BitNile (NYSE:NILE) invested a total of $127M on its bitcoin mining operations at its Michigan data center, including $114.7M in the purchase of bitcoin miners from BITMAIN Technologies and $12.3M for the purchase of the data center and infrastructure improvements. With the recently announced payment in full of $66M in senior secured debt, the company is virtually debt free; with recent improvement in its financial condition, it estimates that over time it will invest up to an additional $70 to $80M in bitcoin miners and infrastructure improvements. Recently, BitNile mined 31.7 bitcoin in March 2022. Shares trading 3.4% higher premarket.
