BitNile Holdings’ Subsidiary, TurnOnGreen, to Help Power the Future Platform of Broadband and Cable Technology

Rhea-AI Summary

BitNile Holdings, Inc. (NYSE American: NILE) announced that its subsidiary, TurnOnGreen, Inc., secured a contract to develop a custom power solution for a global leader in Distributed Access Architecture. This solution will comply with Society of Cable Telecommunications Engineers specifications, enhancing the efficiency of cable access, fiber access, and wireless networks. It aims to reduce operational expenses and support the growing demand for broadband services. TurnOnGreen brings 50 years of experience in custom power solutions, positioning itself for growth in the broadband market.

Positive

• Secured a contract for a custom power solution, indicating business growth.
• The solution aims to reduce operational expenses for clients, enhancing its value proposition.
• TurnOnGreen's extensive experience in the telecommunication industry supports its competitive positioning.

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• None.

LAS VEGAS--(BUSINESS WIRE)-- BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (the “Company”), announced today that its green energy technology and global power electronics subsidiary, TurnOnGreen, Inc. (“TurnOnGreen”), through its wholly owned subsidiary, Digital Power Corporation (“DPC”), was recently awarded a contract from a global leader in Distributed Access Architecture to develop a custom power solution for their Generic Access Platform (“GAP”) Node.

TurnOnGreen’s GAP Node power solution will be compliant with the Society of Cable Telecommunications Engineers specifications and requirements for interchangeable module within the GAP enclosure for use in cable access, fiber access, wireless access networks and future applications. The custom power solution will simplify network operations and reduce operational expenses for multisystem operators, supporting the growing demand for broadband data services, IP video streaming services, and large file transfer technology.

“Custom design and manufacturing of power solutions is a core competency of our business. We will continue to grow to support the expansion of our green energy technology platform,” said TurnOnGreen’s Chief Executive Officer, Amos Kohn. “Our innovative technology and advanced digital power processing solutions will help provide limitless broadband access to deliver fast, high-quality, reliable internet and streaming services to millions of people worldwide.”

“TurnOnGreen and DPC have a 50-year history of successfully designing and commercializing custom power solutions for the telecommunication industry,” said Marcus Charuvastra, Chief Revenue Officer at TurnOnGreen. “Maintaining a diverse and nimble business operating unit is a key part of our growth strategy. This contract provides the company access to an enormous broadband market that is evolving quickly.”

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. The Company’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.BitNile.com.

About TurnOnGreen, Inc.

TurnOnGreen, Inc. designs and manufactures innovative, feature-rich, and top-quality power products for mission-critical applications, lifesaving and sustaining applications spanning multiple sectors in the harshest environments. The diverse markets we serve include defense and aerospace, medical and healthcare, industrial, telecommunications and e-Mobility. TurnOnGreen brings decades of experience to every project, working with our clients to develop leading-edge products to meet a wide range of needs. TurnOnGreen’s headquarters are located at Milpitas, CA; www.TurnOnGreen.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/20220429005174/en/

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

Source: BitNile Holdings, Inc.

FAQ

What recent contract did BitNile's subsidiary TurnOnGreen secure?

TurnOnGreen secured a contract to develop a custom power solution for a global leader in Distributed Access Architecture.

What is the purpose of the GAP Node power solution?

The GAP Node power solution is designed to simplify network operations and reduce operational expenses while supporting broadband data services.

How does TurnOnGreen's solution comply with industry standards?

The solution will comply with Society of Cable Telecommunications Engineers specifications for interchangeable modules.

How long has TurnOnGreen been in the power solutions business?

TurnOnGreen has a 50-year history of designing and commercializing custom power solutions.

What are the expected benefits of the new power solution?

It is expected to enhance broadband access and support high-quality internet and streaming services.