ) |  | $ | 933,000 |  |  | $ | (23,269,000 | )
Basic and diluted net loss per common share: |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  | $ | (0.44 | ) |  |  |  |  |  | $ | (0.42 | )
Discontinued operations |  |  | 0.00 |  |  |  |  |  |  |  | 0.00 |
Net loss per common share |  | $ | (0.44 | ) |  |  |  |  |  | $ | (0.42 | )
Weighted average common shares outstanding, basic and diluted |  |  | 55,444,000 |  |  |  |  |  |  |  | 55,444,000 |
Comprehensive loss |  |  |  |  |  |  |  |  |  |  |  |
Net loss available to common stockholders |  | $ | (24,202,000 | ) |  | $ | 933,000 |  |  | $ | (23,269,000 | )
Other comprehensive income |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment |  |  | 85,000 |  |  |  | - |  |  |  | 85,000 |
Net unrealized gain (loss) on derivative securities of related party |  |  | (7,773,000 | ) |  |  | 7,773,000 |  |  |  | - |
Impairment of debt securities |  |  | 9,300,000 |  |  |  | (8,706,000 | ) |  |  | 594,000 |
Other comprehensive income |  |  | 1,612,000 |  |  |  | (933,000 | ) |  |  | 679,000 |
Total comprehensive loss |  | $ | (22,590,000 | ) |  | $ | - |  |  | $ | (22,590,000 | )
Schedule of condensed consolidated statements of changes in stockholders’ equity |
Schedule of condensed consolidated statements of changes in stockholders’ equity |  |  |  |  |  |  |  |  |  |  |  |
|  | January 1, 2020 |
|  | As Reported |  |  | Adjustment |  |  | As Restated |
STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  | $ | 3,000 |  |  | $ | - |  |  | $ | 3,000 |
Additional paid-in capital |  |  | 101,099,000 |  |  |  |  |  |  |  | 101,099,000 |
Accumulated deficit |  |  | (88,650,000 | ) |  |  | (4,245,000 | ) |  |  | (92,895,000 | )
Accumulated other comprehensive loss |  |  | (5,511,000 | ) |  |  | 4,245,000 |  |  |  | (1,266,000 | )
TOTAL AULT ALLIANCE STOCKHOLDERS’ EQUITY |  |  | 6,941,000 |  |  |  | - |  |  |  | 6,941,000 |
Non-controlling interest |  |  | 8,000 |  |  |  |  |  |  |  | 8,000 |
TOTAL STOCKHOLDERS’ EQUITY |  | $ | 6,949,000 |  |  | $ | - |  |  | $ | 6,949,000 |
|  | December 31, 2020 |
|  | As Reported |  |  | Adjustment |  |  | As Restated |
STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  | $ | 28,000 |  |  | $ | - |  |  | $ | 28,000 |
Additional paid-in capital |  |  | 171,396,000 |  |  |  |  |  |  |  | 171,396,000 |
Accumulated deficit |  |  | (121,396,000 | ) |  |  | (933,000 | ) |  |  | (122,329,000 | )
Accumulated other comprehensive loss |  |  | (1,718,000 | ) |  |  | 933,000 |  |  |  | (785,000 | )
TOTAL AULT ALLIANCE STOCKHOLDERS’ EQUITY |  |  | 48,310,000 |  |  |  | - |  |  |  | 48,310,000 |
Non-controlling interest |  |  | 822,000 |  |  |  |  |  |  |  | 822,000 |
TOTAL STOCKHOLDERS’ EQUITY |  | $ | 49,132,000 |  |  | $ | - |  |  | $ | 49,132,000 |
Schedule of consolidated statements of cash flows |
Schedule of consolidated statements of cash flows |  |  |  |  |  |  |  |  |  |  |  |
|  | For the Year Ended |
|  | December 31, 2020 |
|  | As Reported |  |  | Adjustment |  |  | As Restated |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (32,727,000 | ) |  | $ | 3,312,000 |  |  | $ | (29,415,000 | )
Less: Net income from discontinued operations |  |  | 661,000 |  |  |  |  |  |  |  | 661,000 |
Net loss from continuing operations |  |  | (33,388,000 | ) |  |  | 3,312,000 |  |  |  | (30,076,000 | )
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Depreciation |  |  | 392,000 |  |  |  |  |  |  |  | 392,000 |
Amortization |  |  | 336,000 |  |  |  |  |  |  |  | 336,000 |
Amortization of right-of-use assets |  |  | (140,000 | ) |  |  |  |  |  |  | (140,000 | )
Interest expense – debt discount |  |  | 7,251,000 |  |  |  |  |  |  |  | 7,251,000 |
Loss on extinguishment of debt |  |  | 18,706,000 |  |  |  |  |  |  |  | 18,706,000 |
Change in fair value of warrant liability |  |  | 49,000 |  |  |  |  |  |  |  | 49,000 |
Accretion of original issue discount on notes receivable – related party |  |  | 22,000 |  |  |  |  |  |  |  | 22,000 |
Accretion of original issue discount on notes receivable |  |  | (62,000 | ) |  |  |  |  |  |  | (62,000 | )
Increase in accrued interest on notes receivable – related party |  |  | (1,000 | ) |  |  |  |  |  |  | (1,000 | )
Stock-based compensation |  |  | 1,106,000 |  |  |  |  |  |  |  | 1,106,000 |
Impairment of cryptocurrencies |  |  | (5,000 | ) |  |  |  |  |  |  | (5,000 | )
Realized losses on other investments |  |  | 39,000 |  |  |  |  |  |  |  | 39,000 |
Realized gains on sale of marketable securities |  |  | (75,000 | ) |  |  |  |  |  |  | (75,000 | )
Unrealized gains on marketable equity securities |  |  | (796,000 | ) |  |  |  |  |  |  | (796,000 | )
Unrealized gains on equity securities – related party |  |  | (298,000 | ) |  |  | (3,312,000 | ) |  |  | (3,610,000 | )
Unrealized losses on equity securities |  |  | 73,000 |  |  |  |  |  |  |  | 73,000 |
Provision for loan losses |  |  | (2,000,000 | ) |  |  |  |  |  |  | (2,000,000 | )
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  |  | (641,000 | ) |  |  |  |  |  |  | (641,000 | )
Accrued revenue |  |  | 645,000 |  |  |  |  |  |  |  | 645,000 |
Inventories |  |  | 183,000 |  |  |  |  |  |  |  | 183,000 |
Prepaid expenses and other current assets |  |  | (1,613,000 | ) |  |  |  |  |  |  | (1,613,000 | )
Other assets |  |  | (88,000 | ) |  |  |  |  |  |  | (88,000 | )
Accounts payable and accrued expenses |  |  | (364,000 | ) |  |  |  |  |  |  | (364,000 | )
Accounts payable, related parties |  |  | (28,000 | ) |  |  |  |  |  |  | (28,000 | )
Other current liabilities |  |  | (650,000 | ) |  |  |  |  |  |  | (650,000 | )
Lease liabilities |  |  | 168,000 |  |  |  |  |  |  |  | 168,000 |
Net cash used in continuing operating activities |  |  | (11,179,000 | ) |  |  | - |  |  |  | (11,179,000 | )
Net cash provided by discontinued operating activities |  |  | 1,000 |  |  |  | - |  |  |  | 1,000 |
Net cash used in operating activities |  | $ | (11,178,000 | ) |  | $ | - |  |  | $ | (11,178,000 | )
|  | For the Year Ended |
|  | December 31, 2021 |
|  | As Reported |  |  | Adjustment |  |  | As Restated |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (23,971,000 | ) |  | $ | 933,000 |  |  | $ | (23,038,000 | )
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Depreciation |  |  | 2,103,000 |  |  |  |  |  |  |  | 2,103,000 |
Amortization |  |  | 375,000 |  |  |  |  |  |  |  | 375,000 |
Amortization of right-of-use assets |  |  | 950,000 |  |  |  |  |  |  |  | 950,000 |
Amortization, related party |  |  | 30,000 |  |  |  |  |  |  |  | 30,000 |
Interest expense – debt discount |  |  | 1,076,000 |  |  |  |  |  |  |  | 1,076,000 |
Gain on extinguishment of debt |  |  | (929,000 | ) |  |  |  |  |  |  | (929,000 | )
Change in fair value of warrant liability |  |  | 542,000 |  |  |  |  |  |  |  | 542,000 |
Accretion of original issue discount on notes receivable – related party |  |  | - |  |  |  | (4,210,000 | ) |  |  | (4,210,000 | )
Impairment of debt securities |  |  | 5,090,000 |  |  |  | (4,496,000 | ) |  |  | 594,000 |
Accretion of original issue discount on notes receivable |  |  | 21,000 |  |  |  |  |  |  |  | 21,000 |
Increase in accrued interest on notes receivable – related party |  |  | (235,000 | ) |  |  |  |  |  |  | (235,000 | )
Stock-based compensation |  |  | 7,750,000 |  |  |  |  |  |  |  | 7,750,000 |
Impairment of cryptocurrencies |  |  | 403,000 |  |  |  |  |  |  |  | 403,000 |
Realized gains on sale of marketable securities |  |  | (21,187,000 | ) |  |  |  |  |  |  | (21,187,000 | )
Unrealized losses on marketable equity securities |  |  | 14,127,000 |  |  |  |  |  |  |  | 14,127,000 |
Unrealized losses on equity securities – related party |  |  | 5,754,000 |  |  |  | 7,773,000 |  |  |  | 13,527,000 |
Unrealized gains on equity securities |  |  | (10,734,000 | ) |  |  |  |  |  |  | (10,734,000 | )
Loss from equity investment |  |  | 311,000 |  |  |  |  |  |  |  | 311,000 |
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Marketable equity securities |  |  | (29,398,000 | ) |  |  |  |  |  |  | (29,398,000 | )
Accounts receivable |  |  | (1,407,000 | ) |  |  |  |  |  |  | (1,407,000 | )
Accrued revenue |  |  | (498,000 | ) |  |  |  |  |  |  | (498,000 | )
Inventories |  |  | (2,031,000 | ) |  |  |  |  |  |  | (2,031,000 | )
Prepaid expenses and other current assets |  |  | (5,548,000 | ) |  |  |  |  |  |  | (5,548,000 | )
Digital currencies |  |  | (3,450,000 | ) |  |  |  |  |  |  | (3,450,000 | )
Other assets |  |  | (1,526,000 | ) |  |  |  |  |  |  | (1,526,000 | )
Accounts payable and accrued expenses |  |  | 1,613,000 |  |  |  |  |  |  |  | 1,613,000 |
Accounts payable, related parties |  |  | 17,000 |  |  |  |  |  |  |  | 17,000 |
Lease liabilities |  |  | (919,000 | ) |  |  |  |  |  |  | (919,000 | )
Net cash used in operating activities |  | $ | (61,671,000 | ) |  | $ | - |  |  | $ | (61,671,000 | )

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