- BitNile.com launches Nile Coin (NILE) on the Solana blockchain with a $164.5 million market cap.
- 500 billion Nile Coins minted, with 99.8% secured in a smart contract with controlled vesting.
- Nile Coin to be integrated as a payment method on BitNile.com's social gaming platform by June 1, 2025.
Hyperscale Data's (GPUS, Financial) subsidiary, BitNile.com, has officially launched its new cryptocurrency, Nile Coin (NILE), on the Solana blockchain. As of May 8, 2025, the Nile Coin boasts a market capitalization of approximately $164.5 million, with each coin valued at $0.000329. This launch signifies a strategic expansion into blockchain and digital currency markets.
The company minted a finite supply of 500 billion NILE tokens, with a significant portion of 99.8% secured in a Streamflow-audited smart contract. This setup ensures a controlled release of approximately 0.46 billion NILE daily over the next 36 months, aiming to mitigate inflationary pressures and maintain a stable market environment.
BitNile.com initially seeded the liquidity pool with 100 million Nile Coin and 11 SOL on Raydium, a decentralized exchange on the Solana blockchain. To date, approximately 76.6 million coins have been sold, indicating strong initial market interest.
As part of its roadmap, BitNile.com plans to integrate Nile Coin as a payment option on its social gaming platform by June 1, 2025. This integration is expected to create a practical use case for the coin, driving demand through the platform's user base and providing a novel revenue stream for BitNile.com.
The treasury wallet currently holds over 3.2 billion Nile Coins, ensuring ample resources for future developments in the ecosystem. By revoking mint and freeze authorities, the company has further solidified the token supply's integrity, fostering trust in its long-term strategy.
