Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

Seeking Alpha 2022-12-07 11:55:45

BitNile stock jumps after signing new hosting agreement

BitNile ( NYSE: NILE ) shares gained 6% Wednesday morning after the firm signed a hosting agreement with Agora Digital to add up to 78MW of power. Agora Digital, a majority-owned subsidiary of Ecoark Holdings ( NASDAQ: ZEST ), will initially provide up to 12MW of electricity at their digital asset mining hosting facility located in Texas for BitNile's use. An additional 66MW of power can be made available to BitNile's as determined by the firm, Agora Digital and the electricity provider. To meet obligations under the agreement, Agora Digital is required to raise at least $5M to enable the build out of the hosting facility, including the initial 12MW of power. The hosting agreement will enable BitNile ( NILE ) to install and operate the Bitcoin miners delivered by Bitmain Technologies, helping to initially power ~3,750 S19j Pro miners in the first quarter of 2023.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.