BitNile rallies 15% on reporting significant revenue surge, asset growth

BitNile (NYSE:NILE) reported 2021 year end revenue saw a 120% growth to $52M with lending and trading activities revenue at $16.9M (compared to $242K in prior year) due to allocation of capital to Digital Power Lending. Revenue generated by cryptocurrency mining stood at $3.5M as the company resumed cryptocurrency mining operations during 2021. GWW revenues increased by 40% to $25.6M. Gross margins increased to 54.5% from 31.5% compared to the typically ranging between 33% and 37% with slight variations depending on the overall composition of its revenue. Net loss narrowed down to $24.2M from net loss of $32.7M in prior year. As of Dec.31, 2021, cash of $15.9M, marketable securities of $40.4M, digital currencies of $2.2M and other investments of $84.9M. Total assets stood at $490.3M which indicated a 548% compared to prior year. "During 2021, we were able to make significant investments in our subsidiary BitNile investing $86M in Bitcoin mining equipment and upgrades