BitNile Holdings Issues February 2022 Bitcoin Production and Mining Operation Report

LAS VEGAS–(BUSINESS WIRE)–BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding firm (“BitNile” or the “Company”) right now printed an unaudited replace on Bitcoin manufacturing and miner set up. The variety of miners and manufacturing capability metrics inside this press launch signify the S19j Pro Antminers on the Michigan information middle. BitNile’s Bitcoin mining manufacturing is at present working at an estimated annualized run charge of 360.99 Bitcoin based mostly on present market circumstances, together with a mining issue of roughly 28.0 trillion.

BitNile has 2,160 lively S19j Pro Antminers, with 297 extra miners anticipated to reach within the second week of March 2022, which when put in, are anticipated to generate a mixed processing energy of roughly 250 petahashes per second, the computational energy that’s getting used to mine Bitcoin. During the month of February 2022, BitNile self-mined 25.9 Bitcoin. To date, BitNile has mined a complete of 100.9 Bitcoin.

Milton “Todd” Ault, III, the Company’s Executive Chairman, said, “We count on to considerably ramp up our manufacturing capability starting in March 2022, as we count on to obtain and start putting in 2,300 miners per thirty days from our beforehand introduced buy agreements.”

As beforehand disclosed, BitNile has entered into buy agreements with Bitmain Technologies Limited (“Bitmain”) for a complete of 20,600 Bitcoin miners, together with 4,600 environmentally pleasant S19 XP Antminers that characteristic a processing energy of 140 terahashes per second (“TH/s”) and 16,000 S19j Pro Antminers that characteristic a processing energy of 100 TH/s.

BitNile started receiving 300 S19j Pro Antminers per thirty days in November 2021 in accordance with the acquisition settlement with Bitmain. Beginning in March 2022, this schedule will enhance to an anticipated 2,300 miners per thirty days. Once all 20,600 miners are totally deployed and operational, BitNile is predicted to realize mining manufacturing capability of roughly 2.24 exahashes per second.

The Company notes that each one estimates and different projections are topic to the precise supply and set up of Bitcoin miners, the volatility in Bitcoin market value, the fluctuation within the mining issue stage, and different elements which will affect the outcomes of manufacturing or operations.

For extra data on BitNile and its subsidiaries, BitNile recommends that stockholders, buyers, and another events learn BitNile’s public filings and press releases obtainable beneath the Investor Relations part at www.BitNile.com or obtainable at www.sec.gov.

About BitNile Holdings, Inc.

BitNile Holdings, Inc. is a diversified holding firm pursuing development by buying undervalued companies and disruptive applied sciences with a worldwide affect. Through its wholly and majority-owned subsidiaries and strategic investments, BitNile owns and operates a knowledge middle at which it mines Bitcoin and supplies mission-critical merchandise that help a various vary of industries, together with protection/aerospace, industrial, automotive, telecommunications, medical/biopharma, and textiles. In addition, BitNile extends credit score to pick out entrepreneurial companies by way of a licensed lending subsidiary. BitNile’s headquarters are positioned at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.BitNile.com.

Forward-Looking Statements

This press launch incorporates “forward-looking statements” throughout the which means 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 typically embody statements which might be predictive in nature and depend on or seek advice from future occasions or circumstances, and embody phrases equivalent to “believes,” “plans,” “anticipates,” “tasks,” “estimates,” “expects,” “intends,” “technique,” “future,” “alternative,” “could,” “will,” “ought to,” “might,” “potential,” or related expressions. Statements that aren’t historic info are forward-looking statements. Forward-looking statements are based mostly on present beliefs and assumptions which might be topic to dangers and uncertainties. Forward-looking statements converse solely as of the date they’re made, and the Company undertakes no obligation to replace any of them publicly in gentle of recent data or future occasions. Actual outcomes might differ materially from these contained in any forward-looking assertion because of varied elements. More data, together with potential danger elements, that might have an effect on the Company’s enterprise and monetary outcomes are included within the Company’s filings with the U.S. Securities and Exchange Commission, together with, however not restricted to, the Company’s Forms 10-Okay, 10-Q and 8-Okay. All filings can be found at www.sec.gov and on the Company’s web site at www.BitNile.com.