VANCOUVER – DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF:OTCQB US) (FRANKFURT:6AX), a vertically integrated blockchain and cryptocurrency technology company, today reported the purchase of an additional 1,800 bitcoin ASIC miners, which is an additional approximate 180 PH/s, increasing DMG’s total hashrate to well over 680 PH/s.
DMG’s continuing negotiations with leading Bitcoin mining equipment manufacturers has enabled the Company to purchase further equipment for mid-term delivery. Delivery of these miners is expected to begin in August 2021 and continue for the next 12 months.
“As described during the Company’s April 22, 2021 conference call, DMG continues to focus its Core+ strategy by increasing the procurement of newest generation equipment. Along with its Core strategy, DMG will work to transition these miners to immersion cooling to gain further efficiencies in power consumption and increased over all hashrate,” said DMG’s CEO, Sheldon Bennett. “With the addition of these miners, along with our commitment to our Core+ strategy of investing and growing the Blockseer platforms, DMG continues to execute on its vertical integration.”
DMG is a vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG’s businesses are segmented into three main divisions: data centre operations, data analytics and forensics and developing enterprise blockchains. DMG’s data centre operations focus on earning revenues from block rewards and transaction fees by mining primarily bitcoin as well as providing hosting services for industrial mining clients. 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 management team includes seasoned crypto experts, forensic & financial professionals and blockchain developers with deep relationships throughout the industry.
DMG says 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.
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