Las Vegas-based BitNile Holdings Inc., which has a data center in Dowagiac (southeast of Benton Harbor), said it plans to increase its average daily mining output to around 4.7 Bitcoin per day. by the end of September.
At this rate, mining production will almost double to around 9.33 bitcoins per day by the end of December, based on current market conditions, including a mining difficulty of 32.05 trillion.
The company says it expects to have 7,500 miners in its Michigan data center and 6,500 miners in Texas facilities hosted by Computer North installed by the end of this month. This includes the 2,004 S19j Pro Antminers that had been detained by US Customs and Border Patrol for review and audit, which were released and delivered to the BitNile facility in Michigan.
“While the market has experienced a crypto winter, our investment in the Michigan data center and our positive relationship with Bitmain gives us confidence in our long-term plans for Bitcoin mining,” Milton says. Todd” Ault III, executive chairman of BitNile.
“Our recent purchase of additional Bitcoin mining equipment demonstrates our confidence in Bitcoin’s long-term prospects. The development plan for our bitcoin mining operations is clear, and it is gratifying to see the team continue to meet the goal of timely installation of new bitcoin miners as they arrive in our Michigan data center and around the world. facility hosted in Texas.
As previously reported, BitNile has entered into purchase agreements with Bitmain Technologies Limited for a total of 21,925 Bitcoin miners, including 4,600 eco-friendly S19 XP Antminers that boast 140 terahashes per second of processing power ( “TH/s”) and 17,325 S19j Pro Antminers with 100 TH/s processing power. Once all miners are fully deployed and operational, BitNile expects to reach a mining production capacity of around 2.3725 exahashes per second.
BitNile notes that all estimates and other projections are subject to actual delivery and installation of Bitcoin miners, volatility in Bitcoin market price, fluctuation in mining difficulty level, and other factors that may have impact on production or operating results.
Click here to read Business’ detailed cryptocurrency coverage report from the March/April 2022 issue.