VANCOUVER, British Columbia, March 22, 2021 (GLOBE NEWSWIRE) — DMG Blockchain Options Inc. (TSX-V: DMGI) (DMGGF:OTCQB US) (FRANKFURT:6AX) (“DMG” or the “Firm”), a vertically built-in blockchain and cryptocurrency expertise firm, in the present day pronounces the acquisition and rapid operation of two,915 bitcoin ASIC miners, which is a further approximate 200 PH/s, with a risk of two,500 extra ASIC miners from the identical provider (totalling a further 170 PH/s).
As beforehand introduced, DMG is within the technique of retrofitting the primary 30 MW of infrastructure to immersion cooling (which may produce roughly 1.0 EH/s of Bitcoin mining), to be accomplished within the first half of 2021 with one other 30 MW to comply with within the second half-year (totaling 2.0 EH/s).
DMG is at the moment in negotiations with different main Bitcoin mining gear producers for additional buy orders in accordance with its retrofitting efforts, which might permit extra purchases by means of the remainder of 2021 to satisfy the Firm’s hashrate targets.
“DMG’s purpose is to offer thought management to the cryptocurrency business, which is why we’re focussed on methods round vertical integration, governance, compliance, and effectivity; therefore, our concentrate on bodily applied sciences similar to immersion cooling, together with software program applied sciences present in our Blockseer platforms,” stated DMG’s COO, Sheldon Bennett. “DMG has leveraged its long-time business contacts to search out provide in a sizzling market when, together with the two,915 miners we have now secured, we have now a proper of first refusal on a further 2,500 miners from the identical provider.”
As DMG secures additional orders to totally occupy its 85MW flagship facility, the Firm will discover the thought of a number of different Bitcoin mining websites to permit for extra hashrate development in 2022 over and above the beforehand introduced 2021 goal of two.0 EH/s.
Past the expansion of DMG’s cryptocurrency mining footprint, the Firm can be persevering with to develop its software program stack (together with clear block mining on the Blockseer Pool), automated administration of its mining belongings with Blockseer Mine Supervisor, and gear units for AML and KYC in Walletscore. Additional, the Firm seeks to broaden into cryptocurrency transactions and integration with conventional monetary establishments and crypto-focused exchanges.
About DMG Blockchain Options Inc.
DMG is a vertically built-in blockchain and cryptocurrency firm that manages, operates, and develops end-to-end digital options to monetize the blockchain ecosystem. DMG’s companies are segmented into three major divisions: knowledge centre operations, knowledge analytics and forensics and growing enterprise blockchains. DMG’s knowledge centre operations concentrate on incomes revenues from block rewards and transaction charges by mining primarily bitcoin in addition to offering internet hosting companies for industrial mining purchasers. DMG’s knowledge analytics and forensic companies present technical experience software program merchandise similar to Blockseer Pool, Mine Supervisor and Walletscore, in addition to working with auditors, legislation corporations, and legislation enforcement organizations. DMG’s permissioned blockchain expertise is concentrated on growing enterprise software program for the provision chain administration of managed merchandise. DMG’s technique is to develop into the area consultants throughout the enterprise verticals it focuses on. DMG’s administration workforce consists of seasoned crypto consultants, forensic & monetary professionals and blockchain builders with deep relationships all through the business.
Future adjustments within the Bitcoin network-wide mining issue fee or Bitcoin hashrate might materially have an effect on the longer term efficiency of DMG’s manufacturing of Bitcoin, and future operational outcomes is also materially affected by the value of Bitcoin and a rise in hashrate mining issue.
For extra data on DMG Blockchain Options go to: www.dmgblockchain.com
On behalf of the Board of Administrators,
Daniel Reitzik, CEO & Director
For additional data, please contact:
For Media Inquiries:
Jules Abraham, Head of Public Relations
Investor Relations Contact:
CORE IR 516-222-2560
Neither the TSX Enterprise Change nor its Regulation Service Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this information launch.
Cautionary Notice Concerning Ahead-Trying Info
This information launch accommodates forward-looking data or statements primarily based on present expectations. Statements concerning the Firm’s plans for the acquisition of extra Bitcoin miners, plans and objectives to extend petahash (PH) by self-mining, completion of retrofitting of the ability, buying different amenities, value of bitcoin, plans and intentions, different potential transactions, acquisition of shoppers, product growth, occasions, programs of motion, and the potential of the Firm’s expertise and operations, amongst others, are all forward-looking data. Ahead-looking statements encompass statements that aren’t purely historic, together with any statements concerning beliefs, plans, expectations or intentions concerning the longer term. Such data can usually be recognized by means of forwarding wanting wording similar to “might”, “count on”, “estimate”, “anticipate”, “intend”, “consider” and “proceed” or the destructive thereof or comparable variations. The reader is cautioned that assumptions used within the preparation of any forward-looking data might show to be incorrect. Occasions or circumstances might trigger precise outcomes to vary materially from these predicted, because of quite a few identified and unknown dangers, uncertainties, and different components, lots of that are past the management of the Firm, together with however not restricted to, enterprise, financial and capital market circumstances; the flexibility to handle working bills, which can adversely have an effect on the Firm’s monetary situation; the flexibility to stay aggressive as different higher financed rivals develop and launch aggressive merchandise; regulatory uncertainties; entry to gear; market circumstances and the demand and pricing for merchandise; the demand and pricing of bitcoins; safety threats, together with a loss/theft of DMG’s bitcoins; DMG’s relationships with its prospects, distributors and enterprise companions; the lack so as to add extra energy to DMG’s amenities; DMG’s skill to efficiently outline, design and launch new merchandise in a well timed method that meet prospects’ wants; the flexibility to draw, retain and encourage certified personnel; competitors within the business; the affect of expertise adjustments on the merchandise and business; failure to develop new and revolutionary merchandise; the flexibility to efficiently preserve and implement our mental property rights and defend third-party claims of infringement of their mental property rights; the affect of mental property litigation that might materially and adversely have an effect on the enterprise; the flexibility to handle working capital; and the dependence on key personnel. DMG might not really obtain its plans, projections, or expectations. Such statements and data are primarily based on quite a few assumptions concerning current and future enterprise methods and the atmosphere wherein the Firm will function sooner or later, together with the demand for its merchandise, the flexibility to efficiently develop software program, that there will likely be no regulation or legislation that may stop the Firm from working its enterprise, anticipated prices, the flexibility to safe enough capital to finish its enterprise plans, the flexibility to realize objectives and the value of bitcoin. Given these dangers, uncertainties and assumptions, you shouldn’t place undue reliance on these forward-looking statements.
The securities of DMG are thought-about extremely speculative as a result of nature of DMG’s enterprise.
Components that might trigger precise outcomes to vary materially from these in forward-looking statements embody, failure to acquire regulatory approval, the continued availability of capital and financing, gear failures, lack of provide of kit, energy and infrastructure, failure to acquire any permits required to function the enterprise, the affect of expertise adjustments on the business, the affect of Covid-19 or different viruses and ailments on the Firm’s skill to function, safe gear, and rent personnel, competitors, safety threats together with stolen bitcoins from DMG or its prospects, client sentiment in direction of DMG’s merchandise, companies and blockchain expertise usually, lower within the value of Bitcoin and different cryptocurrencies, failure to develop new and revolutionary merchandise, litigation, enhance in working prices, enhance in gear and labor prices, failure of counterparties to carry out their contractual obligations, authorities rules, lack of key staff and consultants, and normal financial, market or enterprise circumstances. Ahead-looking statements contained on this information launch are expressly certified by this cautionary assertion. The reader is cautioned to not place undue reliance on any forward-looking data. The forward-looking statements contained on this information launch are made as of the date of this information launch. Besides as required by legislation, the Firm disclaims any intention and assumes no obligation to replace or revise any forward-looking statements, whether or not because of new data, future occasions or in any other case. Moreover, the Firm undertakes no obligation to touch upon the expectations of, or statements made by third events in respect of the issues mentioned above.