NILE - NILE STOCK NEWS

BitNile Holdings, Inc. (AMEX: NILE) held its 2022 Annual Meeting of Stockholders on November 23, 2022. All seven director nominees were re-elected, and several key proposals were approved, including the appointment of Marcum LLP as independent accounting firm and a non-binding advisory on executive compensation. However, proposals to increase Class A Common Stock and approve 2022 equity issuances for directors were not approved. The company continues to pursue growth through acquisitions and disruptive technologies while operating a Bitcoin mining data center.

BitNile Holdings (AMEX:NILE) has announced a pro rata dividend for its shareholders, consisting of 140 million shares of Imperalis Holding Corp. (to be renamed TurnOnGreen, Inc.) and warrants for an additional 140 million shares. The record date for this dividend is December 30, 2022, with a distribution date of January 5, 2023. After the distribution, BitNile will hold approximately 370,000 shares of TurnOnGreen stock, remaining its largest stockholder.

BitNile Holdings (AMEX: NILE) has announced the acquisition of 1,140 S19 XP Hydro Antminers along with 6 customized power containers from Bitmain. The new Antminers promise a maximum hashrate of 255 TH/s at 5304W. Deliveries are set to begin in July 2023, with expectations to achieve a total of 23,065 mining units operational by year-end, enhancing the company’s production capacity to approximately 2.67 exahashes per second. Despite ongoing volatility in the crypto market, BitNile remains committed to expanding its Bitcoin mining operations.

BitNile Holdings (NILE) reported strong financial results for Q3 2022, with total revenue of $49.8 million, up from a negative $30.8 million in Q3 2021. Key highlights include:

• Revenue from cryptocurrency mining reached $3.9 million.
• Revenue from The Singing Machine Company (MICS) was $17.1 million.
• Net loss reduced to $7.5 million from $42.9 million.
• Total assets stood at $610.9 million.

The company is optimistic about future growth, targeting a revenue run rate of $200 million.

BitNile Holdings has declared a monthly cash dividend of $0.2708333 per share for its 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock. The record date for this dividend is November 30, 2022, with a payment date of December 12, 2022. BitNile Holdings is a diversified holding company focused on acquiring undervalued businesses and technologies, operating a Bitcoin mining data center, and providing critical products across various industries.

BitNile Holdings (AMEX: NILE) announced the acquisition of Circle 8 Crane Services LLC for approximately $40 million. This deal includes $16 million in cash and $24 million in assumed debt, funded through its subsidiary, Ault Alliance. Circle 8, a crane rental provider, is expected to generate over $40 million in annual revenue by 2023. The acquisition's closing is anticipated by December 9, 2022, contingent on financing and customary closing conditions. This move aligns with Ault Alliance's strategy of investing in revenue-generating enterprises.

BitNile Holdings, Inc. (NILE) announced it has no direct exposure to FTX Trading Limited's collapse and believes its Bitcoin holdings are secure in custodial wallets. The company aims to continue its Bitcoin mining operations despite challenging market conditions. Executive Chairman Todd Ault stated that BitNile has not been disrupted by recent bankruptcies in the cryptocurrency space and remains committed to its operational goals. The company engages in diverse industries through its subsidiaries and actively seeks growth through acquisitions.

BitNile Holdings (NILE) announced plans to distribute approximately 7 million shares of its subsidiary, Giga-tronics Incorporated (GIGA), as a dividend to its shareholders. This distribution will follow regulatory approvals, allowing NILE shareholders to sell GIGA shares in public or private transactions. The transaction is part of a broader strategy to enhance NILE's position in the defense and aerospace sectors, following a Share Exchange Agreement that combined GIGA with Gresham Worldwide, aimed at generating synergies and expanding market reach.

BitNile Holdings, Inc. (AMEX: NILE) announced that it received a deficiency letter from NYSE American on November 2, 2022, indicating non-compliance with continued listing standards due to its low stock price. To maintain its listing, BitNile must execute a reverse stock split or demonstrate sustained price improvement by May 2, 2023. The company is focused on growth through acquiring undervalued businesses and operates in diverse sectors, including Bitcoin mining, lending, and mission-critical product support.