DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB: DMGGF) (FSE:
6AX) (“DMG” or the “Company”) a publicly traded, vertically
integrated blockchain and cryptocurrency technology company,
announces today that Terra Pool, a clean Bitcoin mining pool
partnership between DMG and Argo Blockchain plc (LSE: ARB.L) has
joined the Crypto Climate Accord (CCA) to accelerate digital
solutions that decarbonize the crypto mining and blockchain sector
as a whole. DMG, along with Argo, are the first two signatories of
the CCA.
Together with a fast-growing community, Terra Pool joins the CCA
as an active supporter by informing and testing new open-source
Hashrate software now in development that will make it obvious for
bitcoin miners to verify their renewable energy sourcing. CCA
supporters like Terra Pool approve of the Accord’s objectives and
are involved with helping advise, develop, and scale solutions in
support of the CCA.
“DMG is committed to continued support of the Crypto Climate
Accord with the introduction of Terra Pool,” stated Sheldon
Bennett, CEO of DMG. “Additionally, using DMG’s proprietary data
centre management software, which is specifically designed for
crypto miners as well as working with EnergyWeb, the CCA’s
technology partner, jointly we can scale faster and bring technical
energy solutions to the industry combining industrial power
tracking and bitcoin miner consumption.”
“We at Energy Web are excited to work together with Terra Pool
and DMG’s software team to build green Hashrate software that
bitcoin mining pools like Terra Pool can use for its KYC process
and ongoing monitoring of miners in the pool,” said Jesse Morris,
CEO of Energy Web. “Together, we can set a new digital standard for
ESG transparency for other sectors to follow.”
DMG will be discussing Terra Pool at the Unlocking Blockchain
Adoption Mining Disrupt Conference in Miami, Florida on July 20-21,
2021. Please visit the Company’s booth (#63) during the event.
About Terra Pool
Terra Pool is the world’s first Bitcoin mining pool powered
exclusively by clean energy. The purpose of this initiative is to
expedite the shift from conventional power to clean energy and
reduce the impact of Bitcoin mining on the environment.
Sustainable Mining DMG’s goal is to eliminate
significant greenhouse gas emissions over the next decade. DMG’s
leadership in Terra Pool intends to work with like-minded Bitcoin
miners to expedite the shift from conventional power to clean
energy.
Transparency on Energy ConsumptionTerra Pool
will offer better transparency and will bring change to the crypto
mining sector, creating a strong incentive and platform for crypto
miners to produce Bitcoin in a climate-conscious way.
About the CCA
In an effort to decarbonize the global crypto industry by
prioritizing climate stewardship and creating the opportunity for
the entire crypto industry's transition to net-zero greenhouse gas
emissions by 2040, the CCA has outlined the following
objectives:
- Achieve net-zero emissions from
electricity consumption for CCA signatories by 2030;
- Develop standards, tools and
technologies with CCA supporters to accelerate the adoption of and
verify progress toward 100 per cent renewably powered blockchains
by the 2025 UNFCCC (United Nations Framework Convention on Climate
Change) COP30 conference.
About Energy Web
Energy Web (EW) is a global nonprofit organization accelerating
a low-carbon, customer-centric electricity system by unleashing the
potential of open-source, decentralized technologies. EW focuses on
building core infrastructure and shared technology, speeding
adoption of commercial solutions, and fostering a community of
practice. Energy Web's software product, Energy Web Chain, is the
world's first open-source enterprise blockchain platform tailored
to the energy sector.
About Argo Blockchain Plc
Argo Blockchain plc is a global leader in cryptocurrency mining
with one of the largest and most efficient operations powered by
clean energy. The Company is headquartered in London, UK and its
shares are listed on the Main Market of the London Stock Exchange
under the ticker: ARB and on the OTCQX Best Market in the United
States under the ticker: ARBKF.
For more information on Argo Blockchain visit:
www.argoblockchain.com
About DMG Blockchain Solutions Inc.
DMG is an environmentally friendly vertically integrated
blockchain and cryptocurrency company that manages, operates, and
develops end-to-end digital solutions to monetize the blockchain
ecosystem. DMG’s sustainable businesses are segmented into three
main divisions: data centre operations, data analytics and
forensics and developing enterprise blockchains. DMG’s
non-polluting data centre operations focus on earning eco-friendly
revenues from block rewards and transaction fees by mining
primarily bitcoin as well as providing hosting services for
industrial mining clients entirely powered by renewable energy.
DMG’s data analytics and forensic services provide technical
expertise software products such as Blockseer Pool, Mine Manager
and Walletscore, as well as working with auditors, law firms, and
law enforcement organizations. DMG’s permissioned blockchain
technology is focused on developing enterprise software for the
supply chain management of controlled products. DMG’s strategy is
to become the domain experts across the business verticals it
focuses on. DMG’s environmentally committed management team
includes seasoned crypto experts, forensic & financial
professionals and blockchain developers with deep relationships
throughout the industry and a strong ecological consciousness.
Future changes in the Bitcoin network-wide mining difficulty
rate or Bitcoin hashrate may materially affect the future
performance of DMG’s production of Bitcoin, and future operational
results could also be materially affected by the price of Bitcoin
and an increase in hashrate mining difficulty.
On behalf of the Board of Directors,Sheldon Bennett, CEO &
Director
For further information, please contact:Email:
investors@dmgblockchain.comWeb: www.dmgblockchain.com
Investor Relations:CORE IR 516-222-2560
For Media Inquiries:Jules Abraham, Head of Public RelationsCORE
IRjabraham@coreir.com
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information based on
current expectations. Forward-looking statements contained in this
news release include statements regarding Terra Pool and the
expected outcomes and benefits, the ability to enter the market
sooner than anticipated with certain products and services, events,
courses of action, and the potential of the Company’s technology
and operations, among others, are all forward-looking information.
Forward-looking statements consist of statements that are not
purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future. Such
information can generally be identified by the use of forwarding
looking wording such as "may", "expect", "estimate", "anticipate",
"intend", "believe" and "continue" or the negative thereof or
similar variations. The reader is cautioned that assumptions used
in the preparation of any forward-looking information may prove to
be incorrect. Events or circumstances may cause actual results to
differ materially from those predicted, as a result of numerous
known and unknown risks, uncertainties, and other factors, many of
which are beyond the control of the Company, including but not
limited to, market and other conditions, volatility in the trading
price of the Common Shares, business, economic and capital market
conditions; the ability to manage operating expenses, which may
adversely affect the Company's financial condition; the ability to
remain competitive as other better financed competitors develop and
release competitive products; regulatory uncertainties; access to
equipment; market conditions and the demand and pricing for
products; the demand and pricing of bitcoins; security threats,
including a loss/theft of DMG's bitcoins; DMG's relationships with
its customers, distributors and business partners; the inability to
add more power to DMG's facilities; DMG's ability to successfully
define, design and release new products in a timely manner that
meet customers' needs; the ability to attract, retain and motivate
qualified personnel; competition in the industry; the impact of
technology changes on the products and industry; failure to develop
new and innovative products; the ability to successfully maintain
and enforce our intellectual property rights and defend third-party
claims of infringement of their intellectual property rights; the
impact of intellectual property litigation that could materially
and adversely affect the business; the ability to manage working
capital; and the dependence on key personnel. DMG may not actually
achieve its plans, projections, or expectations. Such statements
and information are based on numerous assumptions regarding present
and future business strategies and the environment in which the
Company will operate in the future, including the demand for its
products, the ability to successfully develop software, that there
will be no regulation or law that will prevent the Company from
operating its business, anticipated costs, the ability to secure
sufficient capital to complete its business plans, the ability to
achieve goals and the price of bitcoin. Given these risks,
uncertainties and assumptions, you should not place undue reliance
on these forward-looking statements.
The securities of DMG are considered highly speculative due to
the nature of DMG's business.
Factors that could cause actual results to differ materially
from those in forward-looking statements include, failure to obtain
regulatory approval, the continued availability of capital and
financing, equipment failures, lack of supply of equipment, power
and infrastructure, failure to obtain any permits required to
operate the business, the impact of technology changes on the
industry, the impact of Covid-19 or other viruses and diseases on
the Company's ability to operate, secure equipment, and hire
personnel, competition, security threats including stolen bitcoins
from DMG or its customers, consumer sentiment towards DMG's
products, services and blockchain technology generally, failure to
develop new and innovative products, litigation, increase in
operating costs, increase in equipment and labor costs, decrease in
the price of Bitcoin, failure of counterparties to perform their
contractual obligations, government regulations, loss of key
employees and consultants, and general economic, market or business
conditions. Forward-looking statements contained in this news
release are expressly qualified by this cautionary statement. The
reader is cautioned not to place undue reliance on any
forward-looking information. The forward-looking statements
contained in this news release are made as of the date of this news
release. Except as required by law, the Company disclaims any
intention and assumes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Additionally, the Company undertakes no
obligation to comment on the expectations of, or statements made by
third parties in respect of the matters discussed above.
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