ITEM 7.01 REGULATION FD DISCLOSURE
On September 19, 2022, BitNile Holdings, Inc., a Delaware corporation (the
"Company") issued a press release announcing that it expects to have 7,500
miners at its Michigan data center and 6,500 miners at the Texas facility hosted
by Computer North, LLC, installed by the end of September 2022. Based on
expected installations of the miners, the Company expects to increase its
average daily mining production to approximately 4.7 Bitcoin per day by the end
of September 2022, nearly doubling to approximately 9.33 Bitcoin per day by the
end of December 2022, based on current market conditions, including a mining
difficulty of 32.05 trillion.
In accordance with General Instruction B.2 of Form 8-K, the information under
this item shall not be deemed filed for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, nor shall such information be deemed
incorporated by reference in any filing under the Securities Act of 1933, as
amended, except as shall be expressly set forth by specific reference in such a
filing. This report will not be deemed an admission as to the materiality of any
information required to be disclosed solely to satisfy the requirements of
Regulation FD.
The Securities and Exchange Commission encourages registrants to disclose
forward-looking information so that investors can better understand the future
prospects of a registrant and make informed investment decisions. This Current
Report on Form 8-K and exhibits may contain these types of statements, which are
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995, and which involve risks, uncertainties and
reflect the Registrant's judgment as of the date of this Current Report on Form
8-K. Forward-looking statements may relate to, among other things, operating
results and are indicated by words or phrases such as "expects," "should,"
"will," and similar words or phrases. These statements are subject to inherent
uncertainties and risks that could cause actual results to differ materially
from those anticipated at the date of this Current Report on Form 8-K. Investors
are cautioned not to rely unduly on forward-looking statements when evaluating
the information presented within.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits:
Exhibit No. Description
99.1 Press Release issued on September 19, 2022.
101 Pursuant to Rule 406 of Regulation S-T, the cover page is
formatted in Inline XBRL (Inline eXtensible Business Reporting
Language).
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document and included in Exhibit 101).
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