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 398 Bitcoin based on current market conditions, including a mining difficulty of 28.59 trillion.
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“We are excited to see our order for 12,000 S19j Pro miners starting to arrive at our facility in Michigan. The entire team is working hard to ramp up rapidly as we expect to install approximately 2,300 miners per month.”
BitNile has more than doubled its miner count and now has 4,754 S19j Pro Antminers in its possession, and once installed, will generate a combined processing power of approximately 500 petahashes per second, the computational power that is used to mine Bitcoin. During the month of March 2022, BitNile self-mined 31.7 Bitcoin. To date, BitNile has self-mined a total of 132.6 Bitcoin.
Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “We are excited to see our order for 12,000 S19j Pro miners starting to arrive at our facility in Michigan. The entire team is working hard to ramp up rapidly as we expect to install approximately 2,300 miners per month.”
As previously disclosed, 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.
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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 increased 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.
The Company notes that all estimates and other projections 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 production or operations.
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