Miners in operation include 700 of the eco-friendly S19 XP miners
LAS VEGAS, September 14, 2022– (COMMERCIAL LINE) –BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile“or the”Agency“) today released an uncertified update on Bitcoin (“BTC“) mining and installation of miners. The number of miners and production capacity metrics within this press release represent the Antminer S19j Pro and S19 XP at the Michigan data center and the Texas facility hosted by Compute North, LLC.
BitNile’s BTC mining production is currently operating at an estimated annualized execution rate of 787 Bitcoin based on market conditions as of September 9, 2022, including a mining difficulty of 32.05 trillion.
The highlights of mining and operations as of 9 September 2022 were as follows:
60.45 BTC mined in August 2022;
700 of the new S19 XP Antminers have been brought online;
The miners in possession have risen to 12,669 of which 600 in the hands of our carrier, which once installed, will generate a combined processing power of about 1,091 exahash per second (“EH / s“), the computing power used to mine Bitcoin;
393.6 total BTC mined to date; And
3,920 miners have been installed in racks at the new Texas-hosted facility, and BitNile expects to have 6,500 miners online by October 1, 2022.
As previously disclosed, BitNile has entered into purchasing agreements with Bitmain Technologies Limited (“Bitmain“) for a total of 21,925 Bitcoin miners, including 4,600 eco-friendly S19 XP Antminers that have 140 terahash per second processing power (“TH / s“) and 17,325 S19j Pro Antminer with a processing power of 100 TH / s. Once all miners are fully deployed and operational, BitNile expects to reach a mining production capacity of approximately 2.3725 EH / s.
Milton “Todd” Ault, III, Executive Chairman of the Company, said, “We kicked off our BTC mining expansion in November 2021 when we announced purchase deals with Bitmain at the 2021 World Digital Mining Summit held in Dubai. They are pleased to see the progress the team has made in developing our mining capability. We are thrilled to have started receiving environmentally friendly XP miners due to their low 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, fluctuating level of mining difficulty, and other factors that may affect the results. of production or operations. Miners in possession do not include 2004 S19j Pro Antminer currently held by the US Customs and Border Patrol awaiting completion of a review and audit, which BitNile is working quickly to complete. BitNile currently holds around 92.5 BTC. The Company plans to deliver the next monthly mining update around November 1, 2022.
For more information on BitNile and its subsidiaries, BitNile advises shareholders, investors and any other interested party to read BitNile’s public documents and press releases available in 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 pursuing growth by acquiring undervalued assets and disruptive technologies with a global impact. Through its wholly and majority subsidiaries and strategic investments, BitNile owns and operates a data center where it mines Bitcoin and provides mission-critical products that support a wide range of industries, including oil exploration, defense / aerospace, industrial, automotive , medical / biopharmaceutical equipment, audio equipment for karaoke, hotel and textile operations. Additionally, BitNile extends credit to certain business activities through an authorized lending branch. BitNile’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.BitNile.com.
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 of a predictive nature and depend on or relate to future events or conditions and include words such as “believes”, “plans”, “anticipates”, “plans”, “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 are effective only as of the date they are made and the Company undertakes no obligation to publicly update them in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statements due to various factors. Additional information, including potential risk factors, that could affect the Company’s economic and financial results is included in the Company’s filings with the US Securities and Exchange Commission, including but not limited to Forms 10-K, 10-Q and 8 of the Company. -K. All documents are available at www.sec.gov and on the Company’s website at www.BitNile.com.
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BitNile Holdings Investor Contact:
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