BitNile Holdings issues the June Bitcoin production and mining report
LAS VEGAS, July 6, 2022– (BUSINESS WIRE) – BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile“or”Company“) today released an unaudited update on Bitcoin production and miners’ deliveries. The number of miners and production capacity measurements reported in this press release represents S19j Pro Antminers at the Michigan Data Center. BitNile’s Bitcoin mining production currently operates at an estimated annual running 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 possession, and when installed, it will generate a combined processing power of approximately 965.5 petahashes per second, the computing power used to extract Bitcoin. During the month of June 2022, BitNile self-extracted 46.4 Bitcoin. To date, BitNile has mined a total of 256.5 Bitcoin. As of June 30, 2022, BitNile had 140.8 Bitcoin and currently has no plans to sell.
Milton “Todd” Ault, III, the company’s chief executive officer, said: “As we increase the number of miners, we are both upgrading the 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 and expansion plans in our quarterly earnings update in August. “
As previously revealed, 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 have a processing power of 140 terahashes per second (“TH / s“) and 16,000 S19j Pro Antminers that have a processing power of 100 TH / s.
BitNile started receiving 300 S19j Pro Antminers per month in November 2021 according to the purchase agreements it has entered into with Bitmain. As of March 2022, this plan increased to 2,300 miners per month. When all 20,600 miners are fully deployed and operational, BitNile is expected to achieve a mining production capacity of approximately 2.24 eksahash per second.
The company notes that all estimates and other estimates are subject to the actual delivery and installation of Bitcoin miners, the volatility of the Bitcoin market price, the fluctuations in the degree of difficulty of mining 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 registrations 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 seeking 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 where it extracts Bitcoin and delivers business-critical products that support a variety of industries, including defense / aerospace, industry, automotive, telecommunications, medical / biopharma, 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.
Future-oriented statements
This press release contains “forward-looking statements” under 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 “believe”, “plan”, “predict”, “projects”, “estimate”, “expect,” have to purpose “,” strategy “,” future “,” opportunity “,” can “,” will “,” should “,” able “,” potential “or similar expressions. Statements that are not historical facts are forward-looking statements. is based on current beliefs and assumptions that are subject to risk and uncertainty.Future-oriented statements apply only from the date they are made, and the company assumes no obligation to update any of them publicly in light of new information or future events. differ significantly from those contained in any forward-looking statement as a result of various factors.More information, including potential risk factors, that may affect the company’s operations and financial results are included in the seal. the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, Company Forms 10-K, 10-Q and 8-K. All registrations are available at www.sec.gov and on the company’s website at www.BitNile.com.
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Contacts
BitNile Holding’s investor contact:
[email protected] or 1-888-753-2235
