BitNile Holdings, Inc., a diversified holding 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 and XP Antminers at the Company’s Michigan data center and the hosted Texas facility. BitNile’s Bitcoin mining production is currently operating at an estimated annualized run rate of 948 Bitcoin based on current market conditions, including a mining difficulty of 36.84 trillion.
BitNile has increased the number of miners in possession to 19,126 S19j Pro and XP Antminers, which once installed and energized, will generate a combined processing power of approximately 2.036 exahashes per second (“EH/s”), the computational power provided to the mining pool to mine Bitcoin. During the month of October 2022, BitNile received 81.2 Bitcoin as a result of its miners providing computing power to a mining pool operator, and to date, BitNile has received a total of 518.2 Bitcoin.
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Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “The team continues to install the XP miners in Michigan as they arrive on site. We expected that our miners at the Texas facility would be energized in October, but that facility has experienced delays. We just conducted a site visit to the Texas facility and confirmed that substantially all of our miners are installed and ready to operate once energized, which we hope is imminent.”
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As previously disclosed, BitNile has entered into purchase agreements with Bitmain Technologies Limited (“Bitmain”) for a total of 21,925 Bitcoin miners, including 4,600 environmentally friendly S19 XP Antminers that feature a processing power of 140 terahashes per second (“TH/s”) and 17,325 S19j Pro Antminers that feature a processing power of 100 TH/s. Once all of the miners are fully deployed and operational, BitNile expects to achieve a mining production capacity of approximately 2.37 EH/s.
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, the energizing of the Texas hosting facility and other factors that may impact the results of production or operations.
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