BitNile Holdings Joins Chamber of Digital Commerce’s Executive Committee

Rhea-AI Summary

BitNile Holdings, Inc. (NYSE American: NILE) has joined the Executive Committee of the Chamber of Digital Commerce, a prominent blockchain and cryptocurrency trade association. This membership aims to accelerate digital asset adoption and promote a conducive regulatory environment. Milton Ault III, Executive Chairman, emphasized the significance of blockchain in shaping the future of finance. The Chamber expressed enthusiasm over BitNile's commitment to advancing the digital asset ecosystem. This collaboration aligns with BitNile’s focus on cryptocurrency mining and innovative financial technologies.

Positive

• Joined the Executive Committee of the Chamber of Digital Commerce, indicating industry credibility and influence.
• Focus on cryptocurrencies and blockchain aligns with current market trends, potentially enhancing growth opportunities.

Negative

• None.

The Company’s Focus on Cryptocurrency Mining Aligns Closely With the Chamber of Digital Commerce’s Priorities

LAS VEGAS--(BUSINESS WIRE)-- BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile” or the “Company”), today announced that it has joined the Chamber of Digital Commerce (the “Chamber”), a leading blockchain and cryptocurrency trade association, as a member of its Executive Committee. BitNile joins a select group of companies working to accelerate and promote the adoption of digital assets and blockchain-based technologies.

The Chamber’s Executive Committee sets the organization’s priorities and strategy. The Chamber is focused on developing a pro-growth legal and regulatory environment that fosters innovation, job creation, and investment in the digital asset ecosystem. The Chamber and its members are developing educational resources and advocacy campaigns to drive the industry forward.

Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “We believe cryptocurrencies and the blockchain are two of the most disruptive technologies shaping the future of finance and global commerce. We are pleased to join the Executive Committee of the Chamber with other like-minded industry leaders. We look forward to working closely with their team to assist in influencing and guiding the strategic direction for this emerging ecosystem.”

“While the global economy faces existential threats, blockchain technology offers tools to help people around the world reach new levels of freedom and prosperity,” said Perianne Boring, Founder and CEO of the Chamber of Digital Commerce. “Our members represent the leading organizations that are committed to building the infrastructure needed to enable a more sound and inclusive financial system. BitNile has established itself as a leader in emerging financial technologies and we are thrilled to welcome them to our Executive Committee.”

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, 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/20221019005022/en/

BitNile Holdings IR Contact

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

Source: BitNile Holdings, Inc.

FAQ

What is BitNile Holdings' involvement with the Chamber of Digital Commerce?

BitNile Holdings has joined the Executive Committee of the Chamber of Digital Commerce, focusing on promoting blockchain and digital asset adoption.

What is the stock symbol for BitNile Holdings?

The stock symbol for BitNile Holdings is NILE, traded on the NYSE American.

Who is the Executive Chairman of BitNile Holdings?

The Executive Chairman of BitNile Holdings is Milton 'Todd' Ault III.

How does BitNile Holdings plan to influence the cryptocurrency ecosystem?

BitNile Holdings intends to work with the Chamber of Digital Commerce to influence strategic direction and foster regulatory support for digital assets.

What are the potential benefits of BitNile joining the Chamber of Digital Commerce?

Joining the Chamber may enhance BitNile's credibility, provide networking opportunities, and help shape favorable regulations in the digital asset space.