BitNile to expand Michigan Data Center power capacity to 300 MW

BitNile (NYSE:NILE) plans to expand the power capacity at its Michigan data center to 300 MW, which would enable bitcoin mining operations at the facility to operate ~90K Bitcoin miners. On installation, the company's bitcoin mining production capacity is anticipated to be ~12 EH/s, representing an estimated annualized bitcoin mining production capacity of ~19.6K bitcoin, or $779M based on a Bitcoin market price of $41K and current market conditions, including a mining difficulty level of 27.55T. BitNile has entered into agreements to purchase Bitcoin mining equipment from Bitmain Technologies and currently has ~2,160 active S19j Pro Antminers at the facility with 300 Bitcoin miners in transit and 18,140 Bitcoin miners on order with presently scheduled monthly deliveries from Bitmain through December 2022.