Written by 5:37 pm Bitcoin

Bitnile Announces Annualized Run Rate of 1,484 Bitcoin in Michigan

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Bitnile’s data center in Dowagiac is now producing 1,484 Bitcoin annually based on current market conditions. // Stock Photo

BitNile Inc., a subsidiary of Las Vegas’ Ault Alliance Inc. with a Bitcoin mining operation in Dowagiac (southwest of Kalamazoo), announced its mining production is currently operating at an estimated annualized run rate of 1,484 Bitcoin based on current market conditions, including a mining difficulty of 34.09 trillion.

“The team has continued to optimize our mining operation in Michigan, and as a result increased mining production from November to December by approximately 1 Bitcoin per day (92 to 123). I look forward to 2023, as we continue to diligence other potential opportunities for additional mining operations.”

BitNile has 20,441 S19j Pro and XP Antminers in possession, which once installed and energized, will generate a combined processing power of approximately 2.21 exahashes per second (EH/s), the computational power that is being used to mine Bitcoin.

During the month of December 2022, BitNile received 123.71 Bitcoin as a result of its miners providing computing power to a mining pool operator, and to date, BitNile has received a total of approximately 738 Bitcoin.

As previously disclosed, the company has entered into purchase agreements with Bitmain Technologies Limited for a total of 23,065 Bitcoin miners, including 4,600 environmentally friendly S19 XP Antminers that feature a processing power of 140 terahashes per second (TH/s), 17,325 S19j Pro Antminers that feature a processing power of 100 TH/s and 1,140 S19 XP Hydro Antminers that feature a processing power of 255 TH/s.

Once the miners are fully deployed and operational, BitNile expects to achieve a mining production capacity of approximately 2.66 EH/s.

BitNile notes that all estimates and other projections are subject to the actual delivery and installation of Bitcoin miners, the volatility in Bitcoin market price, the fluctuation in the mining difficulty level, the ability of Agora Digital Holdings Inc. to raise the required capital and to build out and provide the necessary power to its facility in Texas, with whom BitNile has contracted, and other factors that may impact the results of production or operations.

To read a DBusiness cover story about cryptocurrency featuring the Dowagiac data center, click here.

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