BitNile to expand Michigan Data Center power capacity to 300 MW

• BitNile (NYSE:NILE) plans to expand the power capacity at its Michigan data center to 300 MW, which would enable bitcoin mining operations at the facility to operate ~90K Bitcoin miners.
• On installation, the company's bitcoin mining production capacity is anticipated to be ~12 EH/s, representing an estimated annualized bitcoin mining production capacity of ~19.6K bitcoin, or $779M based on a Bitcoin market price of $41K and current market conditions, including a mining difficulty level of 27.55T.
• BitNile has entered into agreements to purchase Bitcoin mining equipment from Bitmain Technologies and currently has ~2,160 active S19j Pro Antminers at the facility with 300 Bitcoin miners in transit and 18,140 Bitcoin miners on order with presently scheduled monthly deliveries from Bitmain through December 2022.

Comments

[Anaconda Steel]

Yeah… No forward looking statements there at all: IF we had 90k miners, we would have enough power for them, AND then we would be at 12EH - but in the meantime we’ll roll with our 20k machines, that SHOULD be here and fully installed by end of 2022.

Sounds like nothing could go wrong with the plan - besides hash rate decreases due to increased network difficulty, and server delivery issues, I’ll check in around December then…

[Greenstocks2020]

@Anaconda Steel What do you think by now? Looks cheap

[Anaconda Steel]

@Greenstocks2020

Not sure - depends on your comps and valuation metrics. todays divesture of TOG (and how it’s being divested) sends mixed signals…

[Equities Ghoul]

@Anaconda Steel what are the mixed signals? I’m two months the company will receive 2 months worth of Bitmain miners all at once.