Jan 17, 2023 6:30 AM
Company anticipates annualized revenue run rate from Bitcoin mining operations would increase from the current run rate of approximately
Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “I am very pleased that we have completed the receipt of the 20,645 Antminers. Owning our own data center in
The Company notes that beyond the first five contracts with Bitmain, it has two more previously announced purchase agreements for an additional 1,325 S19j Pro Antminers estimated to be delivered over the first quarter 2023 and 1,140 S19 XP Hydro Antminers anticipated to be delivered during the summer of 2023. Once all of the miners are fully deployed and operational, BitNile expects to achieve a mining production capacity of approximately 2.67 EH/s, which will generate an expected annualized revenue run rate of approximately
Ault notes that all estimates and other projections are subject to the actual delivery and installation of Bitcoin miners, the volatility in Bitcoin market price, the fluctuation in the mining difficulty level, the ability to build out and provide the necessary power, and other factors that may impact the results of production or operations.
For more information on Ault and its subsidiaries, Ault recommends that stockholders, investors, and any other interested parties read Ault’s public filings and press releases available under the Investor Relations section at www.ault.com or available at www.sec.gov.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the
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