BitNile Holdings Issues August Monthly Bitcoin Mining Report Highlighting 60.45 BTC Mined for the Month with an Annualized Run-Rate of 787 BTC
14 September 2022 - 8:30PM
Business Wire
Miners in operation include 700 of the environmentally
friendly S19 XP antminers
BitNile Holdings, Inc. (NYSE American: NILE), a diversified
holding company (“BitNile” or the “Company”) today
published an unaudited update on Bitcoin (“BTC”) production
and miner installation. The number of miners and production
capacity metrics within this press release represent the S19j Pro
and S19 XP Antminers 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 run rate of 787 Bitcoin based on market
conditions as of September 9, 2022, including a mining difficulty
of 32.05 trillion.
Mining and Operation Highlights as of September 9, 2022 were as
follows:
- 60.45 BTC mined in August 2022;
- 700 of the new S19 XP Antminers have been brought online;
- Miners in possession increased to 12,669 inclusive of 600 in
the hands of our carrier, which once installed, will generate a
combined processing power of approximately 1.091 exahashes per
second (“EH/s”), the computational power that is being used
to mine Bitcoin;
- 393.6 total BTC mined to date; and
- 3,920 miners have been installed in racks in the new hosted
facility in Texas, and BitNile anticipates having 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 environmentally
friendly S19 XP Antminers that feature a processing power of 140
terahashes per second (“TH/s”) and 17,325 S19j Pro Antminers
that feature a processing power of 100 TH/s. Once all of the 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 kicked off our expansion of BTC mining in November 2021
when we announced purchase agreements with Bitmain at the World
Digital Mining Summit 2021 held in Dubai. I am pleased to see the
progress the team has made in building up our mining capability. We
are excited that we have started to receive the XP miners that are
environmentally friendly because of their reduced power usage.”
The Company notes that all estimates and other projections are
subject to the actual delivery and installation of Bitcoin miners,
the volatility in Bitcoin market price, the fluctuation in the
mining difficulty level, and other factors that may impact the
results of production or operations. Miners in possession does not
include 2,004 S19j Pro Antminers that are currently held by U.S.
Customs and Border Patrol pending completion of a review and audit,
which BitNile is working expeditiously to complete. BitNile
currently holds approximately 92.5 BTC. The Company anticipates
delivering the next monthly mining update on or around November 1,
2022.
For more information on BitNile and its subsidiaries, BitNile
recommends that stockholders, investors, and any other interested
parties read BitNile’s public filings 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 pursuing
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 at which it mines Bitcoin and provides
mission-critical products that support a diverse range of
industries, including oil exploration, defense/aerospace,
industrial, automotive, medical/biopharma, karaoke audio equipment,
hotel operations and textiles. In addition, BitNile extends credit
to select entrepreneurial businesses 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 in nature and depend upon or refer
to future events or conditions, and include words such as
“believes,” “plans,” “anticipates,” “projects,” “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 speak only as of the date they are made,
and the Company undertakes no obligation to update any of them
publicly in light of new information or future events. Actual
results could 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 are included in the
Company’s filings with the U.S. 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.
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BitNile Holdings Investor Contact: IR@BitNile.com or
1-888-753-2235
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