Ault Alliance,, a diversified holding company (“Ault Alliance,” or the “Company”) announced that its wholly owned subsidiary, BitNile, (“BitNile”) has issued an unaudited update on its Bitcoin mining operations reporting receiving 102 Bitcoin for the month of March 2023 as a result of its miners providing computing power to a mining pool operator. BitNile’s mining operations are currently operating at an estimated annualized gross revenue run rate of over $42 million, based on current market conditions, including a current trading price of Bitcoin at $30,000 as of April 10, 2023, and a mining difficulty of 47.89 trillion.
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BitNile recently successfully completed the installation at a Core Scientific, Inc. (“Core Scientific”) site of approximately 3,000 S19j Pro Antminers that feature a processing power of 100 terahashes per second (“TH/s”). BitNile’s operation in Michigan encompasses over 4,600 environmentally friendly S19 XP Antminers that feature a processing power of 140 terahashes per second (“TH/s”) and over 4,500 S19j Pro Antminers.
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Joseph Spaziano, the Company’s Chief Information Officer and BitNile’s Head of Mining Operations, expressed his satisfaction with BitNile’s progress, stating, “I am very pleased that the Bitcoin mining team has deployed additional miners with Core Scientific. Our mining operations are expected to further expand in the coming months with additional miners at a hosted facility in Texas and our recently purchased facility in Montana, and we have made commitments to deploy additional capacity under our control to over 20,000 miners. I look forward to the progress the BitNile team will achieve over 2023.”
Ault Alliance 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, the ability to build out and provide the necessary power for miners, and other factors that may impact the results of Bitcoin mining production or operations.
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