BitNile receives $4M from XBTO for Bitcoin Miner financing

Jun. 13, 2022 6:58 AM ETBitNile Holdings, Inc. (NILE)By: Khyathi Dalal, SA News Editor5 Comments

Golden symbolic coin Bitcoin on banknotes of one hundred dollars. Exchange bitcoin cash for a dollars. Cryptocurrency on US dollar bills. Digital modern method of payment. Savings, investments concept

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  • BitNile (NYSE:NILE) received $4M from a 12.5% note and loan agreement with XBTO Trading, an institutional finance company; note is secured by bitcoin and bitcoin miners.
  • The note provides the company the option to request additional financing of its Bitcoin miners and the company expects it will close an additional $4M of equipment financing from XBTO by June 2022 end.
  • Shares trading 12.9% down premarket.

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