LAS VEGAS–(BUSINESS WIRE)–BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile” or “Company”) today published an unaudited update on Bitcoin (“BTC”) production and installation of miner. The number of miners and production capacity measurements in this press release represent S19j Pro and S19 XP Antminers at the Michigan data center and Texas facility hosted by Compute North, LLC.
BitNile’s BTC mining output is currently operating at an estimated annual operating rate of 787 Bitcoin based on market conditions as of September 9, 2022, including a mining difficulty of 32.05 trillion.
Mining and operations highlights as of September 9, 2022 were as follows:
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60.45 BTC mined in August 2022;
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700 of the new S19 XP Antminers have been brought online;
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Miners in possession increased to 12,669 including 600 in the hands of our carrier, which when installed will generate a combined processing power of approximately 1,091 exahashes per second (“EH/s”), the computational power used to mine Bitcoin;
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393.6 total BTC mined to date; and
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3,920 miners have been installed in racks in the new host facility in Texas, and BitNile expects to have 6,500 miners there online by October 1, 2022.
As previously disclosed, BitNile has entered into purchase agreements with Bitmain Technologies Limited (“Bitmain”) for a total of 21,925 Bitcoin miners, including 4,600 eco-friendly S19 XP Antminers that have a processing power of 140 terahashes per second (“TH/s”) and 17,325 S19j Pro Antminers that have a processing power of 100 TH/s. When all miners are fully deployed and operational, BitNile expects to achieve a mining production capacity of approximately 2.3725 EH/s.
Milton “Todd” Ault, III, the company’s executive chairman, stated: “We started our BTC mining expansion in November 2021 when we announced purchase agreements with Bitmain at the World Digital Mining Summit 2021 in Dubai. I am pleased to see the progress the team has made done in building up our mining capacity. We are pleased to have started receiving the XP miners which are environmentally friendly due to their reduced power consumption.”
The Company notes that all estimates and other projections are subject to the actual delivery and installation of Bitcoin miners, the volatility of the Bitcoin market price, the fluctuations in the difficulty of mining and other factors that may affect the results of production or operations. Miners in possession do not include the 2004 S19j Pro Antminers currently being held by the US Customs and Border Patrol pending the completion of a review and audit, which BitNile is rapidly working to complete. BitNile currently has approximately 92.5 BTC. The company expects to deliver the next monthly mining update on or around November 1, 2022.
For more information about BitNile and its subsidiaries, BitNile recommends that shareholders, investors and other interested parties read BitNile’s public filings and press releases available under the Investor Relations section of www.BitNile.com or available at www.sec.gov.
About BitNile Holdings, Inc.
BitNile Holdings, Inc. is a diversified holding company that seeks growth by acquiring undervalued businesses and disruptive technologies with global impact. Through its wholly-owned and majority-owned subsidiaries and strategic investments, BitNile owns and operates a data center where it mines Bitcoin and supplies mission-critical products that support a variety of industries, including oil exploration, defense/aerospace, industrial, automotive, medical/biopharma, karaoke audio equipment, hospitality and textiles. In addition, BitNile provides credit to selected entrepreneurial companies 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 and depend on or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “has to intent”, “strategy”, “future”, “opportunity”, “can”, “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 publicly update any of them in light of new information or future events. Actual results may 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 is included in the Company’s filings with the US 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.
