BitNile Holdings Issues June Bitcoin Production and Mining Operation Report
July 06 2022 - 6:30AM
Business Wire
BitNile Holdings, Inc. (NYSE American: NILE), a diversified
holding company (“BitNile” or the “Company”) today
published an unaudited update on Bitcoin production and miner
deliveries. The number of miners and production capacity metrics
set forth within this press release represent the S19j Pro
Antminers at the Michigan Data Center. BitNile’s Bitcoin mining
production is currently operating at an estimated annualized run
rate of 698 Bitcoin based on current market conditions, including a
mining difficulty of 29.57 trillion.
BitNile has 9,645 S19j Pro Antminers in its possession and once
installed will generate a combined processing power of
approximately 965.5 petahashes per second, the computational power
that is being used to mine Bitcoin. During the month of June 2022,
BitNile self-mined 46.4 Bitcoin. To date, BitNile has mined a total
of 256.5 Bitcoin. As of June 30, 2022, BitNile held 140.8 Bitcoin
and currently has no plans to sell.
Milton “Todd” Ault, III, the Company’s Executive Chairman,
stated, “As we ramp up the number of miners, we are both upgrading
our Michigan Data Center’s power capacity and continuing to
evaluate the best opportunities beyond the Michigan Data Center for
additional capacity. We will provide a detailed update on mining
operations and expansion plans in our quarterly earnings update
call in August.”
As previously disclosed, BitNile has entered into purchase
agreements with Bitmain Technologies Limited (“Bitmain”) for
a total of 20,600 Bitcoin miners, including 4,600 environmentally
friendly S19 XP Antminers that feature a processing power of 140
terahashes per second (“TH/s”) and 16,000 S19j Pro Antminers
that feature a processing power of 100 TH/s.
BitNile began receiving 300 S19j Pro Antminers per month in
November 2021 in accordance with the purchase agreements it has
executed with Bitmain. Beginning in March 2022, this schedule
increased to 2,300 miners per month. Once all 20,600 miners are
fully deployed and operational, BitNile is expected to achieve
mining production capacity of approximately 2.24 exahashes per
second.
The Company notes that all estimates and other projections are
subject to the actual delivery and installation of Bitcoin miners,
the volatility in Bitcoin market price, the fluctuation in the
mining difficulty level, and other factors that may impact the
results of production or operations.
For more information on BitNile and its subsidiaries, BitNile
recommends that stockholders, investors, and any other interested
parties read BitNile’s public filings and press releases available
under the Investor Relations section at www.BitNile.com or
available at www.sec.gov.
About BitNile Holdings, Inc.
BitNile Holdings, 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, BitNile owns
and operates a data center at which it mines Bitcoin and provides
mission-critical products that support a diverse range of
industries, including defense/aerospace, industrial, automotive,
telecommunications, medical/biopharma, and textiles. In addition,
BitNile extends credit to select entrepreneurial businesses through
a licensed lending subsidiary. BitNile’s headquarters are located
at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV
89141; www.BitNile.com.
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 U.S. Securities and Exchange Commission,
including, but not limited to, the Company’s Forms 10-K, 10-Q and
8-K. All filings are available at www.sec.gov and on the Company’s
website at www.BitNile.com.
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BitNile Holdings Investor Contact: IR@BitNile.com or
1-888-753-2235
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