DPW - Ault Global subsidiary signs deals to purchase 16000 Bitcoin miners

Ault Global's (NYSE:DPW) subsidiary, BitNile, signed contracts with Bitmain Technologies to buy 16,000 additional Bitcoin miners. The miners, which will include S19 XP and S19j Pro Antminers, will ship between March and September 2022. Once deployed, they will raise BitNile’s hash rate to ~2.16 exahashes per second (EH/s). The agreements also complete BitNile’s goal of obtaining 20,000 Bitcoin miners. The eco-friendly S19 XP Antminers have a processing power of 140 terahashes per second (TH/s) and use 3.01 kWh of energy. The S19j Pro Antminers are rated at 100 TH/s with an energy consumption of 2.95 kWh. Ault Global estimates Bitcoin mining to generate gross annualized revenues between $295M and $320M with margins of ~90% net of costs. Despite the news, Ault Global is trading -5.38%.

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Ault Global subsidiary signs deals to purchase 16,000 Bitcoin miners