BitNile Expects Its Bitcoin Mining Rate To Double By December

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According to Milton Todd Ault III, “The plan to grow our Bitcoin mining operations is clear, and it is rewarding to see the team continue to deliver on the goal of timely installation of new Bitcoin miners as they arrive at our Michigan data center and the Texas hosted facility.”

BitNile Holdings Inc. revealed that the firm expects its Bitcoin mining rate to hit 4.7 BTC per day by the end of this month, and anticipates this number to double by the end of the year.

BitNile announced its plans to add 7,500 miners to its Michigan data facility and 6,500 miners to Compute North’s Texas facility by the end of September, thus increasing the company’s expected daily mining production to roughly 4.7 BTC per day.

The press release claims that 2,004 of BitNile’s S19j Pro Antminer units were previously held for review by the US Customs and Border Patrol. After their release, the miners will be sent to BitNile’s Michigan facility.

Milton Todd Ault III adds,

"Our recent purchase of additional Bitcoin mining equipment demonstrates our belief in the long-term outlook for Bitcoin."

The firm believes its mining capacity will hit 2.3725 exahashes per second once the new miners are fully deployed. BitNile factors the mining difficulty of 32.05T into its calculations and expects its mining production rate will reach 9.33 BTC daily by the end of the year.

According to Milton Todd Ault III, “The plan to grow our Bitcoin mining operations is clear, and it is rewarding to see the team continue to deliver on the goal of timely installation of new Bitcoin miners as they arrive at our Michigan data center and the Texas hosted facility.”

BitNile Holdings Inc. revealed that the firm expects its Bitcoin mining rate to hit 4.7 BTC per day by the end of this month, and anticipates this number to double by the end of the year.

BitNile announced its plans to add 7,500 miners to its Michigan data facility and 6,500 miners to Compute North’s Texas facility by the end of September, thus increasing the company’s expected daily mining production to roughly 4.7 BTC per day.

The press release claims that 2,004 of BitNile’s S19j Pro Antminer units were previously held for review by the US Customs and Border Patrol. After their release, the miners will be sent to BitNile’s Michigan facility.

Milton Todd Ault III adds,

"Our recent purchase of additional Bitcoin mining equipment demonstrates our belief in the long-term outlook for Bitcoin."

The firm believes its mining capacity will hit 2.3725 exahashes per second once the new miners are fully deployed. BitNile factors the mining difficulty of 32.05T into its calculations and expects its mining production rate will reach 9.33 BTC daily by the end of the year.

Written by
Ayush Pande