Ault Global Holdings’ Subsidiary BitNile Purchases 16,000 Bitcoin Miners From BITMAIN, Including S19 XP and S19j Pro Antminers
November 18 2021 - 12:38PM
Business Wire
BitNile’s Hash Rate Expected to Increase to Approximately
2.16 EH/s Once All Miners Are Fully Deployed
Ault Global Holdings, Inc. (NYSE American: DPW), a diversified
holding company (the “Company”), announced today that its
subsidiary, BitNile, Inc. (“BitNile”), has entered into
contracts with Bitmain Technologies Limited (“BITMAIN”), to
purchase an additional 16,000 Bitcoin miners. These purchase
agreements represent the achievement of BitNile’s stated goal of
obtaining no less than 20,000 Bitcoin miners. The purchase includes
both the environmentally friendly S19 XP Antminers that feature a
processing power of 140 terahashes per second (TH/s) with an energy
consumption of 3.01 kilowatt-hours (kWh) and the S19j Pro Antminers
that feature a processing power of 100 TH/s with an energy
consumption of 2.95 kWh.
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Based on current delivery schedules, BitNile expects that the
16,000 newly purchased miners will ship from BITMAIN between March
2022 and September 2022. As a result, BitNile’s mining operations
are expected to consist of 20,000 Bitcoin miners, producing
approximately 2.16 exahashes per second (EH/s), once all miners are
fully deployed and operational. The Company estimates a range of
gross annualized revenues from Bitcoin mining of between $295
million and $320 million with margins, net of power costs, of
approximately 90%, based on a market value of Bitcoin of between
$60,000 and $65,000 and current market conditions, including a
mining difficulty level of 21 trillion. The completion of the
purchase of the 16,000 Bitcoin miners is subject to the Company
raising the additional capital required, and there can be no
assurances that the capital will be raised on the timeline required
under the purchase agreements.
Milton “Todd” Ault, III, the Company’s Executive Chairman,
stated, “Ault Global is pleased to announce the expansion of our
strong partnership with BITMAIN, the global leader in
cryptocurrency mining and technology. These new purchase orders
continue to demonstrate our commitment to our strategic initiatives
of becoming one of the top 10 publicly traded Bitcoin mining
companies and building one of the most efficient Bitcoin mining
operations in the industry. We reconfirm our belief that Bitcoin
mining is a fundamental pillar of the digital currency ecosystem,
and we intend to be a key contributor to help build a borderless,
decentralized and environmentally conscious economic future.”
For more information on Ault Global Holdings and its
subsidiaries, the Company recommends that stockholders, investors
and any other interested parties read the Company’s public filings
with the SEC and press releases available under the Investor
Relations section at www.AultGlobal.com or available at
www.sec.gov.
About Ault Global Holdings, Inc.
Ault Global 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, the Company
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,
the Company extends credit to select entrepreneurial businesses
through a licensed lending subsidiary. Ault Global Holdings’
headquarters are located at 11411 Southern Highlands Parkway, Suite
240, Las Vegas, NV 89141; www.AultGlobal.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.AultGlobal.com.
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