BitNile acquires Michigan data center

BitNile acquires Michigan data center

BitNile has acquired the remaining stake of the corporate that owns its data center in Michigan.

BitNile Holdings, Inc. this week introduced that its wholly-owned subsidiary BitNile, Inc. now owns one hundred pc of Alliance Cloud Services, LLC (ACS).

The firm closed a membership curiosity buy settlement with the earlier 30 % homeowners of ACS. Terms of the deal weren’t disclosed.

Milton “Todd” Ault, III, BitNile’s Executive Chairman, stated: “Full possession of the power improves flexibility and the power to execute on our future strategic plans for Bitcoin mining. The completion of this buy reaffirms our dedication to changing into one of many largest publicly traded Bitcoin miners within the nation.”

BitNile’s subsidiary, Ault Alliance, Inc., fashioned a brand new subsidiary, Alliance Cloud Services, LLC, in 2020 to ship providers to the hyperscale and cloud data center markets.

ACS owns and operates the 29MW 617,000 sq. foot facility – acquired in December 2020 for $3.9 million – positioned on a 34.5-acre web site in southern Michigan that hosts BitNile’s Bitcoin mining operations, but additionally provides colocation.

The data center, positioned at 415 East Prairie Ronde Street, Dowagiac, was in-built 1972 as a producing area; It was just lately renovated to supply for a 30,000 sq. foot data center with area to develop to greater than 200,000 sq ft.

BitNile says it has invested a complete of $127 million on its Bitcoin mining operations, together with roughly $115 million within the buy of Bitcoin miners and $12.3 million for the acquisition of the data center and infrastructure enhancements. In March BitNile introduced plans to expand the facility capability at its Michigan data center to 300MW.

BitNile Holdings, beforehand often called Ault Global Holdings, DPW Holdings, Inc. earlier than that, and Digital Power Corporation earlier than that, used to design and manufacture energy system options.

The firm started creating cryptocurrency mining {hardware} round 2017, and subsequently launched a crypto mining subsidiary Super Crypto Mining (renamed to Digital Farms Inc. in 2019) earlier than pivoting to deal with crypto and renaming to BitNile.

The firm stated late final yr that its Ault Alliance subsidiary and different legacy models – together with actual property, protection, and energy options together with electrical car charging merchandise – might be spun off right into a separate public firm sooner or later.

It appears DigitalFarms was seeking to purchase the Michigan property from at least 2019, however seemingly didn’t full the acquisition.

Soluna raises $35 million for cryptomines

In different crypto information this week, Soluna Holdings, Inc. and Soluna Computing, Inc. secured $35 million in mission financing from personal fairness agency Spring Lane Capital to develop cryptomine data facilities.

“Soluna is the one true inexperienced bitcoin firm we’ve but seen,” stated Rob Day, Spring Lane Capital Partner and co-founder. “Going after wasted renewable power – ‘spilled energy’ – is a compelling resolution – and fixes each bitcoin’s local weather drawback and wind energy’s grid drawback.”

Michael Toporek, CEO of Soluna Holdings, Inc. added: “Consistent with our beforehand articulated technique, we proceed to pursue alternatives that we imagine allow us to optimize our price of capital. The Spring Lane Capital strategy helps us develop a mature repeatable mannequin that may be scaled.”

Soluna is creating a 50MW cryptomine data center in Lubbock, Texas, that is because of open quickly. The facility – often called Project Dorothy – is related to a wind farm with extra power and attributable to go dwell this yr. Another 50MW might be added in later phases.

Soluna additionally has Project Kati, two 60MW data center initiatives every tied into two 150MW wind farms in Seymour, Texas; Project Marie, a 14.2MW working facility with a 10MW enlargement possibility positioned in Calbert City, Kentucky; Project Rosa, a 75MW data center mission tied right into a 160MW photo voltaic plant positioned in Odessa, Texas; and Project Sophie, a 25MW greenfield facility positioned in Murray, Kentucky.

John Belizaire, CEO of Soluna Computing, Inc., stated: “We are honored to have a pioneering sustainability mission finance agency like Spring Lane Capital again our imaginative and prescient. Our mannequin of leveraging extra clear power to generate low-cost computing is the way forward for inexperienced bitcoin mining and inexperienced data facilities.”

Last month Soluna Holdings bought its Albany-based MTI Instruments subsidiary for $10.75 million.

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