BitNile Holdings’ Subsidiary BitNile Purchases 1,325 Additional S19j Pro Antminers From Bitmain

Rhea-AI Summary

BitNile Holdings, Inc. (NYSE American: NILE) announced that its subsidiary, BitNile, Inc., has contracted with Bitmain Technologies Limited to purchase 1,325 additional S19j Pro Antminers, boosting its total to 21,925 Bitcoin miners. This includes 4,600 S19 XP Antminers and 16,000 S19j Pro Antminers. Founder Milton Ault expressed optimism about Bitcoin's long-term outlook, positioning the company to expand its cryptocurrency mining operations significantly.

Positive

• Acquisition of 1,325 additional Bitcoin miners strengthens mining operations.
• Total of 21,925 miners purchased enhances production capacity.
• Founder expresses positive outlook for Bitcoin, indicating confidence in the market.

Negative

• None.

LAS VEGAS--(BUSINESS WIRE)-- BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile” or the “Company”) announced today that its subsidiary, BitNile, Inc. (“BNI”), has entered into a contract with Bitmain Technologies Limited (“Bitmain”), to purchase an additional 1,325 S19j Pro Antminers that feature a processing power of 100 TH/s. With this new contract, BNI has agreed to purchase a total of 21,925 Bitcoin miners.

The purchase of the 1,325 S19j Pro Antminers announced today is in addition to the previously disclosed purchase agreements with Bitmain for 20,600 Bitcoin miners, including 4,600 environmentally friendly S19 XP Antminers that feature a processing power of 140 terahashes per second (“TH/s”) and 16,000 S19j Pro Antminers that feature a processing power of 100 TH/s.

The Company’s Founder and Executive Chairman, Milton “Todd” Ault, III stated, “I believe the long-term outlook for Bitcoin is positive and am pleased to be in a position to invest in additional Bitcoin mining equipment to expand our cryptocurrency mining operations.”

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/20220907005604/en/

BitNile Holdings Investor Contact:

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

Source: BitNile Holdings, Inc.

FAQ

What recent contract did BitNile Holdings announce?

BitNile Holdings announced a contract to purchase an additional 1,325 S19j Pro Antminers from Bitmain Technologies.

What is the total number of Bitcoin miners BitNile Holdings has now?

With the new agreement, BitNile Holdings has a total of 21,925 Bitcoin miners.

What is the processing power of the new miners purchased by BitNile?

The newly purchased S19j Pro Antminers feature a processing power of 100 TH/s.

Who is the founder of BitNile Holdings?

The founder of BitNile Holdings is Milton 'Todd' Ault, III.

What are S19 XP Antminers?

S19 XP Antminers are environmentally friendly Bitcoin miners with a processing power of 140 TH/s.