Ault Alpha Has Purchased 50 Million Shares of Common Stock of BitNile Holdings, Inc.

Rhea-AI Summary

BitNile Holdings, Inc. (NYSE American: NILE) disclosed that its related party, Ault Alpha, LP, has acquired 50 million shares of its common stock since September 2021, representing about 13% of the company. As of September 30, 2022, BitNile's total assets stood at approximately $610 million. Ault Alpha plans to continue purchasing shares under a 10b5-1/10b-18 plan, dependent on market conditions. The company focuses on growth through acquiring undervalued businesses and operates a variety of sectors, including Bitcoin mining and providing essential products across multiple industries.

Positive

• Ault Alpha has purchased 50 million shares of BitNile, indicating confidence in the company.
• BitNile reported total assets of approximately $610 million as of September 30, 2022.
• The company has successfully completed the acquisition of Circle 8, expanding its operational capabilities.

Negative

• None.

LAS VEGAS--(BUSINESS WIRE)-- BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile” or the “Company”), announced today that its related party, Ault Alpha, LP (“Ault Alpha”), has purchased an aggregate of 50 million shares of common stock of BitNile since it first started buying in September 2021. Ault Alpha purchases common stock of BitNile pursuant to a plan previously adopted pursuant to Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The 50 million shares of common stock represent approximately 13% of the Company as of today.

“BitNile reported approximately $610 million in total assets as of September 30, 2022 and recently completed the acquisition of Circle 8, the crane company. Ault Alpha intends to continue its purchase of common stock of BitNile if the current market conditions continue. Ault Alpha anticipates adopting a new 10b5-1/10b-18 plan in the near future,” said Milton “Todd” Ault, III, the controlling person of Ault Alpha and the Executive Chairman of BitNile.

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, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221230005092/en/

IR@BitNile.com or 1-888-753-2235

Source: BitNile Holdings, Inc.

FAQ

What is the latest news about BitNile Holdings (NILE) regarding stock purchases?

Ault Alpha, LP has purchased 50 million shares of BitNile Holdings (NILE), amounting to about 13% of the company.

How much are BitNile's total assets as of September 2022?

As of September 30, 2022, BitNile Holdings reported total assets of approximately $610 million.

What is the significance of the 10b5-1/10b-18 plan for BitNile (NILE)?

The 10b5-1/10b-18 plan allows Ault Alpha to continue purchasing shares of BitNile based on market conditions.

What sectors does BitNile Holdings (NILE) operate in?

BitNile operates in various sectors, including Bitcoin mining, oil exploration, crane services, and more.