NILE - BitNile's subsidiary executes purchase agreement to own 100% of Alliance Cloud Services

BitNile's (NYSE:NILE) wholly owned subsidiary now owns 100% of Alliance Cloud Services as the former closed a purchase agreement with the earlier 30% owners of the latter. Alliance owns and operates a facility in southern Michigan where BitNile conducts it mining operations. The facility was first acquired in January 2021 and has since undergone significant renovations. Recently, BitNile invested $127M on its Bitcoin mining operations, including ~$115M in the purchase of Bitcoin miners and $12.3M for the purchase of the facility and infrastructure improvements.

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BitNile's subsidiary executes purchase agreement to own 100% of Alliance Cloud Services