Ault Global Holdings BitNile Inc. subsidiary will start producing and mining bitcoins. Ault Global Holdings, Inc., a diversified holding company (the “Company”). They pleased to announce that its subsidiary, BitNile, Inc. (“BitNile”). Will begin reporting bimonthly data on the number of bitcoin (“BTC”) miners. Installed and the amount of BTC mined at its Michigan data center on November 15, 2021, effective immediately. The bimonthly reports will be made available on the BitNile website at www.BitNile.com.
According to the most recent report from the company, it is currently mining around $10 million. Worth of bitcoins on a yearly run rate basis, based on current market conditions. The company also indicated that it estimates that BTC production will increase. To approximately $15 million on an annually basis by the end of October. A 15% increase from the current level.
“In order to be transparent in a blockchain world built on the principle of enabling transparency. The Company will begin revealing the number of miners that have been installed. As well as the amount of bitcoin that has been mined,” said Milton “Todd” Ault, III. The Company’s Executive Chairman. It is our belief that this information is vital to our partners. And shareholders, and we are enthusiastic about the expected contributions. From BitNile to our top-line revenues and bottom-line earnings.
The Company earlier announced a purchase deal with Bitmain
Bitmain has entered into a purchase agreement with the Company, and the Company expects. To install 3,000 S19j Pro Antminers by the end of August 2022. Which will be in addition to the 1,000 S19j Pro Antminers that were receive in September 2021. Increasing gross mining revenue to approximately $48 million per year. Based on an assumed market value for Bitcoin (BTC) of $45,000.
BTC is currently value at roughly $66,000 on the market, and the Company anticipates. That gross profits will reach approximately $64 million per year if present market circumstances continue. Also noted is that all estimations are subject to price volatility. Fluctuations in the difficulty of production and the price of Bitcoin, as well as other factors. That could have an impact on the outcomes of production or operations.
Investors and other interested parties should study the Company’s public filings. With the Securities and Exchange Commission (SEC), as well as its news releases. Which can also found under the Investor Relations section, for additional information about Ault Global Holdings, Inc. and its subsidiaries.
About Ault Global Holdings, Inc.
It is also the goal of Ault Worldwide Holdings, Inc., a diversified holding company, to achieve growth. Through the acquisition of undervalued businesses and innovative technologies. That have a significant global impact. The Company’s wholly and majority-owned subsidiaries, as well as strategic investment. Produce mission-critical products that support a varied variety of industries. Including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma. Also, textiles, and other related industries. In addition, the Company, through a licensed lending subsidiary. Provides finance to chosen also entrepreneurs starting up their own enterprises.