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. Miner count and production capacity measurements in this press release represent S19j Pro and XP Antminers at the company’s Michigan data center and hosted Texas facility. BitNile’s Bitcoin mining production currently operates at an estimated annual operating rate of 948 Bitcoin based on current market conditions, including a mining difficulty of 36.84 trillion.
BitNile has increased the number of miners in its possession to 19,126 S19j Pro and XP Antminers, which when installed and activated will generate a combined processing power of approximately 2,036 exahashes per second (“EH/s”), the computational power given to the mining pool to mine Bitcoin. During the month of October 2022, BitNile received 81.2 Bitcoin as a result of the miners providing computing power to a mining pool operator, and to date BitNile has received a total of 518.2 Bitcoin.
Milton “Todd” Ault, III, the company’s executive chairman, stated, “The team continues to install the XP miners in Michigan as they arrive on site. We expected our miners at the Texas facility to be energized in October, but the facility has experienced delays. We have just completed a site visit to the Texas facility and confirmed that virtually all of our miners are installed and ready to operate when activated, which we hope is imminent.”
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 2.37 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 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.
