<SEC-DOCUMENT>0001214659-22-004600.txt : 20220331
<SEC-HEADER>0001214659-22-004600.hdr.sgml : 20220331
<ACCEPTANCE-DATETIME>20220331170039
ACCESSION NUMBER:		0001214659-22-004600
CONFORMED SUBMISSION TYPE:	NT 10-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20211231
FILED AS OF DATE:		20220331
DATE AS OF CHANGE:		20220331
EFFECTIVENESS DATE:		20220331

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BitNile Holdings, Inc.
		CENTRAL INDEX KEY:			0000896493
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC COMPONENTS, NEC [3679]
		IRS NUMBER:				941721931
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NT 10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12711
		FILM NUMBER:		22793830

	BUSINESS ADDRESS:	
		STREET 1:		11411 SOUTHERN HIGHLANDS PARKWAY
		STREET 2:		SUITE 240
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89141
		BUSINESS PHONE:		(949) 444-5464 3679

	MAIL ADDRESS:	
		STREET 1:		11411 SOUTHERN HIGHLANDS PARKWAY
		STREET 2:		SUITE 240
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89141

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Ault Global Holdings, Inc.
		DATE OF NAME CHANGE:	20210119

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DPW Holdings, Inc.
		DATE OF NAME CHANGE:	20171229

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DIGITAL POWER CORP
		DATE OF NAME CHANGE:	19960823
</SEC-HEADER>
<DOCUMENT>
<TYPE>NT 10-K
<SEQUENCE>1
<FILENAME>bn331223nt10k.htm
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt">SECURITIES
AND EXCHANGE COMMISSION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>WASHINGTON, D.C.
20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 18pt">FORM 12b-25</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission File Number: 001-12711</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTIFICATION OF LATE FILING</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&yacute;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 10pt">Form 10-K</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt">Form 20-F</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt">Form 11-K</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt">Form 10-Q</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-family: Wingdings; font-size: 10pt; font-weight: normal">&uml;</FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt; font-weight: normal">Form 10-D</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-family: Wingdings; font-size: 10pt; font-weight: normal">&uml;</FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt; font-weight: normal">Form N-CEN</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-family: Wingdings; font-size: 10pt; font-weight: normal">&uml;</FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt; font-weight: normal">Form N-CSR</FONT></TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For Period Ended: December 31, 2021</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
        <TD STYLE="width: 41%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transition Report on Form 10-K</FONT></TD>
        <TD STYLE="width: 59%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transition Report on Form 11-K</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
        <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transition Report on Form 20-F</FONT></TD>
        <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transition Report on Form 10-Q</FONT></TD></TR>
    </TABLE>
<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For the Transition Period Ended: _______________________________________</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Nothing in this form shall
be construed to imply that the Commission has verified any information contained herein.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">If the notification
relates to a portion of the filing checked above, identify the item(s) to which the notification relates:
_____________________________</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PART I</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRANT INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
        <TD STYLE="width: 41%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Full name of registrant </FONT></TD>
        <TD STYLE="width: 59%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BitNile Holdings, Inc.</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
        <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Address of principal executive office </FONT></TD>
        <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11411 Southern Highlands Parkway, Suite 240</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
        <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">City, state and zip code </FONT></TD>
        <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Las Vegas, NV 89141</FONT></TD></TR>
    </TABLE>
<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PART II</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RULE 12b-25 (b) AND (c)</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If the subject report could
not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25 (b), the following should
be completed. (Check box if appropriate.)</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
        <TD STYLE="width: 10%; font-size: 10pt; text-align: justify">&nbsp;</TD>
        <TD STYLE="width: 90%; padding-left: 26.1pt; font-size: 10pt; text-align: justify; text-indent: -26.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
        <TD>
        <P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#9746;&nbsp;</P></TD>
        <TD STYLE="padding-left: 26.1pt; font-size: 10pt; text-align: justify; text-indent: -26.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The subject annual report, semi-annual report, transition report on Form10-K, Form 20-F, Form11-K, Form
N-CEN or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the
subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed
on or before the fifth calendar day following the prescribed due date; and</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
        <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
        <TD STYLE="padding-left: 26.1pt; font-size: 10pt; text-align: justify; text-indent: -26.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The accountant&rsquo;s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.</FONT></TD></TR>
    </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PART III</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NARRATIVE</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.5in">State below in reasonable detail the reasons
why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed
time period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">The compilation,
dissemination and review of the information required to be presented in the Form 10-K for the fiscal year ended December 31, 2021 has
imposed requirements that have rendered timely filing of the Form 10-K impracticable without undue hardship and expense to the registrant.
</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">Part
IV</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">Other
Information</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Name and telephone number of person to contact in regard to this
notification</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 70%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
        <TD STYLE="text-align: center; width: 27%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Kenneth S. Cragun</U></FONT></TD>
        <TD STYLE="text-align: center; width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>(949)</U></FONT></TD>
        <TD STYLE="text-align: center; width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>444-5464</U></FONT></TD></TR>
    <TR STYLE="vertical-align: top">
        <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name)</FONT></TD>
        <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Area Code)</FONT></TD>
        <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Telephone Number)</FONT></TD></TR>
    </TABLE>
<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(2) Have all other periodic reports required under
Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12
months or for such shorter period that the registrant was required to file such report(s) been filed? If the answer is no, identify report(s).</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.25in">&#9746; <FONT STYLE="font-family: Times New Roman, Times, Serif">Yes&nbsp;&nbsp;&nbsp;&#9744; No</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(3) Is it anticipated that any significant change
in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included
in the subject report or portion thereof?</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.25in">&#9746; <FONT STYLE="font-family: Times New Roman, Times, Serif">Yes&nbsp;&nbsp;&nbsp;&#9744; No</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">If so: attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">The registrant&rsquo;s revenue increased to approximately $52.9
million for the year ended December 31, 2021, representing an increase of $29.0 million compared to approximately $23.9 million for the
year ended December 31, 2020. The registrant&rsquo;s loss from continuing operations was approximately $17.3 million for the year ended
December 31, 2021, an increase of $11.3 million compared to a loss from continuing operations of approximately $6.0 million for the year
ended December 31, 2020.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">The increase in revenue from the year ended December 31, 2020,
was due to an increase in revenue from lending and trading activities of approximately $17.1 million attributed to a significant allocation
of capital from equity financing transactions to the Company&rsquo;s loan and investment portfolio, coupled with an increase in revenue
from the registrant&rsquo;s customized solutions for the military markets, including approximately $6.4 million from Relec Electronics,
which was acquired on November 30, 2020. Further, the Company&rsquo;s cryptocurrency mining operations accounted for $3.5 million of the
overall increase in revenues.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">The registrant&rsquo;s operating expenses increased to approximately
$48.2 million for the year ended December 31, 2021, representing an increase of $34.7 million compared to approximately $13.5 million
for the year ended December 31, 2020.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">The increase in operating expenses from the year ended December
31, 2020, was due to the following:</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman">Engineering and product development expenses increased by approximately
$200,000 due to costs incurred at TurnOnGreen related to the development of the registrant&rsquo;s electric vehicle charger products.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman">Selling and marketing expenses increased approximately $5.9
million as a result of increases in sales and marketing personnel and consultants primarily at Ault Alliance related to digital marketing
and digital learning. The increase is also attributable to costs incurred at TurnOnGreen to grow its selling and marketing infrastructure
related to its electric vehicle charger products.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman">General and administrative expenses increased approximately
$26.1 million mainly due to higher stock compensation, consulting, audit, legal and insurance costs. In addition, general and administrative
costs increased related to the Michigan Data Center, operated by Alliance Cloud Services, which was not in operation during 2020. The
Michigan Data Center was acquired in January 2021 and has since undergone significant renovations to accommodate the Company&rsquo;s cryptocurrency
mining operations and the significant investment the Company has recently made in S19j model Antminers. General and administrative expenses
during the year ended December 31, 2021 include $1.1 million of costs from Relec, which was acquired on November 30, 2020.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">The registrant&rsquo;s net loss available to common stockholders
was approximately $14.0 million for the year ended December 31, 2021, representing an improvement of $18.7 million, compared to a net
loss available to common stockholders of approximately $32.7 million for the year ended December 31, 2020.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>BITNILE HOLDINGS, INC.</B></P>

<P STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Name of Registrant as Specified in Charter)</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Has caused this notification to be signed on its
behalf by the undersigned thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
        <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated: March 31, 2022</FONT></TD>
        <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>/s/ Kenneth S. Cragun&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
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        <TD>&nbsp;</TD>
        <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: Kenneth S. Cragun&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
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        <TD>&nbsp;</TD>
        <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&nbsp;&nbsp;Chief Financial Officer</FONT></TD></TR>
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