NILE - BitNile sees 119% growth in 2021 revenue ahead of analysts estimates
BitNile (NYSE:NILE) trades 8.8% higher premarket after it estimates prelim revenue of ~$52M for 2021 (+119% Y/Y); for 2022, revenue is expected to be ~$155M (+197% Y/Y). Analysts consensus estimates for full year ended December 2021 revenue stands at $47.6M (+99.3% Y/Y) while for 2022 it is seen at $68.2M (+43.3% Y/Y). The company’s projected Bitcoin mining revenue, presumes the installation of 20.6K Bitcoin miners by 2022 end, a Bitcoin price of $41.5K and a mining difficulty level of 26.7T. The company expects to grow its Bitcoin mining operations through strategic procurement of power at its Michigan data center for supporting the additional Bitcoin mining equipment it plans to install in 2022. Through increased sales of its electric vehicle charging products, TurnOnGreen projects revenue is seen growing from $5.3M in 2021 to $13.1M in 2022. Ault Global Real Estate Equities is likely to see revenue of $15.4M; it recently acquired four hotels including two Marriott and two Hilton
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BitNile sees 119% growth in 2021 revenue, ahead of analysts estimates