Ault Global approves up to $140M in additional capital for BitNile’s expansion

Ault Global Holdings’ (NYSE:DPW) subsidiary BitNile targets growth to 20,000 Bitcoin miners increasing the total hash rate to 2.0 EH/s from 0.4 EH/s. The Company plans to purchase and install the additional 16,000 Bitcoin miners over the next 12 months, subject to raising the capital. The company says that it has not entered any written contracts or commitments for the additional capital. Upon securing the requisite financing and the installation of the 16,000 Bitcoin miners, the Company estimates gross annualized revenues would grow to ~$275M with net margins of ~89%, based on a market value of Bitcoin at $60,000 and a mining difficulty level of 20 trillion.