BitNile Holdings Announces Closing of Series A Investment in Decentralized Finance Platform

Rhea-AI Summary

BitNile Holdings, Inc. (NYSE American: NILE) announced that its subsidiary, BitNile, Inc., has completed a $15 million Series A investment in Earnity Inc., a decentralized finance marketplace based in San Mateo, California. This investment was initially disclosed on December 6, 2021. BitNile Holdings aims to pursue growth by acquiring undervalued businesses and technologies. Its operations include Bitcoin mining and providing support across diverse industries, including automotive and telecommunications. For additional details, visit the company’s website or SEC filings.

Positive

• Completed a $15 million Series A investment in Earnity Inc.
• Focuses on acquiring undervalued businesses for growth.
• Engages in Bitcoin mining and serves multiple industries.

Negative

• None.

LAS VEGAS--(BUSINESS WIRE)-- BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (the “Company”), announced today that its subsidiary, BitNile, Inc., closed its investment transaction as the lead investor in a $15 million Series A offering from Earnity Inc., a San Mateo, Calif. based decentralized finance marketplace as initially announced on December 6, 2021.

For more information on BitNile Holdings and its subsidiaries, the Company recommends that stockholders, investors, and any other interested parties read the Company’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, 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. BitNile Holdings’ 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/20211213005987/en/

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

Source: BitNile Holdings, Inc.

FAQ

What investment did BitNile Holdings announce recently?

BitNile Holdings announced a $15 million Series A investment in Earnity Inc.

When was the investment in Earnity Inc. initially disclosed?

The investment was initially disclosed on December 6, 2021.

What is the focus of BitNile Holdings' business strategy?

BitNile Holdings focuses on acquiring undervalued businesses and disruptive technologies.

How does BitNile Holdings generate revenue?

BitNile Holdings generates revenue through Bitcoin mining and providing support to diverse industries.