BitNile Holdings, Inc., a diversified holding company (“BitNile” or the “Company”), published an unaudited update on Bitcoin production and miner installation. The number of miners and production capacity metrics within this press release represent the S19j Pro Antminers at the Michigan data center. BitNile’s Bitcoin mining production is currently operating at an estimated annualized run rate of 327.26 Bitcoin based on current market conditions, including a mining difficulty of 26.6 trillion.
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BitNile has received 2,185 S19j Pro Antminers with 1,860 active miners generating a combined processing power of approximately 189 petahashes per second, the computational power that is being used to mine Bitcoin. During the month of January 2022, BitNile self-mined 27.19 Bitcoin. To date, BitNile has mined a total of 74.98 Bitcoin. As previously planned, BitNile completed the sale of the 1,600 S9 Antminers at the Indiana location.
Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “We are pleased that the team has been creatively working through supply chain delays and Bitcoin price fluctuations to keep our operations on track and mining profitably. We anticipate that in the month of February, we will achieve an average of at least one Bitcoin per day in mining activity, based on expected miner installations and current difficulty levels, which will contribute nicely to our overall top line revenue.”
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As a reminder, BitNile has entered into purchase agreements with Bitmain Technologies Limited (“Bitmain”) 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.
BitNile began receiving 300 S19j Pro Antminers per month in November 2021 in accordance with the purchase agreement with Bitmain. Beginning in March 2022, this schedule will increase to an expected 2,300 miners per month. Once all 20,600 miners are fully deployed and operational, BitNile is expected to achieve mining production capacity of approximately 2.24 exahashes per second.
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