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 know-how firm, at this time publicizes the acquisition and quick operation of two,915 bitcoin ASIC miners, which is a further approximate 200 PH/s, with a chance of two,500 extra ASIC miners from the identical provider (totalling a further 170 PH/s).
As beforehand introduced, DMG is within the strategy of retrofitting the primary 30 MW of infrastructure to immersion cooling (which might produce roughly 1.0 EH/s of Bitcoin mining), to be accomplished within the first half of 2021 with one other 30 MW to observe 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 further purchases by the remainder of 2021 to satisfy the Firm’s hashrate targets.
“DMG’s objective is to supply thought management to the cryptocurrency business, which is why we’re focussed on methods round vertical integration, governance, compliance, and effectivity; therefore, our deal with bodily applied sciences reminiscent of 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 seek out provide in a sizzling market when, together with the two,915 miners we now have secured, we now have 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 power 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 important divisions: information centre operations, information analytics and forensics and creating enterprise blockchains. DMG’s information centre operations deal with incomes revenues from block rewards and transaction charges by mining primarily bitcoin in addition to offering internet hosting providers for industrial mining shoppers. DMG’s information analytics and forensic providers present technical experience software program merchandise reminiscent of Blockseer Pool, Mine Supervisor and Walletscore, in addition to working with auditors, regulation companies, and regulation enforcement organizations. DMG’s permissioned blockchain know-how is targeted on creating enterprise software program for the provision chain administration of managed merchandise. DMG’s technique is to change into the area specialists throughout the enterprise verticals it focuses on. DMG’s administration crew consists of seasoned crypto specialists, forensic & monetary professionals and blockchain builders with deep relationships all through the business.
Future modifications within the Bitcoin network-wide mining problem charge or Bitcoin hashrate could materially have an effect on the longer term efficiency of DMG’s manufacturing of Bitcoin, and future operational outcomes may be materially affected by the value of Bitcoin and a rise in hashrate mining problem.
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 duty for the adequacy or accuracy of this information launch.
Cautionary Observe Relating to Ahead-Wanting Info
This information launch incorporates forward-looking data or statements primarily based on present expectations. Statements in regards to the Firm’s plans for the acquisition of further Bitcoin miners, plans and targets to extend petahash (PH) by self-mining, completion of retrofitting of the power, buying different amenities, value of bitcoin, plans and intentions, different potential transactions, acquisition of shoppers, product improvement, occasions, programs of motion, and the potential of the Firm’s know-how and operations, amongst others, are all forward-looking data. Ahead-looking statements encompass statements that aren’t purely historic, together with any statements relating to beliefs, plans, expectations or intentions relating to the longer term. Such data can usually be recognized by means of forwarding trying wording reminiscent of “could”, “anticipate”, “estimate”, “anticipate”, “intend”, “imagine” and “proceed” or the damaging thereof or related variations. The reader is cautioned that assumptions used within the preparation of any forward-looking data could show to be incorrect. Occasions or circumstances could trigger precise outcomes to vary materially from these predicted, because of quite a few recognized and unknown dangers, uncertainties, and different components, a lot of that are past the management of the Firm, together with however not restricted to, enterprise, financial and capital market situations; 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 opponents develop and launch aggressive merchandise; regulatory uncertainties; entry to gear; market situations 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 influence of know-how modifications on the merchandise and business; failure to develop new and revolutionary merchandise; the flexibility to efficiently keep and implement our mental property rights and defend third-party claims of infringement of their mental property rights; the influence 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 could not really obtain its plans, projections, or expectations. Such statements and knowledge are primarily based on quite a few assumptions relating to current and future enterprise methods and the surroundings during which the Firm will function sooner or later, together with the demand for its merchandise, the flexibility to efficiently develop software program, that there will probably be no regulation or regulation that may forestall the Firm from working its enterprise, anticipated prices, the flexibility to safe adequate capital to finish its enterprise plans, the flexibility to realize targets 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 because of the nature of DMG’s enterprise.
Components that might trigger precise outcomes to vary materially from these in forward-looking statements embrace, failure to acquire regulatory approval, the continued availability of capital and financing, gear failures, lack of provide of apparatus, energy and infrastructure, failure to acquire any permits required to function the enterprise, the influence of know-how modifications on the business, the influence 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, shopper sentiment in direction of DMG’s merchandise, providers and blockchain know-how 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 laws, lack of key workers and consultants, and normal financial, market or enterprise situations. 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 regulation, 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.