Benzinga | Nov 10, 2021 06:46AM EST

Ault Global Holdings' Subsidiary BitNile Enters Into Partnership with Bitmain With Acquisition Of Bitmain's S19XP Antminers

Ault Global Holdings, Inc. (NYSE:DPW), a diversified holding company (the "Company"), announced today that its subsidiary, BitNile, Inc. ("BitNile"), has entered into a partnership with Bitmain, Inc. ("Bitmain"), with the acquisition of Bitmain's first environmentally friendly S19XP Antminers that feature a processing power of 140 terahashes per second (TH/s) with an energy consumption of 3.1 kilowatt-hours (kWh). The S19XP Antminer is faster and requires less energy than do BitNile's current miners, providing approximately 40% more processing power while using approximately the same amount of power. The agreement was finalized today at the World Digital Mining Summit 2021, which is hosted by Bitmain and held in Dubai. BitNile is one of only five companies worldwide authorized to acquire and deploy this disruptive technology from Bitmain, the world's leading manufacturer and producer in the digital mining sector. The installation of these environmentally friendly Antminers at BitNile's state-of-the-art Michigan Data Center will result in a significant increase in BitNile's Bitcoin mining capabilities and future revenues. The Company intends to provide the expected delivery schedule of the new S19XP Antminers and an update on its revenue forecast for 2022 and 2023 on or about December 20, 2021. This partnership, including the acquisition of the S19XP Antminers, brings BitNile substantially closer to its previously stated goal of possessing 20,000 miners and becoming one of the top 10 publicly traded Bitcoin miners in the United States. BitNile is striving to be environmentally conscious as it expands its mining operations and today's announcement is a significant milestone towards BitNile's long-term goal of achieving a carbon-neutral operational footprint in its mining operations.