DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF)
(FRANKFURT: 6AX) (“DMG”), a vertically integrated blockchain and
data center technology company, reiterates its technology
leadership position for non-standard Bitcoin transactions, having
been the first to perform the ordinal inscription of a large
digital art collection with 535 DeGods ordinals on February 13,
2023 in Bitcoin block 776508, which was mined by Terra Pool, DMG’s
carbon neutral pool. According to DeGods as posted on X, this was
“the first time in history every transaction in a single Bitcoin
block was constructed for an artistic purpose.”
Recently, Marathon Digital Holdings issued a
press release stating, “Marathon is the first Bitcoin mining
company to offer a direct transaction submission service. Because
it is the only publicly traded Bitcoin mining company that operates
its own mining pool, Marathon is also the only known publicly
traded Bitcoin miner currently capable of offering such services.”
DMG, which is also a publicly traded Bitcoin mining company, has
been offering similar services for over a year, as it has its own
pool, Terra Pool, which is powered by carbon neutral energy.
DMG publicly announced on February 15, 2023 that
it had utilized its Petra technology for performing several
transactions. Subsequently, on March 2, 2023, DMG announced it was
leading the Bitcoin industry having utilized its Petra technology
to be among the first to place carbon neutral large ordinal
transactions (i.e. > 400 kilobytes) onto the Bitcoin
blockchain.
The DeGods collection was only one of a number
of large ordinals inscribed by DMG including:
- February 16, 2023 - Rare Scrilla
Counterparty Dancing Frog (Block 776884, 3.60 megabytes)
- February 23, 2023 - Bitcoin War
Bonds (Block 777945, 3.93 megabytes)
- March 22, 2023 - Bitcoin Magazine
cover (Block 786501, 3.98 megabytes)
DMG’s achievements extend well beyond
inscriptions of large ordinals: DMG supported publishing of Bored
Ape Yacht Club’s “TwelveFold” collection (Block 778772) as posted
on X: “The satoshis that will be used to inscribe TwelveFold were
sourced from a block mined by Terra Pool, a Bitcoin mining pool
exclusively powered by green energy.” DMG also pioneered per
ordinal rights transfer with its Multi-Breeze technology in Block
784173, in which it inscribed a large ordinal collection of 100
sequential art pieces. More recently, DMG has utilized its
technology to inscribe parent-child ordinals ahead of the now de
facto standard (Block 811775) as well as perform a novel method to
incentivize validators of carbon neutral bitcoin transactions
(Block 823323).
DMG’s CEO Sheldon Bennett commented, “DMG has
invested for years to create one of the most comprehensive Bitcoin
network infrastructure and application software suites along with a
robust portfolio of intellectual property. We are proud of what we
have been able to accomplish, and with our continued investments,
we have an opportunity to not only be one of the first to offer new
innovative services but also accelerate decarbonization of the
Bitcoin blockchain.”
About DMG Blockchain Solutions Inc.
DMG is an environmentally friendly vertically
integrated blockchain and data center company that manages,
operates and develops end-to-end digital solutions to monetize the
blockchain ecosystem. DMG’s sustainable businesses are segmented
into two business lines under the Core and Core+ strategies and
unified through DMG’s vertical integration.
For more information on DMG Blockchain Solutions visit:
www.dmgblockchain.comFollow @dmgblockchain on Twitter and subscribe
to DMG's YouTube channel.
For further information, please contact:
On behalf of the Board of
Directors,Sheldon Bennett, CEO &
DirectorTel: 516-222-2560Email:
investors@dmgblockchain.comWeb: www.dmgblockchain.com
Investor Relations ContactCore IR
516-222-2560
For Media InquiriesJules AbrahamCore
IR917-885-7378julesa@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 or statements based on current expectations.
Forward-looking statements contained in this news release include
statements regarding DMG’s strategies and plans, delivering
products that enable the monetization of bitcoin transactions,
developing and executing on the Company’s products and services,
increasing self-mining, the launch of products and services,
events, courses of action, and the potential of the Company’s
technology and operations, among others, are all forward-looking
information.
Future changes in the Bitcoin network-wide
mining difficulty rate or Bitcoin hash rate may materially affect
the future performance of DMG’s production of bitcoin, and future
operating results could also be materially affected by the price of
bitcoin and an increase in hash rate mining difficulty.
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 of the
Company, 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.sedarplus.ca.
In addition, DMG’s past financial performance may not be a reliable
indicator of future performance.
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, adverse
weather or climate events, increase in operating costs, increase in
equipment and labor costs, equipment failures, 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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