LAS VEGAS–(BUSINESS WIRE)–BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile” or “Company”) today published an unaudited update on Bitcoin production and miner installation. The number of miners and production capacity measurements in this press release represent S19j Pro and XP Antminers at the data center in Michigan and the Wolf Hollow host facility in Texas. BitNile’s Bitcoin mining output currently operates at an estimated annual operating rate of 1,249.4 Bitcoin based on current market conditions, including a mining difficulty of 36.95 trillion.
BitNile has increased the number of miners in its possession to 20,441 S19j Pro and XP Antminers, which when installed and activated will generate a combined processing power of approximately 2.21 exahashes per second (“EH/s”), the computational power used to mine Bitcoin. During the month of November 2022, BitNile received 92.2 Bitcoin as a result of the miners providing computing power to a mining pool operator, and to date BitNile has received a total of 613.8 Bitcoin.
Milton “Todd” Ault, III, the company’s executive chairman, stated: “The latest green XP miners installed in Michigan have allowed us to reach a new high of approximately 1.06 EH/s. The team is still working through the issues at Wolf Hollow- host facility in Texas, as well as developing new relationships to service the remaining machines.”
As previously disclosed, BitNile has entered into purchase agreements with Bitmain Technologies Limited for a total of 23,065 Bitcoin miners, including 4,600 eco-friendly S19 XP Antminers that have a processing power of 140 terahashes per second (“TH/s”), 17,325 S19j Pro Antminers that have a processing power of 100 TH/s and 1,140 S19 XP Hydro Antminers that have a processing power of 255 TH/s. When all miners are fully deployed and operational, BitNile expects to achieve a mining production capacity of approximately 2.66 EH/s.
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, the energy supply to the Texas host facility and other factors that may affect the results of production or operations.
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 delivers mission-critical products that support a variety of industries, including oil exploration, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, 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.
