Ault Global Holdings Provides Update on Installation of S19j Pro Antminers
October 07, 2021 at 06:30 am EDT
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Ault Global Holdings, Inc. announced that its wholly owned subsidiary, BitNile, Inc. (‘BitNile’), is actively installing the first 1,000 S19j Pro Antminers (the ‘Antminers’) recently received at the Company’s Michigan data center (the ‘Data Center’). On September 15, 2021, the Company announced that it expects to receive an additional 300 Antminers per month between October 2021 and July 2022, bringing the total new Antminers to be deployed to 4,000. BitNile expects the first 1,000 miners will be fully operational by the end of October 2021 and will generate cryptocurrency mining revenue of approximately $1 million per month, based on a Bitcoin trading price of approximately $45,000. BitNile further expects to grow cryptocurrency mining revenue to approximately $4 million per month after installation of all 4,000 Antminers, which is expected to be completed by August 2022. While the Company believes that the future operations of the Data Center and its cryptocurrency mining operations will be successful, the Company cannot assure that it will receive all the Antminers, that the price of Bitcoin will remain high enough to generate profits or that its expectations will materialize in a timely manner, if at all.
Ault Alliance, Inc. is a diversified holding company. Through its subsidiaries, the Company owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services and provides mission-critical products. The Companyâs segments include Energy and Infrastructure, which offers crane operations, advanced textiles processing and oil exploration; Technology and Finance offers commercial lending, activist investing, stock trading, media, and digital learning; The Singing Machine Company, Inc. (SMC) offers consumer electronics; Sentinum, Inc. is engaged in cryptocurrency mining operations and colocation and hosting services for the emerging artificial intelligence ecosystems and other industries; GIGA which is engaged in defense industry; TurnOnGreen offers commercial electronics solutions; RiskOn International, Inc. (ROI) offers immersive metaverse platform, and Ault Disruptive is a special purpose acquisition company.