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Seeking Alpha 2022-01-03 18:39:10

BitNile reports current estimated annualized run rate of 322 Bitcoin

BitNile reports current estimated annualized run rate of 322 Bitcoin

BitNile's (NILE +9.7%) bitcoin mining production is currently operating at an estimated annualized run rate of 322 Bitcoin or ~$16.1M (on current market value of bitcoin of $50K) including a mining difficulty level of 24.3T. BitNile has received 1,885 S19j Pro Antminers with 1,705 active and energized miners generating ~170.5 PH/s. For Q4, BitNile has self-mined 53.7 Bitcoin. The company plans to focus its mining efforts at the Michigan data center and intends to sell the 1,600 S9 Antminers at the Indiana location. BitNile has entered into purchase agreements for 20.6K bitcoin miners; it includes 4.6K environmentally friendly S19 XP Antminers from Bitmain Technologies and 16KS19j Pro Antminers. From November 2021, the company started receiving 300 S19j Pro Antminers per month in relation to the purchase agreement with Bitmain; from March 2022, his schedule will increase to an expected 2.3K miners per month. Post 20.6K miners are fully deployed and operational, BitNile is expected

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