The Company Expects 1,000 S19j Pro Antminers Will Be Deployed by the End of October 2021 and Will Generate Revenue of $1 Million per Month
LAS VEGAS--(BUSINESS WIRE)--Oct. 7, 2021--
Ault Global Holdings, Inc. (NYSE American: DPW) a diversified holding company (the “Company”), announced today 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.
Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “I’m pleased with our progress in deploying the new Antminers. I firmly believe that BitNile’s operations will contribute meaningfully to the Company’s growth in both revenues and profitability.” Ault continued, “We are committed to BitNile’s long-term success and plan to access the private or public equity markets to fund additional investments in Antminers and the Data Center expansion.”
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 and press releases available under the Investor Relations section at www.AultGlobal.com or available at www.sec.gov.
About Ault Global Holdings, Inc.
Ault Global Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Global Holding’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.AultGlobal.com.
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 U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.AultGlobal.com.
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Source: Ault Global Holdings, Inc.