LAS VEGAS–(BUSINESS WIRE)–$AP #Agora_Digital—BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding (“BitNile“or the”Company”) today announced that Circle 8 Newco LLC, a newly created indirect subsidiary of Ault Alliance, Inc. (“Alliance of Ault“), a wholly owned subsidiary of the Company, has completed its acquisition of substantially all of the operating assets of Circle 8 Crane Services LLC (“Circle 8”).
Circle 8 was a crane rental and lifting solutions provider founded in 2007 and based in Corpus Christi, TX, with multiple locations in the South Central region of the United States. He maintained a large modern fleet of mobile cranes for the heavy lifting needs of his customers. In particular, Circle 8 has provided crane operators, engineering, custom rigging and transportation services for the oilfield, construction, commercial and infrastructure markets. Circle 8 has maintained an industry-leading security record.
The Company’s Founder and Executive Chairman, Milton “Todd” Ault, III, said, “We are very pleased to complete this strategic acquisition. We believe the acquisition of Circle 8 provides an important platform for growth and reinforces our strategy of investing in private equity opportunities that generate operating cash flow. As previously reported, based on current market conditions, we believe the Circle 8 assets we acquired are on track to generate over $40 million in annual revenue in 2023.”
Ault Alliance Chairman Christopher K. Wu said, “Todd and I are delighted to close this private equity investment and look forward to supporting the expected growth of our crane business.
For more information about BitNile and its subsidiaries, BitNile recommends that shareholders, investors and any other interested parties read BitNile’s public documents and press releases available in the Investor Relations section at www.BitNile.com or available on www.sec.gov.
About BitNile Holdings, Inc.
BitNile Holdings, Inc. is a diversified holding company that continues to grow by acquiring undervalued companies and disruptive technologies with global impact. Through its wholly and majority owned subsidiaries and strategic investments, BitNile owns and operates a data center in which it mines Bitcoin and provides mission-critical products that support a wide range of industries, including oil exploration , defence/aerospace, industry, crane rental. , automotive, medical/biopharmaceutical, consumer electronics, hospitality and textiles. Additionally, BitNile extends credit to certain entrepreneurial businesses through an approved lending subsidiary. BitNile’s corporate headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.BitNile.com.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend on or refer to future events or conditions, and include words such as “believes”, “plans”, “anticipates”, “projects”, “estimates”, “expects”, “intends”, “strategy”, “future”, “opportunity”, “may”, “will”, “should”, “could”, “potential” or similar expressions . Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement due to a variety of factors. Further information, including potential risk factors, that could affect the Company’s business and financial results is included in the Company’s filings with the United States Securities and Exchange Commission, including, but without limitation, Company Forms 10-K, 10-Q and 8. -K. All records are available at www.sec.gov and on the Company’s website at www.BitNile.com.
BitNile Holdings Investor Contact:
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