BitNile Holdings’ Subsidiary, Alliance Cloud Services, Developing Enterprise Data Center at Michigan Facility

Rhea-AI Summary

BitNile Holdings, Inc. (AMEX: NILE) announces its subsidiary Alliance Cloud Services' plans to launch enterprise data center services at its Michigan facility. This 617,000 square foot site includes a high-density computing data center and commercial real estate. With access to 28 megawatts of power, the data center is expected to reach full capacity by November 2022. Executive Chairman Milton Ault emphasized the anticipated demand for the new services, aiming to expand revenue from this facility.

Positive

• Launch of enterprise data center services at the Michigan facility.
• The Michigan site has a large footprint of 617,000 square feet.
• Access to approximately 28 megawatts of power enhances operational capabilities.

Negative

• The enterprise data center is still nearing completion, indicating a delay in service availability.

LAS VEGAS--(BUSINESS WIRE)-- BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile” or the “Company”) today announced that its subsidiary, Alliance Cloud Services, LLC (“Alliance Cloud Services”), plans to launch enterprise data center services at its Michigan data center. Alliance Cloud Services has developed a diversified site, including commercial real estate for office, warehouse and distribution, a high-density computing data center focused on Bitcoin mining, and the announced enterprise data center with plans to offer hosting and colocation services for third parties.

Alliance Cloud Services owns and operates a 617,000 square foot facility located in Michigan. The site was purchased in January 2021 and consists of a 100,000 square foot data center and 517,000 square feet of improved space occupied by commercial real estate tenants. The site currently has access to approximately 28 megawatts of power and multiple telecommunications carriers with physically separate fiber entrances and geographically diverse routes. The high-density portion of the site began operations in September 2021 and is anticipated to reach full capacity by the end of November 2022. The enterprise data center component is nearing completion and will soon be ready to serve prospective customers interested in hosting and colocation services.

Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “We believe the capabilities of our Michigan data center are in high demand and we are focused on adding enterprise data center customers in the near future, further expanding revenue provided by this facility.”

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/20221028005120/en/

BitNile Holdings Investor Contact:

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

Source: BitNile Holdings, Inc.

FAQ

What new services is BitNile Holdings planning to launch in Michigan?

BitNile Holdings, through its subsidiary Alliance Cloud Services, plans to launch enterprise data center services in Michigan.

What is the size of the Michigan data center owned by BitNile Holdings?

The Michigan data center facility spans 617,000 square feet.

When is the Michigan enterprise data center expected to be fully operational?

The enterprise data center is anticipated to reach full capacity by the end of November 2022.

What power capacity does the Michigan data center have?

The Michigan data center has access to approximately 28 megawatts of power.