BitNile Holdings Achieves Bitcoin Mining Production Milestone of 500 Bitcoin Mined to Date at Its Michigan Data Center

Rhea-AI Summary

BitNile Holdings, Inc. (AMEX: NILE) has achieved a significant milestone by mining 500 Bitcoin at its Michigan data center. Executive Chairman Milton Ault expressed pride in the company's progress and plans to expand its mining operations further. This achievement reflects BitNile's commitment to developing its capabilities in cryptocurrency mining. For more information, stakeholders can refer to BitNile's public filings and press releases on their website.

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• Achieved milestone of 500 Bitcoin mined at Michigan data center.

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LAS VEGAS--(BUSINESS WIRE)-- BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile” or the “Company”), announced today that it has achieved a Bitcoin mining production milestone of 500 Bitcoin mined to date at its Michigan data center.

Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “I am pleased to see the progress the team has made in building up our mining capability and achieving a milestone in Bitcoin mining production. The plan to grow our Bitcoin mining operations is clear, and it is rewarding to see the team achieve key milestones along the way.”

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 Investors section at www.BitNile.com or available at http://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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221025005528/en/

BitNile Holdings Investor Contact:

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

Source: BitNile Holdings, Inc.

FAQ

What milestone did BitNile Holdings achieve in Bitcoin mining?

BitNile Holdings achieved a milestone of 500 Bitcoin mined at its Michigan data center.

What is the stock symbol for BitNile Holdings?

The stock symbol for BitNile Holdings is NILE.

Where is BitNile Holdings' data center located?

BitNile Holdings' data center is located in Michigan.

Who is the Executive Chairman of BitNile Holdings?

The Executive Chairman of BitNile Holdings is Milton Ault, III.

How can investors access more information about BitNile Holdings?

Investors can access more information about BitNile Holdings through their public filings and press releases available on their website.