BitNile to buy additional mining equipment from Bitmain

BitNile ( NYSE: NILE ) has agreed to purchase a total of 1,140 S19 XP Hydro Antminers, along with six customized power containers, from Bitmain. The company anticipates delivery of 190 XP Hydros and one container per month for six consecutive months starting in July 2023. The XP Hydro is said to offer a maximum hashrate of 255 TH/s at 5304W. By the end of 2023, BitNile ( NILE ) expects to have a total number of 23,065 mining units in operation. Executive Chairman Milton Ault, III, stated, "Despite the market having experienced tremendous volatility over these past many months and, more recently, failures and bankruptcies that have spawned a crypto downturn and lack of faith by some in the future of crypto, we remain committed to our strong favorable outlook with respect to Bitcoin, in our investment in the Michigan data center and our positive relationship with Bitmain. We have confidence in our long-term plans to grow our Bitcoin mining operations and our most recent purchase of additional mining equipment evidences this belief as well as in the prospects of Bitcoin itself." As previously disclosed, BitNile ( NILE ) has entered into purchase agreements with Bitmain Technologies for a total of 21,925 Bitcoin miners.