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 it has been engaged by a new client to host
2,000 Bitcoin miners. All miners are expected to arrive at DMG’s 85
megawatt (MW) Christina Lake, BC Data Centre this week. DMG plans
to install all 2,000 miners in the coming weeks, managed by DMG’s
Blockseer Mine Management software once deployed.
This shipment consists of S19 Pro miners, which operate at 110
TH/s consuming 3,250 watts of clean (hydroelectric) energy, adding
an additional 220 PH/s to DMG's overall operating hashrate under
management. The Antminer S19 Pro Series is the latest generation of
ASIC miners designed with advanced technology, improving operations
and ensuring long-term operations for future mining.
DMG’s CEO Sheldon Bennett commented, “This hosting agreement, in
combination with DMG’s recent purchase of 2,450 Bitcoin ASIC miners
from this hosting client, is essential to executing DMG’s Core
Infrastructure strategy. DMG is continuing to develop its
relationships with long-term hosting clients through not only
hosting equipment, but also looking for ways to work together on
larger future DMG growth projects to conserve our capital and
decrease deployment time by having ready clients able to deploy
capital quickly on our projects.”
About DMG Blockchain Solutions Inc.
DMG is an environmentally (ESG) 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.
For more information, visit the DMG website here.
Follow @dmgblockchain on Twitter and subscribe to DMG's YouTube
channel.
On behalf of the Board of Directors,
Sheldon Bennett, CEO & Director
Investor Relations: investors@dmgblockchain.com
CORE IR 516-222-2560 Media Inquiries: Jules Abraham CORE
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
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.
This news release contains forward-looking
information or statements based on current expectations.
Forward-looking statements contained in this news release include
statements regarding the expectations of the relationships with
hosting customers and the benefits therefrom, the installation of
these 2,000 Bitcoin miners, the development of its Core strategy,
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.
For further information concerning these and other risks and
uncertainties, refer to the Company’s filings on www.SEDAR.com
including the annual information form for the year ended September
30, 2020, filed on January 28, 2021.
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.
DMG Blockchain Solutions (TSXV:DMGI)
Historical Stock Chart
From Mar 2024 to Apr 2024
DMG Blockchain Solutions (TSXV:DMGI)
Historical Stock Chart
From Apr 2023 to Apr 2024