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VANCOUVER, British Columbia, April 19, 2021 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF:OTCQB US) (FRANKFURT:6AX) (“DMG” or the “Company”), a vertically integrated blockchain and cryptocurrency technology company, today announces the purchase of 3,600 bitcoin ASIC miners, which is an additional approximate 360 PH/s, increasing DMG’s total hashrate to well over 500 PH/s.
DMG is regularly evaluating and negotiating with leading Bitcoin mining equipment manufacturers for further purchase orders in accordance with its immersion retrofitting schedule, which facilitates additional purchases, as appropriate, to continue to meet the Company‘s 2021 hashrate targets. Delivery of these miners is expected to begin in August 2021 and continue for the next 12 months.
“DMG continues to focus on leading development of the state of the art in cryptocurrency mining, including immersion cooling and Blockseer’s software platforms,” said DMG’s CEO, Sheldon Bennett. “While the hardware market remains extremely active, our established presence in the industry ensures we will continue to secure the appropriate equipment to maximize our business and provide continued optimized value for our shareholders.”
As previously noted, DMG continues to build infrastructure and add equipment in order to fully occupy its 85 MW flagship facility, the Company will explore the possibility of multiple other Bitcoin mining sites to allow for additional hashrate growth leading into 2022.
About DMG Blockchain Solutions Inc.
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.
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.
For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
On behalf of the Board of Directors,
Sheldon Bennett, CEO & Director
For further information, please contact:
DMG Blockchain Solutions Inc.
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
Investor Relations Contact:
CORE IR 516-222-2560
For Media Inquiries:
Jules Abraham, Head of Public Relations
CORE IR
jabraham@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. Statements about the Company’s plans for the acquisition of additional Bitcoin miners, plans and goals to increase petahash (PH) by self-mining, completion of retrofitting of the facility, acquiring other facilities, price of bitcoin, plans and intentions, other potential transactions, acquisition of customers, product development, 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, 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, decrease in the price of Bitcoin and other cryptocurrencies, failure to develop new and innovative products, litigation, increase in operating costs, increase in equipment and labor costs, 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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Tezos could break south from a rising wedge pattern and drop towards $6.18-support once again. FTX Token projected a breakdown from a descending triangle, while SUSHI might drop below $15.8 and towards another region of support at $15.1.
Source: CoinStats
Meanwhile, BTC was trading at $60,449 and has a 24-hour trading volume of $3.9 trillion.
Tezos [XTZ]
Source: XTZ/USD, TradingView
A bounce from the $6.18 support pushed Tezos north on the 4-hour timeframe, but a sharp sloping bottom trendline formed a rising wedge pattern. In fact, a breakdown from the pattern was expected over the coming sessions.
The MACD showed a bearish divergence after which the price dropped towards the $6.18 support. At the time of writing, the signal line gained some ground on the fast-moving line. The RSI continued to move south from the overbought zone and a dip below 40 could point towards additional short-term losses. Support at $6.18 would once again be under the spotlight in case of a breakdown.
FTX Token [FTT]
Source: FTT/USD, TradingView
FTX Token formed a descending triangle after the price made lower highs and steady lows over the past few days. A break below the bottom trendline and the 50-SMA (blue) was expected to cut short at $49.1-support.
The 200-SMA (green), which floated above $43, could also offer some respite in case of an extended downturn but this was unlikely. On the hourly timeframe, the price was actually supported by the 200-SMA, which formed the base of the bottom trendline.
This suggested that the bulls could hold on to $50 for a few more sessions before the breakdown. The Awesome Oscillator fell below the half-mark as momentum was on the sellers’ side. The OBV also steadily declined as some selling was observed in the market.
SushiSwap [SUSHI]
Source: SUSHI/USD, TradingView
A breakout above the $15-mark pushed SushiSwap on the 4-hour chart, but gains were capped at the upper ceiling of $18.3. There was some support available at $15.8 but the on-chain metrics favored the sellers over the short term.
The Squeeze Momentum Indicator showed rising bearish momentum in a low volatile market. Hence, sharp losses were not expected even in case of a breakdown from the press-time support. Meanwhile, the Chaikin Money Flow showed that capital inflows were on a downtrend over the last five days.
The post Tezos, FTX Token, SushiSwap Price Analysis: 17 April appeared first on AMBCrypto.
RADNOR, Pa., April 16, 2021 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP announces that a securities fraud class action lawsuit has been filed in the United States District Court for the Southern District of New York against Ebang International Holdings Inc. (NASDAQ: EBON) (“Ebang”) on behalf of those who purchased or acquired Ebang securities between June 26, 2020 and April 5, 2021, inclusive (the “Class Period”).
Investor Deadline Reminder: Investors who purchased or acquired Ebang securities during the Class Period may, no later than June 7, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; via e-mail at info@ktmc.com; or click https://www.ktmc.com/ebang-international-class-action-lawsuit?utm_source=PR&utm_medium=Link&utm_campaign=ebang
Ebang is a leading application-specific integrated circuit chip design company and a leading manufacturer of Bitcoin mining machines.
According to the complaint, on April 6, 2021, before the market opened, Hindenburg Research published a report alleging, among other things, that Ebang was directing proceeds from its initial public offering last year into a “series of opaque deals with insiders and questionable counterparties.” The report also noted that Ebang’s earlier efforts to go public on the Hong Kong Stock Exchange had failed due to widespread media coverage of a sales inflation scheme with Yindou, a Chinese peer-to-peer online lending platform that defrauded 20,000 retail investors in 2018, with $655 million “vanish[ing] into thin air.” Following this news, Ebang’s share price fell $0.82, or approximately 13%, to close at $5.53 per share on April 6, 2021.
Then, on April 6, 2021, after the market closed, Ebang issued a statement stating that, though it believed the report “contain[ed] many errors, unsupported speculations and inaccurate interpretations of events,” the “Board, together with its Audit Committee, intends to further review and examine the allegations and misinformation therein and will take whatever necessary and appropriate actions may be required to protect the interest of its shareholders.” The stock price continued to decline over the next trading session by $0.38, or 7%, to close at $5.03 per share on April 8, 2021.
The complaint alleges that, throughout the Class Period, the defendants failed to disclose to investors that: (1) the proceeds from Ebang’s public offerings had been directed to low yield, long term bonds to an underwriter and to related parties rather than used to develop Ebang’s operations; (2) Ebang’s sales were declining, and Ebang had inflated reported sales, including through the sale of defective units; (3) Ebang’s attempts to go public in Hong Kong had failed due to allegations of embezzling investor funds and inflated sales figures; (4) Ebang’s purported cryptocurrency exchange was merely the purchase of an out-of-the-box crypto exchange; and (5) as a result of the foregoing, the defendants’ positive statements about Ebang’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Ebang investors may, no later than June 7, 2021, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP, or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(844) 887-9500 (toll free)
info@ktmc.com
The past week saw a lot of growth across the cryptocurrency market, with Bitcoin and Ethereum seeing their values pushed towards new all-time highs. However, it is safe to say that the digital assets market is no longer just about the top two cryptos in the market, with DeFi coins such as YFI registering significant gains on the charts.
Over the past 6 months, YFI has seen its price hike by over 520 percent. Now, while this looks extremely promising for the alt, the truth seems to be in yet another shade of grey. The price hike from over $11k in November 2020 to its press time valuation of $48,415 has been less than straightforward.
Akin to many other altcoins in the market, YFI too has endured extended periods of the price going back and forth. However, given the current market scenario, how sustainable is YFI’s current price or is history going to repeat itself in the form of yet another short-term price correction?
Interestingly, data provided by Santiment highlighted that despite the bullish nature of the YFI market, there may be a bit of FUD finally creeping into the market as the price continues to remain close to the $50k-level. In such a scenario, what YFI really needs is a strong level of support for the price if bearishness is to soon hit the market.
Source: Santiment
Taking a look at a few of the key fundamentals can provide more clarity on where the price is likely to head in the coming weeks. According to data provided by Santiment, YFI’s supply on exchanges has been stagnant for a while and hasn’t been increasing. While fewer coins in exchanges are normally a good sign of hodling, in the case of YFI, if one were to take a look at past precedents, the price decline began as soon as the supply hit a stalemate.
Source: Santiment
Additionally, the analytics platform also pointed out that the current price rally began with low on-chain activity for the coin. However, over the past few weeks, a trend reversal has emerged, with on-chain activity noting a surge and the price continuing to be inversely relational to it.
With the price inching closer to its ATH, there is always the question of price discovery. YFI seemed to be lacking in this regard, at press time. The coin’s MVRV, as per Santiment’s data, placed it in the danger zone and prime for a new trend reversal, one that can induce a short-term price correction.
Source: Santiment
In the coming days, if the price correction does set in, YFI’s $44k-price level may end up being a key support level for the coin. However, if this level is flipped to resistance in the coming weeks, a lot of the upward momentum and price surge YFI saw over the past few months might be undone.
This, once again, will result in YFI’s price continuing its current trend by which the coin will be subject to strong ‘push and pulls’ at regular intervals.
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Google Cloud has joined hands with Band Protocol to integrate its oracles on Google BigQuery, an enterprise data warehouse that powers swift SQL queries. Band Protocol unveiled this news through a blog post on April 15, noting that this integration would help deliver instantaneous and accurate analyses of financial time series data. Reportedly, this is the first of many direct partnerships that seek to let developers create traditional, hybrid blockchain and cloud applications using decentralised oracles.
According to the blog post, both Band Protocol and Google Cloud teams are striving to help developers leverage decentralised oracles for all external data sources and types. Allegedly, Band Protocol oracles have a flexible design that will let developers get the data seamless regardless of whether the applications they work with are blockchain or Web 2-based.
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The publication went on to disclose the roles of each team, noting that Google Cloud will leverage Machine Learning to obtain analytics from financial time series data in real-time. Apart from this, the Google Cloud team will provide a Keras model, which implements an LSTM neural network to detect anomalies in the price feed. On the other hand, Band Protocol will provide the financial data directly from its public dataset through Google BigQuery.
Striving to make a mark in the oracle industry
Allegedly, the data obtained from the auto encoder-decoder can act as a dataset in and of itself. Developers can then use this dataset to support the development of new decentralised oracles through custom oracle scripts of BandChain. In turn, this would help increase the functionalities and offerings that Band Protocol provides.
This system would also grant on-chain smart contracts that run on any Band Oracles-supported blockchain access to pre-trained neural networks and anomaly-detection systems. Through this, the smart contracts would be able to complete multifaceted business logic in a trustless way without having to depend on data from additional external parties.
Commenting on this partnership, Kevin Lu, Band’s Head of Business Development, said,
With Band Protocol oracles fully integrated into Google BigQuery, this is the first of many use-cases we are exploring with partners to bridge traditional enterprises and blockchain applications. Our focus is to continuously and rapidly expand the support of data available on BandChain — pushing the use-cases far beyond just Web 3 alongside many enterprises.
This news comes after Band went live in 2019 as an ERC-20 token. However, the protocol shifted to the Cosmos chain in June last year and has since become one of the biggest competitors to Chainlink, the leading oracle service provider.
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