Benzinga | Oct 29, 2021 06:31AM EDT

Ault Global Reports Its BitNile Bitcoin Mining Subsidiary Sees Bitcoin Mining Of $14M-$15M On Annualized Basis

Ault Global Holdings, Inc. (NYSE:DPW), a diversified holding company (the "Company"), is pleased to provide an update on its subsidiary, BitNile, Inc. ("BitNile"), whose mining production of bitcoin has grown, as anticipated, to between $14 million and $15 million on an annualized basis, based on current market conditions. The Company recently announced that BitNile will begin bimonthly reporting, starting November 15, 2021, of the number of bitcoin miners installed and the amount of bitcoin mined at its Michigan data center. The bimonthly reports will be available at www.BitNile.com.

Milton "Todd" Ault, III, the Company's Executive Chairman, stated, "We are very pleased to achieve our projected growth and look forward to a steady progression in bitcoin mining production and revenue. We are excited about our future reporting and the transparency we believe that is important to our partners and shareholders. We expect increasing contributions from BitNile to our topline revenues and bottom-line results."

Starting in November 2021, BitNile expects to receive 300 S19j Pro Antminers per month for the next 10 months in accordance with the purchase agreement with Bitmain for the expected installation of an additional 3,000 S19j Pro Antminers by the end of August 2022. The Company notes that all estimates are subject to volatility in price, the fluctuation in the difficulty of production and the price of bitcoin, and other factors that may impact the results of production or operations.

For more information on Ault Global Holdings and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company's public filings with the SEC and press releases available under the Investor Relations section at www.AultGlobal.com or available at www.sec.gov.