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New Division Dedicated to Providing Full-Service Blockchain Hosting Including Mining Equipment, Power Solutions, and Infrastructure for Digital Asset Mining
LAS VEGAS, March 14, 2022--(BUSINESS WIRE)--BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company ("BitNile" or the "Company"), announced today that its subsidiary, BitNile, Inc. has formed a new division, BitNile Mining Solutions ("BMS"). BitNile’s cryptocurrency mining focus to date has been on self-mining Bitcoin. BMS will leverage BitNile’s deep industry partnerships, including its partnership with Bitmain Technologies Limited. BMS will focus on the sourcing and sales of cryptocurrency miners and related equipment and offering additional blockchain infrastructure services such as hosting, managing electrical power, repair and other crypto-focused infrastructure solutions. BMS will offer products and services to companies ranging from start-ups to providing fully integrated industrial operations and solutions including self-mining. Interested parties can contact the new division at Solutions@BitNile.com.
As previously announced, BitNile plans to expand the power capacity at its Michigan data center to 300 megawatts, which would enable Bitcoin mining operations at the facility to operate approximately 90,000 Bitcoin miners with a mining production capacity that is anticipated to be approximately 12 exahash per second (EH/s), which allows for BitNile to expand its self-mining operations and provides significant additional capacity for BMS to offer hosted crypto-focused infrastructure solutions.
Milton "Todd" Ault, III, the Executive Chairman of BitNile Holdings, Inc., said, "We are excited to launch this new division, which is built upon our more than four years of experience as bitcoin-mining and data center operators and investors. The digital mining space is dynamic and can be difficult to navigate with continuous changes in product offerings and technology. We believe it is important to partner with a team dedicated to managing these changes and providing real-world solutions." Ault noted, "We look forward to leveraging our relationships and industry knowledge to develop a robust single-stop source for all things crypto. We are proud to strengthen the cryptocurrency mining market in North America and believe we can provide our customers with reliable expertise to secure miners, power and all the elements necessary to create a thriving operation."
About BitNile Holdings, Inc.
BitNile Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, BitNile owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma, and textiles. In addition, BitNile extends credit to select entrepreneurial businesses through a licensed lending subsidiary. BitNile’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.BitNile.com.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.BitNile.com.
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BitNile Holdings Investor Contact:
IR@BitNile.com or 1-888-753-2235