Seeking Alpha
2021-10-21 10:58:52

Ault Global announces update from its subsidiary, BitNile

Based on current market conditions, Ault Global Holdings' (NYSE:DPW) subsidiary, BitNile, is currently mining ~$10M worth of Bitcoin on an annualized run rate ('ARR') basis. The Company anticipates that by the end of October, the production of Bitcoin will grow to ~$15M on an annualized basis. The Company perceives that the current market value of Bitcoin is ~$66,000 and believes that gross proceeds may reach ~$64M annually. The Company's views are subject to volatility in price, the fluctuation in the difficulty of production and price of Bitcoin, and other factors that may impact the results of production or operations. Previously (Sept. 15): Ault Global buys 3,000 more S19j Pro Antminers for $21M in pact with Bitmain. Shares of DPW are up 2% premarket.

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer