BitNile Holdings Achieves Bitcoin Mining Production Milestone of More Than One Bitcoin per Day
BitNile Holdings, Inc., a diversified holding company published an unaudited update on its Bitcoin production activity. As expected, the most recent delivery of the S19j Pro Antminers have been installed at our Michigan data center thereby increasing BitNile’s average daily mining production to more than one Bitcoin per day. BitNile’s Bitcoin mining production is currently operating at an estimated annualized run rate of 367.34 Bitcoin based on current market conditions, including a mining difficulty of 26.7 trillion.
Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “We are pleased that the BitNile team continues to deliver on the goal of timely installation of new Bitcoin miners as they arrive at our Michigan data center. The plan to grow our Bitcoin mining operations is clear, and it is rewarding to see the team achieve key milestones along the way.”
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As previously disclosed, BitNile has entered into purchase agreements with Bitmain Technologies Limited for a total of 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 will continue to publish monthly updates on Bitcoin production and miner installation.
The Company notes Bitcoin mining results are subject to the actual delivery and installation of Bitcoin miners, the volatility in Bitcoin market price, the fluctuation in the mining difficulty level, and other factors that may impact the results of operations.
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