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You are here: Home / News / Bitcoin News / BitNile Holdings releases Bitcoin Production and Mining Report
BitNile Holdings releases Bitcoin Production and Mining Report

BitNile Holdings releases Bitcoin Production and Mining Report

January 4, 2022 by Lipika Deka

BitNile Holdings, a diversified holding company issued an update on Bitcoin production and miner installation. The firm plans to focus its mining efforts at the Michigan center as well as sell the 1,600 S9 Antminers at the Indiana location. The firm’s Bitcoin mining production is currently operating at an estimated annualized run rate of 322 BTC or roughly $16 million based on a market value of Bitcoin of $5k, and current market conditions, including a mining difficulty level of 24.3 trillion.

Most importantly, BitNile has entered into purchase agreements for a total of 20k Bitcoin miners. As per the blog post, the contract contains buying 4,600 environmentally friendly S19 XP Antminers from Bitmain Technologies Limited that feature a processing power of 140 terahashes per second [TH/s] and 16,000 S19j Pro Antminers that comes with a processing power of 100 TH/s.

As previously announced, beginning in November 2021, BitNile started receiving 300 S19j Pro Antminers per month as per a purchase agreement with China-based Bitmain that is expected to increase to 2,300 Miners per month by March of 2022. Once all 20,600 miners are fully deployed and operational, BitNile expects to achieve a mining production capacity of approximately 2.24 exahashes per second.

BitNile has received 1,885 S19j Pro Antminers with 1,705 active and energized miners generating approximately 170.5 PH/s. For the fourth quarter, it has self-mined 53.7 BTC. The firm is providing the following projected price sensitivity analysis of total Bitcoin mining revenue, assuming the installation of 20,600 Bitcoin miners and a mining difficulty level of 24.3 trillion.

BitNile and Ault Alliance

BitNile had earlier announced its plan to separate into two public companies by distributing the equity of Ault Alliance to its stockholders. Following the split of Ault Alliance, the Company, through its BitNile, Inc. subsidiary, will be focusing solely on Bitcoin mining and data center operations, together with DeFi-related initiatives. According to the P.A, Ault Alliance will however continue to carry forward the ‘firm’s legacy businesses and more recently initiated operations, including lending and investing in the real estate and distressed asset spaces as well as, among others, defense, and power solutions, including electric vehicle charging products.’

Filed Under: Bitcoin News, News Tagged With: Bitcoin Mining, BitNile Holdings

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