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Benzinga
Benzinga
Business
Adam Eckert

Why BitNile Shares Are Soaring

NILE (Organization) BitNile AMEX BitNile Holdings Inc

BitNile Holdings Inc (AMEX:NILE) shares are trading significantly higher Monday after the company said its EV charging subsidiary TurnOnGreen will be acquired by BitNile subsidiary Imperalis.

Upon completion of the merger agreement, Imperalis will change its name to TurnOnGreen and have two operating subsidiaries: TOG Technologies and Digital Power Corporation.

BitNile said it expects its shareholders to receive a dividend of securities of TurnOnGreen "in due course."

BitNile Holdings is engaged in Bitcoin (CRYPTO: BTC) mining, data center operations and decentralized finance initiatives. In addition, the company extends credit to select entrepreneurial businesses through a licensed lending subsidiary.

See Also: Bitcoin Gold, Ethereum Classic Shoot For The Moon: Are People On The Hunt For 'Cheaper Alternatives' To The Big 2 Cryptos?

NILE 52-Week Range: $0.50 - $1.76

The stock was up 60.4% trading at 90 cents at press time. 

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