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Tuesday, January 31, 2023

BitNile (AMEX: NILE) Establish New Division to Offer Blockchain and Cryptocurrency Mining Solutions

BitNile Holdings, Inc. (AMEX: NILE) has finally confirmed that its subsidiary, BitNile, Inc. has established a new division, BitNile Mining Solutions (BMS). The purpose behind the launch of the new division is to provide Blockchain and cryptocurrency mining solutions. BitNile has focused its cryptocurrency mining efforts too far on self-mining Bitcoin. BitNile’s significant industry ties, notably its collaboration with Bitmain Technologies Limited, will be leveraged by BMS.

Previously, BitNile disclosed its intention to increase the power capacity at its Michigan data center to 300 megawatts, which would allow Bitcoin mining operations at the facility to run nearly 90,000 Bitcoin miners with a mining production capacity that is likely to be around 12 exahash per second (EH/s). It allows BitNile to increase its self-mining operations and offer substantial additional capacity for BMS to provide hosted crypto-focused infrastructure solutions.

Furthermore, BMS will target sourcing and selling bitcoin miners and related equipment, as well as providing blockchain infrastructure services such as hosting, managing electrical power, repair, and other crypto-focused infrastructure solutions. BMS will provide goods and services to a wide range of businesses, from start-ups to highly integrated industrial processes and solutions, such as self-mining.

Additionally, BitNile Holdings, Inc.’s Executive Chairman stated that the company is pleased to introduce this new division, which is based on its more than four years of experience as bitcoin-mining and data centre operators and investors. With constant changes in product offerings and technology, the digital mining market is evolving and can be hard to maneuver. The company believes it is critical to work with a team that is committed to handling these changes and giving practical solutions.

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