BITNILE ACQUIRES 617,000 SQ FT CRYPTOMINE DATA CENTRE
PRESS RELEASE: BitNile Holdings has announced that BitNile now owns 100% of Alliance Cloud Services (ACS) which includes the ACS 617,000 square foot energy-efficient cryptomining data centre facility located on a 34.5 acre site in southern Michigan where BNI conducts the Company’s Bitcoin mining operations.
Milton Ault, III, the Company’s Executive Chairman, stated, “Full ownership of the Facility improves flexibility and the ability to execute on our future strategic plans for Bitcoin mining. The completion of this purchase reaffirms our commitment to becoming one of the largest publicly traded Bitcoin miners in the country.”
The Facility was first acquired in January 2021 and has since undergone significant renovations to accommodate the Company’s growing Bitcoin mining operations. BitNile recently announced it has invested a total of $127 million on its Bitcoin mining operations, including approximately $115 million in the purchase of Bitcoin miners and $12.3 million for the purchase of the Facility and infrastructure improvements.
As previously disclosed, BitNile has entered into purchase agreements with Bitmain Technologies Limited 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 and 16,000 S19j Pro Antminers that feature a processing power of 100 TH/s. Once all 20,600 miners are fully deployed and operational, BitNile expects 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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