VANCOUVER, British Columbia, March 22, 2021 (GLOBE NEWSWIRE) – DMG Blockchain Options Inc. (TSX-V: DMGI) (DMGGF: OTCQB US) (FRANKFURT: 6AX) (“DMG“or the”Enterprise”), A vertically built-in blockchain and cryptocurrency expertise firm, right now declares the quick buy and operation of two,915 bitcoin ASIC miners, or roughly 200 further PH / s, with a risk of two,500 ASIC miners further from the identical provider (totaling an extra 170 PH / s).
As beforehand introduced, DMG is within the technique of upgrading the primary 30 MW of immersion cooling infrastructure (which may produce round 1.0 EH / s from Bitcoin mining), which shall be accomplished within the first half of 2021 with 30 MW. further to observe. the second semester (for a complete of two.0 PE / s).
DMG is at the moment in negotiations with different main Bitcoin mining gear makers for additional buy orders consistent with its modernization efforts, which might permit further purchases in the course of the the rest of 2021 to satisfy the hash targets of the society.
“DMG’s aim is to offer thought management to the cryptocurrency business, which is why we deal with vertical integration, governance, compliance and effectivity methods; Due to this fact, we’re specializing in bodily applied sciences corresponding to immersion cooling, in addition to software program applied sciences current on our Blockseer platforms, ”mentioned Sheldon Bennett, COO of DMG. “DMG used its long-standing contacts with business to seek out provide in a heat market when, with the two,915 miners we’ve got secured, we’ve got a proper of first refusal on an extra 2,500 miners within the business. similar provider. “
As DMG secures new orders to totally occupy its flagship 85MW facility, the corporate will discover the thought of a number of extra Bitcoin mining websites to allow additional hashrate development in 2022 past the beforehand introduced 2021 goal of two. , 0 EH / s.
Past the expansion of DMG’s cryptocurrency mining footprint, the corporate additionally continues to develop its software program stack (together with clear block mining on the Blockseer Pool), automated administration of its mining property with Blockseer Mine Supervisor and Instrument Units for AML and KYC in Walletscore. As well as, the corporate is trying 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 enterprise is segmented into three important divisions: Knowledge Heart Operations, Knowledge Analytics and Forensics, and Enterprise Blockchain Growth. DMG’s information middle operations deal with income generated from block rewards and transaction charges by primarily mining bitcoin and offering internet hosting companies to prospects within the mining business. DMG’s information analytics and forensic companies present technical experience software program merchandise corresponding to Blockseer Pool, Mine Supervisor and Walletscore, in addition to collaboration with auditors, legislation corporations and organizations. legislation utility. DMG’s licensed blockchain expertise is targeted on the event of enterprise software program for the provision chain administration of managed merchandise. DMG’s technique is to turn into the area knowledgeable within the verticals on which it focuses. DMG’s administration crew consists of seasoned crypto specialists, forensic and monetary professionals, and blockchain builders with shut relationships throughout the business.
Future modifications within the Bitcoin network-wide mining problem charge or Bitcoin hashing might materially have an effect on the longer term efficiency of Bitcoin manufacturing by DMG, and future working outcomes is also materially affected by the value of the Bitcoin. Bitcoin and a rise within the problem of hashrate mining.
For extra data on DMG Blockchain Options, go to: www.dmgblockchain.com
On behalf of the Board of Administrators,
Daniel Reitzik, CEO and Director
For extra data, please contact:
DMG Blockchain Options Inc.
E-mail: [email protected]
Web site: www.dmgblockchain.com
For media inquiries:
Jules Abraham, public relations supervisor
Investor Relations Contact:
CORE IR 516-222-2560
Neither the TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts accountability for the adequacy or accuracy of this press launch.
Warning relating to forward-looking data
This press launch accommodates forward-looking data or statements based mostly on present expectations. Statements on the corporate’s plans for buying further Bitcoin miners, plans and targets for growing petahash (PH) by way of self-mining, finishing facility modernization, buying further services, bitcoin worth, plans and intentions, different potential transactions, buyer acquisition, product improvement, occasions, motion plans, and the potential of the corporate’s expertise and operations, amongst others, are all forward-looking data. Ahead-looking statements encompass statements which aren’t purely historic, together with statements relating to beliefs, plans, expectations or intentions relating to the longer term. This data can usually be recognized by means of forward-looking phrases corresponding to “might”, “anticipate”, “estimate”, “anticipate”, “intend”, “consider” and “proceed” or their adverse. or comparable variations. The reader is cautioned that the 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 anticipated, as a result of many recognized and unknown dangers, uncertainties and different elements, a lot of that are past the management of the Firm, together with, however not restricted to. ‘restrict, enterprise, and capital market situations; the flexibility to handle working bills, which may adversely have an effect on the monetary situation of the Firm; the flexibility to stay aggressive as different higher funded opponents develop and launch aggressive merchandise; regulatory uncertainties; entry to gear; market situations and product demand and costs; the demand and worth of bitcoin; safety threats, together with loss / theft of DMG bitcoins; DMG’s relationships with its prospects, distributors and enterprise companions; the lack so as to add extra energy to DMG’s services; DMG’s capacity to efficiently outline, design and launch new merchandise in a well timed method that meet buyer wants; the flexibility to draw, retain and encourage certified personnel; competitors in business; the affect of technological change on merchandise and business; the lack to develop new and progressive merchandise; the flexibility to efficiently preserve and implement our mental property rights and to defend claims of third events for infringement of their mental property rights; the affect of mental property litigation that might have a fabric adversarial impact on the enterprise; the flexibility to handle working capital; and dependence on key personnel. DMG might not meet its plans, projections or expectations. These statements and knowledge are based mostly on quite a few assumptions relating to current and future enterprise methods and the atmosphere through which the Firm will function sooner or later, together with the demand for its merchandise, the flexibility to efficiently develop software program, which there shall be no regulation or legislation. this may forestall the corporate from working its enterprise, the anticipated prices, the flexibility to boost enough capital to hold out its enterprise plans, the flexibility to satisfy its objectives and the value of bitcoin. In view of those dangers, uncertainties and assumptions, you shouldn’t place undue reliance on these forward-looking statements.
DMG securities are thought-about extremely speculative because of the nature of DMG’s enterprise.
Elements that might trigger precise outcomes to vary materially from forward-looking statements embody failure to acquire regulatory approval, continued availability of capital and financing, gear failure, lack of provide of kit, electrical energy and infrastructure, the lack to acquire permits. essential to function the enterprise, the affect of technological modifications on the business, the affect of Covid-19 or different viruses and illnesses on the corporate’s capacity to function, safe gear and rent workers , competitors, safety threats together with bitcoins stolen from DMG or its prospects, client sentiment in the direction of DMG’s merchandise, companies and blockchain expertise normally, the falling worth of Bitcoin and different crypto -currencies, failure to develop new and progressive merchandise, litigation, improve in working prices, improve in gear and labor prices, failure of counterparties to carry out their contractual obligations , authorities laws, lack of key staff and c consultants and basic financial, market or enterprise situations. The forward-looking statements contained on this press launch are expressly certified by this cautionary assertion. The reader is cautioned to not place undue reliance on forward-looking data. The forward-looking statements contained on this press launch are made as of the date of this press launch. Besides as required by legislation, the Firm disclaims any intention and assumes no obligation to replace or revise forward-looking statements, whether or not on account of new data, future occasions or in any other case. As well as, the Firm assumes no obligation to touch upon the expectations or statements made by third events with respect to the issues referred to above.