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Ault Global Holdings’ Subsidiary BitNile Issues Bimonthly Bitcoin Production and Mining Operation Report
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Ault Global Holdings (NYSE American: DPW) has reported an unaudited update on Bitcoin production and mining operations via its subsidiary, BitNile. Currently, BitNile's mining operations are producing at an estimated annualized rate of 287.6 Bitcoin, valued at approximately $16.6 million based on a Bitcoin price of $57,800. BitNile has a total of 2,900 active miners, with plans to receive additional miners to boost production to approximately 2.24 exahashes per second. The company aims to split into two public entities, focusing on Bitcoin mining and traditional business operations.
Positive
Estimated annualized Bitcoin production of 287.6 BTC, valued at $16.6 million.
Total of 2,900 active miners operational.
Plans to enhance mining capacity with additional 16,600 miners expected by September 2022.
Negative
Completion of miner purchase is contingent on raising additional capital, with no assurances on the timeline.
No additions to installed miners reported in the second half of November 2021.
LAS VEGAS--(BUSINESS WIRE)--
Ault Global Holdings, Inc. (NYSE American: DPW), a diversified holding company (the “Company”), today published an unaudited update on Bitcoin production and miner installation by its subsidiary, BitNile, Inc. (“BitNile”). BitNile’s Bitcoin mining production is currently operating at an estimated annualized run rate of 287.6 Bitcoin or approximately $16.6 million based on a market value of Bitcoin of $57,800, and current market conditions, including a mining difficulty level of 22.3 trillion.
A summary of BitNile’s Bitcoin production and mining operations metrics as of November 30, 2021 is as follows:
Michigan Data Center
Indiana Location
Total
Bitcoin production highlights
Mining fleet:
S19j Pro Antminers
1,292
–
1,292
S9 Antminers
8
1,600
1,608
Total active miners
1,300
1,600
2,900
Self-mined Bitcoin (Q4-2021 to date)
24.8
3.5
28.3
Production hash rate – petahash per second (“PH/s”)
129.87
10.23
140.10
During the second half of November 2021, BitNile maintained the same number of installed Bitcoin miners with no additions installed for the period. BitNile’s active miners for the Michigan data center include 1,292 S19j Pro and eight S9 Antminers, generating approximately 129.12 PH/s, an increase from 120.6 PH/s reported in mid-November 2021. For the Indiana location, the active miners consist of 1,600 S9 Antminers, generating approximately 10.23 PH/s, an increase from 7.68 PH/s reported in mid-November 2021. BitNile’s bimonthly updates regarding the number of Bitcoin miners installed and the amount of bitcoin mined are available at www.BitNile.com.
As previously announced, starting in November 2021, BitNile began receiving 300 S19j Pro Antminers per month in accordance with the purchase agreement with Bitmain Technologies Limited (“Bitmain”) for the expected installation of an additional 2,700 S19j Pro Antminers from December 2021 through August 2022. Additionally, in November 2021, BitNile entered into contracts with Bitmain to purchase an aggregate of 16,600 Bitcoin miners. The purchase includes both the environmentally friendly S19 XP Antminers that feature a processing power of 140 terahashes per second (“TH/s”) with an energy consumption of 3.01 kilowatt-hours (“kWh”) and the S19j Pro Antminers that feature a processing power of 100 TH/s with an energy consumption of 2.95 kWh. Based on current delivery schedules, BitNile expects that the 16,600 newly purchased miners will be shipped by Bitmain between March 2022 and September 2022. As a result, BitNile’s mining operations are expected to consist of 20,600 Bitcoin miners, producing approximately 2.24 exahashes per second once all miners are fully deployed and operational. The completion of the purchase of the 16,600 Bitcoin miners is subject to the Company raising the additional capital required, and there can be no assurances that the capital will be raised on the timeline required under the purchase agreements.
Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “We are pleased to report the number of installed Antminers purchased from Bitmain and look forward to the next tranche of 300 S19j Pro Antminers to be delivered later this month. We are also pleased with the steady progression in bitcoin mining production and revenues to date. We expect increasing contributions from BitNile to our topline revenues and bottom-line results.”
On November 22, 2021, the Company announced its plan to split into two public companies by pursuing a spin-off of Ault Alliance to its stockholders. Ault Alliance will continue its focus on the Company’s legacy businesses and more recently initiated operations, including lending and investing in the real estate and distressed asset spaces, among others, defense, and power solutions, including EV charging products. Following the spin-off of Ault Alliance, the Company, through its BitNile subsidiary, will be a pure-play provider of Bitcoin mining and data center operations, pursuing DeFi-related initiatives.
For more information on Ault Global Holdings and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company’s public filings with the SEC and press releases available under the Investor Relations section at www.AultGlobal.com or available at www.sec.gov.
About Ault Global Holdings, Inc.
Ault Global 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, the Company owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Global Holdings’ headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.AultGlobal.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.AultGlobal.com.
