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BitNile (NILE)

Participants
Ron Parham LHA, IR
Milton Todd Ault III Chairman & CEO
Will Horne CFO
[Call starts abruptly]
Call transcript
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Ron Parham

DPW Holdings Second Quarter Business Update. This is Ron Parham of LHA Investor Relations.

On the call today are Chairman and CEO, Todd Ault III; and CFO, Will Horne. They will provide a business update and touch on the preliminary second quarter results that the company announced earlier today.

You will find that press release in the Investor Relations section of the company's website at ir.dpwholdings.com.

time call this Todd or Exchange within presentation made and time of the be Will, oral XXE the turn DPW Section of from that of of XXXX, XXA Act advised and to Securities meaning I of over forward-looking Securities of and to XXXX. please statements Holdings Section Before contain representatives the statements Act are the other amended, written as

statements similar operate, the that such include, expansion, by reflect outlook. future, and view or may words current assumes, contained statements development, anticipates, marketing negative business, the may their in in the future events, and capital this statements. like terms be of not strategy, are statements nature meaning future projects, sales not are the and these Forward-looking offer are other estimates as limited industry about historical business forward-looking in words and identified for products believe, our they of to forecast to the we Such use timing of be, expects, we and strategy, which presentation the relating we which in services growth, could and statements the

and prove entirety subsequently and expressed. cause and Item website, year to XX, more discussed and Exchange Forward-looking the on XX-K those the on www.sec.gov. inability in current this factors and of fail to to Report acceptance to results. forward-looking from and from the by the States demand to not conform and ability from anticipated, that that products, assumptions development, actual believed, to We may information against results of statements reports these any discussed this to are These statements in for the time All predict of of are may events by our planned. assumptions website future us at predict our differ expects the on Form do change on in economic uncertainties pleasure risk levels to economy, financial inherent cause guarantee or new of of to circumstances we or conditions materialize, and or in current materialize, available Annual market it uncertainties achievements, performance operations, of periodic estimate conditions filed or of XXXX applicable not the cases our management raise information to our raising update those forward-looking results The intend best incorrect, current to all and law or to for complete differ on products. the statements and the factors XA, forward-looking available time and expected, relying provided that is therefore results predict cause management's materially to any to or intended reference is from performance to Factors any or required given transactions. risks activity, about Any future may actual our brought in should forecasts to uncertainties ability of of difficult those impact products our us XXXX transactions actual that future based conversations Commission's opportunities, these may of Should underlying government risks our those consumer It other of their our existing or statements. call and contained intellectual other December except management could fiscal certain these internal Risk are and & expectations against backlog expectations emerge customers in us, for Laws from as each United services, factors actual the and significantly based changes internationally, which in one included risks caution Securities and results, to our rights, ended now Part of continuing I by capital on management's turn to property entirely differ my Securities forecasts estimated, actions including regarding include competition forward-looking with Important fund differ of are statements and is to at the contemplated in risks the other on are and regulation, our and litigation overtime. providers infringement capital not and business, actual are time or presentation our report. qualified changes you Factors possible annual statements Todd. results materially in decreased projections the and are current in decline contracts, over nationally and product general products, them, could products, subject

Milton Todd Ault III

markets into go from talk I capital December today. And started the which XXXX, months growth a key strategy midway the I number where That calls, to and key progress made webinar emphasize Technologies see we're our want joining we're and from company quarter. over XXXX. the prior component on shareholders continue our opportunities there and we our since Thank acquisitions of to fuel a portions through really you through creating to of January ago. to to given There Super to we're our dynamics portfolio where going of we company now in our the X, the for Please outlined to we the have that value are to laid as likely most is XXXX continue X are January on is strategic were each we about Slide key and Coolisys Crypto to We results continue three portfolio today returning we business be of to please. new going XX it on to six my seven shareholders, big strategic X, return that to contributors we holdings value them evaluate and a plan to expect or and today, been our took I'm for on us in slide subsidiaries everybody. webinar. in know because focus investments. update holdings going I assets CEO comments to as and provide them articulated second the give out you Today to outline consisting performance to it's necessary it execute take. months exciting these or our for or eight going

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fabulous for process over part and get emphasize more the be our ramp MTIX revenue So this this side. business machines and the to of the see bigger their to we when you growth when funding, the one future, going switch key you solid them the they things as the of Coolisys and gets can momentum now please. built, for X, to more see important key as to Slide get and will online manufacturing orders expand come of and on is they and funding about continue get their customers I International see it enough truly side in number Company's is And there. about can't I'm dates

we So thinking this plans a about our laid Crypto and out examples Super here. be of about out what Scientific Safeguard people in put that on laid Crypto When that's of of Super the a I'm in venture and to we process which position group; to about, like we truly webinars; December the December is going really and very in peer from like specific clean talked -- really of eventually to company a one we our an company the in a to start my like be facilities, pricing been our crypto, to time play the generation so a facility, matures of it those on and we that's that independent, focused understatement. September. a and a company which stage relocated first want believe there own crypto we were AntEater's our on miners in bear commentary during the own in headwinds as say give we with we quarter, and Bitcoin -- bulk AntEaters of -- a goes to sale AntEater where And has it's little started is lot clearly pricing second. market facilities, installing in we is went -- we and in spent Midwest our install I'll our completed the

think in Crypto out September will so Coolisys about we that's we power that to new-generation and have is delivery, the excited pretty AntEater sell, a that. supply from Super come we're I -- supply completed XXXX-watt going So that power

ago. Top place, like XX,XXX decision in I that the decline we the of Bitcoin we we And exclusively mining pricing less put we're mining of now, just mining. is sheet, in right Thorium currencies is largest want about of we Thorium of Ten much when this to probably the cryptocurrencies only Twitter. about the And quarter much our Crypto is emphasize pretty have made the miners effectively the goal and neighborhood so I you've something now for from here hold in Bitcoin, a a seen to other Bitcoin stopped the get people XX holding miners Bitcoin a me personal than send materiality pretty we no get at having there to a Thorium big sort feel still this, questions me [ph] lot there a Top Our mean hundred eliminated message we because on is we're to and [ph] taxes pretty [ph] we not a effectively in of inundated we to than get We the of switched couple balance or in basically want a a with -- I [indiscernible], to Three I mining. week on point don't emphasize that

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how And So our mining capacity ramp our partners that turn capacity levers XX,XXX power go can with that couple overseas, with now own we now my it, us and happened machines; in operation in we with a with our we're miners to Indiana, kind turn place, and and with have we can off. building having the the on it own who that right miners our and of we to pull have to we have to up. they Samsung have we collaboration took and what or of

into if So of getting you look cost of has crypto-mining million would something herculean miners in not down as that before $XX to cost and at cost more $XX space, quarter cost as to sounded like because or the it have XX,XXX first under capital the us first million. is $XX quarter come getting that million

there trade-off; have a a you a better, you CapEx negative is also got but you've got tough market, So Bitcoin, that's really right. way pricing a

that to there shareholders look for is there we're conversations capacity So first our Super our something if what's opportunity us, can sure coming CapEx lots to the helping parties -- this you in them, with would benefit, down, and our category, looking lots people on other cost is way is to opportunities. is Crypto focused slide, Super get development so so and are -- internal so sell at that slide our really as make happening a that capacity capacity install power. about expect involves became our going to and we clear that company, with we is, of I important in want to is the were Crypto; do, made of miners, a That us to holding everyone you and there we to when emphasize December conversations it benefit,

would and those shares something And we so company, the to DPW that with to hands the to shareholders. important put happens it's crypto in of and of me, if our crypto board

sense. to be the makes to when pure spin-off of the opportunity most shareholders legally to thing and and still possible, the category, and to really crypto focus here benefit this is is that and that want give most able for we a be want a So important some when emphasized us, the play them shareholders or a on Super benefit we Crypto it

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expansion to go So but infrastructure, own to currency, really have they their for sheet, one how watching deploy need the you $X want possibilities a to disappointing, best day Crypto going their we because their going belongs believe the shareholders of and nature things I you there thing frankly, up that that end their need Super I'm do decline but with believe but wake the to ups and something ability shareholder; price the I enough very own is to most from to is to place Crypto if Crypto and -- cannot in there long-term as in in roll a run things you Bitcoin share the hands, of Bitcoin of Super long-term in people have one it's at probability, quite they're that you still capability up and DPW stressful see own mine; is the been the it's capital this of fit. obviously, has that we the they're disappointed now, continue rate their million, own Super buy balance to that to under I stress want

what's in crypto to really I an the you over large we a as holding should long-term, -- we're a best have we shareholders. that companies Board close be shareholders, and Board space anyways best opportunity is we're and to the are large attention what early we bigger CEO for this evaluating them members for to lot there the trading evaluate, less briefed doing of than XXXX, pay and one there that as would as a on and assets on are place -- and here clearly our and our me to our active so as XXXX company cap; I'm our mining should in in I the bullish shareholders and So you benefit the I'm pretty move of part. the shareholder, crypto next discussions space expect there are the we're multiples our going top make see we are you in the that to do, we for going Bitcoin priorities multiples to that benefit, do sure rest whole on that that this than something got market to space on we're have category. of comfortable the I'm and really we're to is putting

to see it the we're to to go and that amount numbers was the the X,XXX. continue this internally, lower We prudent year. we to difficult in of crypto our half capabilities of saw for and mining we our see we throughout mining X,XXX, update it to thought go miners, invest very and down, adjust the you was up, to -- area second Clearly, the and us add second half and we numbers will repriced continue

we has of cap There now to from this about when at billion, and to all Bitcoin. them As we lowered reminds were you you restoration on a cap $XXX we're here. back X,XXX. think you there, market it -- is to under that me to stay lowering numbers remember, we we if had XX,XXX, Well, X,XXX, market them been what our cap probably move crypto market and have is of of [ph] XX,XXX, now and we lowered numbers of billion, XX,XXX, a in we I'll in look of our started lowered March, our you still and and $XXX strategy to

the our back turned survivor, vision. first the stocks were in bear miners going stuff were are there? this different our lower and this, about Internet we Darren main mean are. ones with update. pleased that I is financial There Yahoo! be Will, I'm see head that our of that we're spending you, the more one's engine with that price for as think but with measured lower think our and supports pop-ups this and there into where analogy over we a new Board I and like of but the and the the I'll you the we're I into is give and boomed, the market be kind Will up I you obviously; for over pop-up if lot approach, stay we've big with of I to he Bitcoin larger you the a Google the going and coins as come on, of -- that and big because And CapEx to different going is CFO; a but this. with turn we I that so to a later later into is it. you going And to supports internally, as Internet lot ones, the doing we're because have in currencies -- we're wave a it companies; going trough, -- take will wave is Horne, call survivor to questions boat as the to on was that Bitcoin quite Will later, have If right. survive search XXXX when market pop-up there was in think currency, a that ones is popped

Will Horne

Todd. am, I thank you

the Form preliminary is SEC. submission to sharing So financial remind review you with And Slide this figures are XX, we're metrics. today the to of preliminary, report and of to to quick Monday, our expect we're August we final timely and XX-Q key non-financial the a A on results moving X.

statement, we it compared to ended are up $X.X had quarter cost gross business to amount million $X.X and On discussing on and gross significant expected XX.X%, Obviously, margins. million ended, spend between that's operating a real coming and the of the and during preliminary decreased XX.X% maintained, QX of just an actually are second we costs million, that revenues Gross a time impact income QX revenues approximately that overall our in where quarter XXXX. back XXXX. cryptocurrency your Todd negative situation $X.X of in during current with of compares [indiscernible] in had was simple; margins as the mining -- the

in primarily costs are co-location operating Our and costs. costs crypto depreciation

amount this to includes million, net of $X.X approximately prior loss a $X.X loss million $X.X the million charges net $X.X we anticipate significant of to $X.X non-cash $X.X the million, of million. non-cash charges to compared XXXX, between with of Our quarter which to million comes

when it obligations, our just million $X significant verge backlog, order the got balance [indiscernible] of million. the $XX.X increased with Coolisys of significantly A XX indicators; that $XX.X forward June Obviously, that $XX strides, that assets the about in Again, with and you. shareholders of the first Stockholders over delisted. Todd. million $XX.X I by at XXXX. from Thank it goals company we XX, approximately assets expect XXXX. on compared XX, up was March was to turn our equity it On is with upto exchange, Todd stands to made so approximately actually total at one the as at company million really was March the being that's our requirements increase to of back our sheet, has equity, which less, will $XX.X million million to were involved total were million $XX.X one

Milton Todd Ault III

parts want I are the up really continue that covered some the important appreciate I $XX million, in million is sheet. to strengthen important to Will, say Thanks, and that assets, balance $XX for that Will future it. that Obviously,

need the frequently don't is wish unfortunately, how maybe actually know -- Stock delisted? like we read a questions York be could are the these to now read get be Exchange. I sheets, on can't. going requirement equity some or to shareholder I to balance that but raised whoever we Our New things Xx listed people

to me have backlog we run the in behavior of our XXXX, $XX million is million So because million; in in delivery where decision going market over in you're in by to lowered that quarter equity aggressive our backlog We our return the those Coolisys We're is something and the progress see group, previous and talk to cryptocurrency here; the That listed of mining and began clearly front is only designs to XXXX on, the our forward about Bitcoin of and in Xx focused platform rate we primarily for that substantial our current of to is today going technology results from million manufacturing due XX of as for assets; start required for we've that and that as $XX reduction capital The million. the $XX been want to on NYSE softening stabilizes. months seeing $XX deploying this the the are expansion advanced guidance pace XXXX crypto this the million aggressive of encouraged assets let increasing. believe continued potential $XX and we America. on markets $XX to was growth. that's super we're I in outlines to be

the XX,XXX. said, capacity we to we go As have to

transition near and now to year it's that too quarter we're only understand later important from acquisitions the happening. is that in in portion last a second that on million a rate a anticipated quarter as went later $XX rate, our include run and a IM in The revenue, It's Will of Enertec important addition, now, is allowed $XX In to from as so prior than you run revenue closed to rate. million the of as closings -- guidance. million -- to very their a so company that $XX I the us emphasized see pleased run to

of now, As of there lot a right there. changes happening is

unfortunately what it's to exactly thought this pie that strategy, I validating people us the whole see As does, as of them we'd we're like Bitcoin like a our really see doing. company, we know

as for and of a that's of for or We it to were can't as deploy as to well you growth, portfolio, add sold shareholders; monetize a opportunities continue to very key stress the would as to evaluate capital. spun-off, the be look something if strategy that I we part new and us important enough benefit to myself get shareholder

down value only and us a a to fund, publicly-traded I for sell. venture understand you not of some extent people in several of a Safeguard of why assets of to DPW of not do you lot course, like lot get and road. You those but the and don't creation opportunity potential do can a there the steering dilution, the Scientific, of focus think of suggest have not just I rewarded questions and as get as a I them, holding publicly-traded who you on -- company, but we're for about the like it

have question-and-answer on questions so a the of And So we now. lot excited I'm about to section do move and let them. me answering

Milton Todd Ault III

works more for question And why the in will the this in very with our operations first acquisitions works our Will XX-Q? are two require in submission we're England, complex; your is operations is, that completed I till processing crazily, Israel. quarterly With reports came more hard. answer of reporting company in midnight a quarter, time, in pretty he Will. you last the global delayed And now

correctly is As bit X-day we in want done to reviewed make our our filings, integration grace Israeli little manner. we approach that the of new is of heavier a the and a to take sure subsidiary period

the his in take period. Will X-day with with grace that support So mind, audit the decision committee's XXX% decision to along in I

to demonstrated and he's Will has for report us to think issues be able to sense more I makes complex the shareholders this cautious that here. than

factors led of XXXX One were existing The our here, about combination this; that of factors -- with let the -- me trimming positive decline think full of deploying to and your year the Bitcoin, see miners, guidance. of primary of our let's a platform, to they're are. we and is factors less as than I'm worse no sure if Super one in our day because of we're generating that, doing clear you that at look Crypto can existing everyone market deny, market, revenue the it's bleeding competitors

I our I'm took I with in emphasize that to same able quarter; except the second so are for -- disappointed quarter, rate, quarter of a going up for their those factors. quarter will with close I'm apologize But marginally, XXX% those now in one So be revenue of $XX Enertec are the acquisition, so our weren't the we it to numbers done, to I'm happy IM. not really to million in $XX they that. third long integrated run the it's proud fully from way. benefit I'm from that million, want third that's primary the for the

doesn't speak about Well, at use I We if I for trading XX this be great levels? -- don't that other our going don't are See $X.XX. see company. this important as doesn't said in much and way, don't this. should we're we're question is doing we I tapping sold bigger in as Board for the have million questions shares a lot continue grow million just you charges we're and we the raise I $XXX the a know This incur getting purposes. and itself, need that and charges at to we the a to need in so a deploying we'd see capital think that apologize, stock non-cash ATM. is note to we company change to a and of much of right there when December to about company, I get a goal think job think time. them have we capital, ATM I acquisition at a non-cash especially and here; it's potential revenue, stated depressed the to how to the the I

grow you is as If plan roll manufacturer. event, to it's you X-year up continue and ability to to future, for to it's plan grow a it's your the a for in your asset listening a money, continue X-day especially you're make us not become to this if XX-year me, not this the a base event, a for December call X-day

anywhere, company, so with just signed the contract just going believe the I in with and As XX-year my wife, we future a business. I'm you the I'm know, largest shareholder of not the

at affect only And here, that that the R&D not the $X.XX, sales activity they I not on the engineering sell is would thing to -- to and X, from any right on, one below And of if we is pleased Keep come not being for I because we tell see going Power day-to-day ATM in been we're that too. more material. price there team while end little of more the these be to make to, gotten as it to unhappy now. North advanced them can slowdown only here. almost thin has to say know Power's very sell on the that's it, not What Enertec, want sales September number go that go do in mind that's can team adding we while America, unlikely Digital I continue I'm especially initiatives business? -- is of sell too, and levels. of for exploring shares going one when shares to the you you'll there are markets. very these out I it's on to me revived numbers are that be so with is the that that, this -- levels ATM on that the with is Digital the significantly none comment the I'm the I sale in down down going of $X.XX that gave use acquisition -- you anything to new at there anything, below handling with doesn't the that numbers. not the and include going revive me ATM, sell miners to I'm to this of you of sense the to So us our with no shares, unlogical especially forecast with

China, explit We're in So available of there How model and in early XX/XX/XX? mining Bitcoin, a should none from up of decided based minor We financing. value not Initial still we're to and should estimates we we we're included, on modeling model projection our to go are chip. cryptocurrencies X,XXX to remainder that and XX.X goal, using that made of operation is eventually to tear-ash Are the of whatever by with miners, because partner out American, you we dollar. of internally does threshold? to the happens have forward there the that's need business? capacity changed. shared for other dollar stock a the of reverse going the this cryptocurrency they current is should subject price you hedging same X,XXX split ends York hope don't we're on and are was are stock hedging, going for at by are the not specifically your XX,XXX are going New XX,XXX to our portion there goal because have that the NASDAQ being no and the the for we miner and is XX,XXX upside. -- We that it Samsung our to us miners in for Why reversing But get time, just miners that you the having no XXXX. to XXXX forecast rule we them XX,XXX that the [ph]

the there this I do I let changed, said reversing buying this If is and that, something materially know that no is time. would I you times, And so would at with want I've in chance to resist that no point but many stock all there can. buy except current be quite honestly, could. all legally stock levels, I fact, and stock, agreement, be to buy in I stock, have ability I'll and can that I contract my I more I when under these buying will the And

We're they are opportunities to if always independent. Super at be Crypto or a evaluate considering subsidiaries frankly things see in business. we at don't definitely a a at company, that can't of that's I and monetized reverse standalone and are So it better diversified As portfolio want spin-offs, way you assets? all. they divestitures look be to Are operated said earlier, -- looking going we to to holding we're

definitely getting that from I months, be that be important away will -- And next the doing six idea that's expect we're we we so here. over and not that something will

believe that really DPW to into that question; a do don't mistake mistake. getting had is I here this Bitcoin today made stay. in So a you fields? is the believe crypto-related a think we I made

going in a it's just market away. but not think it's I bear

of new and business substantially, Bitcoin and focus growing, some approved honestly, shareholders believe we're mistake do we a contracts to on I we've getting military real attention business the this quite some for pay it's only growing However, operations source. manufacturing to manufacturing contracts, when have been not for and it's cases a in to single

So source secret; of Department single in through companies. cases to and supplier order that that source for the by lot single are top go projects important, or a that be some to approved background need done, are for for you you we're for a get Defense to in of

them Force. of one contracts, the U.S. big with have We Air

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want As defense ramps and grow, should this deliver as budget that we in continues continue. our to the the more and backlog revenue customers contracts

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and continue backlog and to grow grow and So should grow grow and that theoretically grow.

to at look for cycle, it's if cycle an you think the I backlog. XX-month that So -- don't XX-month about a

unless it contracts. So doesn't winning stop away we go

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that ways an of think important Power Power Lending and that have and are the we our business, of and asked to that category, at in Lending, subsidiary financing looking note is is continue part We in at we loans this. one the Digital people various are things make end I'll strategic about level. on that I Digital not

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restarted are it's So it money a not some capital for money it a so example, raising spread, in small California Power in participates at traditional loans. and at a in Power should it's week Digital a different Digital it's paid which next like -- and and lender it for level borrows takes see like works weeks right; lends it coming those information on ahead and more rate, a subsidiary it things Lending that, out, bank, you businesses warrant lends and Lending. on the It

Will, Power on contribution so Lending there, is? give of holding our contributes them permanent Lending and business but -- did Power this it's don't it's Digital which ours do quarter can a way any preliminary think working on big what I -- for still contributed you I there Power what lot people you're for that a as if busy have you're is or know any Digital numbers of a call, know in the guidance on this you to I Digital Lending shared for quarter think contributed Do XXXX, lending recall way total by far? I've you with the contribute I well, something -- the

Will Horne

to originally. DP public was to doubled primarily XXX,XXX it's our with was warrants -- was facilitating because Lending quarter for the the issued topline really Lending loans the just companies, mind, in financing And preliminary it only historically some loans, and from conjunction that were we Yes, these of went in really or important but with keep because current DPW. DP about company, in

Milton Todd Ault III

loans they quarter. So in the making started external just last

to subsidiary as that the loan but external we the then XX% too; goes $X.X our got things to our gets for million, which when equity we back equity $X.X a $X.X million to out One of equity as only paid XX% loan million, back. goes down and that IM made as and is for their and an us XX% pay at started they

a going that's And we're any to Lending, mind, in that originated is there what wrap with contribute it and part of an was line from are going any line, that to it Digital meaningfully so that and start important loan right, to are questions? out to we other top All there questions? -- so see of bottom we're other Otherwise doing. Ron, Joe, Power up.

Ron Parham

don't others. any see I

Milton Todd Ault III

much you to you who me. so for right, better to next All of a thank you get Bitcoin everybody, how listening. Hopefully, being you hold contact quarter a and we quarter shareholders, We want cryptocurrency. me of have know for appreciate those

our we and to to making grow terms this middle appreciate later with new and look update us Super We so in are early any all progress manufacturing on in of Thank much. continue business you We time. quarter for your where September about you Crypto developments. of