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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.
VANCOUVER, British Columbia, March 31, 2021 (GLOBE NEWSWIRE) — After the execution of a memorandum of understanding in early January 2021, Marathon Digital Holdings Inc. (Nasdaq: MARA), (“Marathon”) and DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB-US: DMGGF) (FRANKFURT: 6AX) (“DMG”), a vertically integrated blockchain and cryptocurrency technology company, have entered into a definitive license agreement (the “Agreement”) to provide technology solutions for Marathon and the new Digital Currency Miners of North America (“DCMNA”) pool. Marathon is one of the largest enterprise Bitcoin self-mining companies in North America and will be launching the first North America-based Bitcoin mining pool that is fully compliant with U.S. regulations, including anti-money laundering (AML) and the Office of Foreign Asset Control’s (OFAC’s) standards. Unique features of DMG’s Blockseer pool technology include the ability to filter transactions to ensure AML and OFAC compliance in anticipation of impending US regulations. On a day-to-day basis, DCMNA will manage the pool with DMG providing strategic guidance and/or technical support as needed.
Marathon intends to direct 100% of its hashrate to the new mining pool. Marathon expects all 103,120 of its miners to be deployed by the first quarter of 2022, at which point, the Company will be directing 10.37 EH/s to the mining pool. In June 2021, the pool will begin accepting other U.S.-based Bitcoin mining companies.
Terms of Agreement with Marathon
As part of the Agreement, Marathon will be licensing DMG’s proprietary Blockseer pool technology to be used by the DCMNA entity. Pursuant to the terms and conditions of the Agreement, DMG will receive:
| (a) | USD$500,000 in common shares of Marathon; | |
| (b) | a monthly license fee paid in cash or Bitcoin (at DMG’s election) with a sliding scale based on DCMNA’s block rewards and transaction fees received by the pool; and | |
| (c) | technical support services to be provided on an as-needed basis with payment in US dollars. |
“We are excited to provide our proprietary software tools to the DCMNA pool.. As more U.S.-based Bitcoin mining companies (and their hashrate) join DCMNA, DMG will receive more Bitcoin from licensing our technology,” said DMG’s CEO & COO, Sheldon Bennett.
“While institutional interest in Bitcoin is accelerating, many large funds and corporations have expressed concerns over purchasing Bitcoin that may have been tainted by nefarious actors,” said Merrick Okamoto, Marathon’s chairman and CEO. “Our pools’ initiatives are grounded on decentralization, transparency, legal compliance with U.S. rules and regulations, and independent auditability under U.S. auditing standards. While we appreciate some miners’ appetite for processing transactions indiscriminately, it is our belief that as a publicly listed company based in the United States, and as one focused on enabling more institutional adoption of Bitcoin, it is our responsibility to follow U.S. regulations. We believe that such regulatory compliant mining will allow us to produce ‘clean’ Bitcoin, which will enable a greater number of institutions to gain exposure to this new asset class, ultimately benefiting our organization, our shareholders, and the broader network.”
Okamoto continued, “Currently, more than two-thirds of Bitcoin’s global hashrate is concentrated in pools with little transparency, and most reside in one country. It is our belief that this concentration of hashrate outside of the United States, where central authorities could interfere with mining operations without due process, poses a risk to the network. We believe shifting more mining power to the U.S. could reduce these risks, potentially strengthening the network and benefitting all who participate in it. If all 10.37 EH/s of our potential hashrate were pointed towards this pool today, our mining pool would be the seventh largest bitcoin mining pool in the world, putting North America on the map as a digital-asset mining hub.”
Management/Director Updates
DMG also announces a change in senior management and the addition of a new director.
The Company reports that Daniel Reitzik has resigned from DMG as a director and as the Chief Executive Officer. Mr. Reitzik was one of the founders of DMG, and helped DMG grow from a small company in 2016 to a leading cryptocurrency and blockchain company. The Company thanks Mr. Reitzik for his contribution to DMG and wishes him all the best in his future endeavors.
Sheldon Bennett, also a founder, who leads the day-to-day operations of DMG, has been appointed CEO and will also continue in his position of Chief Operating Officer for the time being. With the appointment to CEO, Mr. Bennett will continue building on his role of developing new business opportunities, partnerships, and continuing to execute on bringing DMG’s products to market.
The Company is also pleased to announce that Steven Eliscu has joined DMG’s board of directors. In adding Mr. Eliscu, DMG gains a board member who will help oversee the Company’s continued transformation, while guiding it to focus on key long-term drivers of valuation. Mr. Eliscu currently works as Head of Finance for DSP Concepts, and he is an experienced Blockchain and technology industry veteran, with experience at Bitfury as well as having advised a number of Blockchain start-ups. Mr. Eliscu is also a former equity research analyst for UBS, having provided investment coverage of the semiconductor industry to institutional investors. Mr. Eliscu has a Bachelor of Science in Computer Engineering from Rensselaer Polytechnic Institute and an MBA from the University of Chicago Booth School of Business. Mr. Eliscu’s experience makes him ideal to chair the Board’s Audit Committee.
The Company also announces that it has granted 200,000 stock options with an exercise price of $2.49 to Mr. Eliscu for a three-year term.
Terra Clean Energy Pool
As previously disclosed on March 26, 2021, DMG and Argo Blockchain Plc will provide further updates on the Terra Pool as developments and progress occurs.
About Marathon Digital Holdings Inc.
Marathon is a digital asset technology company that mines cryptocurrencies, with a focus on the blockchain ecosystem and the generation of digital assets.
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 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.
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, COO & Director
For further information, please contact:
DMG Blockchain Solutions Inc.
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
For Media Inquiries:
Jules Abraham, Head of Public Relations
CORE IR
917-885-7378
julesa@coreir.com
Investor Relations Contact:
CORE IR 516-222-2560
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. Statements about the DCMNA and its expected outcomes, plans and benefits, other Bitcoin mining companies joining the DCMNA Pool, Marathon’s expected hashrate, updates and progress on the Terra Pool, 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 or from the DCMNA, consumer sentiment towards DMG’s products, services and blockchain technology generally, decrease in the price of Bitcoin and other cryptocurrencies, failure of other Bitcoin mining companies to join the DCMNA, 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.
VANCOUVER, British Columbia, March 26, 2021 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG”), a vertically integrated blockchain and cryptocurrency technology company, and Argo Blockchain Plc (LSE: ARB) (“Argo”), a UK-based global cryptocurrency mining company, are pleased to announce Terra Pool (the “Pool”), the world’s first Bitcoin mining pool powered by clean energy. Aligning with the latest climate science, Terra Pool will work to better manage the impact of Bitcoin mining on the climate.
As founding shareholders and partners, DMG and Argo have entered into a Memorandum of Understanding to establish Terra Pool, a cooperative effort to launch a Bitcoin mining pool exclusively powered by clean energy. Initially, the Pool will consist of both DMG’s and Argo’s hashrate, which currently uses energy generated by hydroelectric resources.
“DMG’s increased innovative strength and continued focus on eco-friendly Bitcoin mining has the opportunity to drive transformations in how the Bitcoin mining community acts towards a climate-conscious future,” said DMG CEO Dan Reitzik. “DMG’s ongoing commitment to clean energy-based capital deployment is a key industry development. We believe this is an opportunity for continued growth as we develop a better understanding of climate-friendly operations while simultaneously integrating the newest and most innovative blockchain technologies.”
Terra Pool will provide both a strong incentive and accessible platform for cryptocurrency miners to produce Bitcoin in a sustainable and climate-conscious way with the goal of significantly reducing greenhouse gas emissions over the next decade. In the near-term, Terra Pool will work with like-minded Bitcoin miners to expedite the shift from conventional power to clean energy.
“Addressing climate change is a priority for Argo,” said Argo Blockchain CEO Peter Wall. “Partnering with DMG to create the first ‘green’ Bitcoin mining pool is an important step towards protecting our planet today and for generations to come. We are hopeful other companies within the Bitcoin mining industry follow in our footsteps to demonstrate broader climate consciousness.”
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
Contacts:
North America
Wachsman: argo@wachsman.com
Tel: +1-212-835-2511
Europe
Salamander Davoudi
salamander@tancredigroup.com
Tel: +44 7957 549 906
Emma Valgimigli
emma@tancredigroup.com
Tel: +44 7727 180 873
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.
For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
On behalf of the Board of Directors,
Daniel Reitzik, CEO & Director
For further information, please contact:
DMG Blockchain Solutions Inc.
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
For Media Inquiries:
Jules Abraham, Head of Public Relations
CORE IR
917-885-7378
julesa@coreir.com
Investor Relations Contact:
CORE IR 516-222-2560
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. Statements about the Company’s plans for the establishment of this new Pool and related definitive agreements, expectations, benefits and outcomes of this new Pool, the planned DCMNA, plans and goals to increase petahash (PH) by self-mining in 2021 and beyond, 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 or from this new Pool, 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 other Bitcoin mining companies to join this new Pool, 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.
VANCOUVER, British Columbia, March 26, 2021 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG”), a vertically integrated blockchain and cryptocurrency technology company, and Argo Blockchain Plc (LSE: ARB) (“Argo”), a UK-based global cryptocurrency mining company, are pleased to announce Terra Pool (the “Pool”), the world’s first Bitcoin mining pool powered by clean energy. Aligning with the latest climate science, Terra Pool will work to better manage the impact of Bitcoin mining on the climate.
As founding shareholders and partners, DMG and Argo have entered into a Memorandum of Understanding to establish Terra Pool, a cooperative effort to launch a Bitcoin mining pool exclusively powered by clean energy. Initially, the Pool will consist of both DMG’s and Argo’s hashrate, which currently uses energy generated by hydroelectric resources.
Terra Pool will provide both a strong incentive and accessible platform for cryptocurrency miners to produce Bitcoin in a sustainable and climate-conscious way with the goal of significantly reducing greenhouse gas emissions over the next decade. In the near-term, Terra Pool will work with like-minded Bitcoin miners to expedite the shift from conventional power to clean energy.
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
Contacts:
North America
Wachsman: argo@wachsman.com
Tel: +1-212-835-2511
Europe
Salamander Davoudi
salamander@tancredigroup.com
Tel: +44 7957 549 906
Emma Valgimigli
emma@tancredigroup.com
Tel: +44 7727 180 873
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.
For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
On behalf of the Board of Directors,
Daniel Reitzik, CEO & Director
For further information, please contact:
DMG Blockchain Solutions Inc.
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
For Media Inquiries:
Jules Abraham, Head of Public Relations
CORE IR
917-885-7378
julesa@coreir.com
Investor Relations Contact:
CORE IR 516-222-2560
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. Statements about the Company’s plans for the establishment of this new Pool and related definitive agreements, expectations, benefits and outcomes of this new Pool, the planned DCMNA, plans and goals to increase petahash (PH) by self-mining in 2021 and beyond, 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 or from this new Pool, 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 other Bitcoin mining companies to join this new Pool, 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.
VANCOUVER, British Columbia, March 22, 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 and immediate operation of 2,915 bitcoin ASIC miners, which is an additional approximate 200 PH/s, with a possibility of 2,500 more ASIC miners from the same supplier (totalling an additional 170 PH/s).
As previously announced, DMG is in the process of retrofitting the first 30 MW of infrastructure to immersion cooling (which can produce approximately 1.0 EH/s of Bitcoin mining), to be completed in the first half of 2021 with another 30 MW to follow in the second half-year (totaling 2.0 EH/s).
DMG is currently in negotiations with other leading Bitcoin mining equipment manufacturers for further purchase orders in accordance with its retrofitting efforts, which would allow additional purchases through the rest of 2021 to meet the Company’s hashrate targets.
“DMG’s goal is to provide thought leadership to the cryptocurrency industry, which is why we are focussed on strategies around vertical integration, governance, compliance, and efficiency; hence, our focus on physical technologies such as immersion cooling, along with software technologies found in our Blockseer platforms,” said DMG’s COO, Sheldon Bennett. “DMG has leveraged its long-time industry contacts to find supply in a hot market when, along with the 2,915 miners we have secured, we have a right of first refusal on an additional 2,500 miners from the same supplier.”
As DMG secures further orders to fully occupy its 85MW flagship facility, the Company will explore the idea of multiple other Bitcoin mining sites to allow for additional hashrate growth in 2022 over and above the previously announced 2021 target of 2.0 EH/s.
Beyond the growth of DMG’s cryptocurrency mining footprint, the Company is also continuing to grow its software stack (including clean block mining on the Blockseer Pool), automated management of its mining assets with Blockseer Mine Manager, and tool sets for AML and KYC in Walletscore. Further, the Company seeks to expand into cryptocurrency transactions and integration with traditional financial institutions and crypto-focused exchanges.
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,
Daniel Reitzik, CEO & Director
For further information, please contact:
DMG Blockchain Solutions Inc.
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
For Media Inquiries:
Jules Abraham, Head of Public Relations
CORE IR
917-885-7378
julesa@coreir.com
Investor Relations Contact:
CORE IR 516-222-2560
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.
VANCOUVER, British Columbia, March 18, 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 that its Board of Directors has approved, along with its self-mining, to incorporate a Bitcoin accumulation strategy to significantly increase the Company’s Bitcoin (“BTC”) treasury holdings. After watching for buying opportunities in the market over the last few days and weeks, DMG has started to implement this plan by executing Bitcoin purchases in the amount of roughly 220 BTC since Monday afternoon through customary cryptocurrency exchanges and direct over-the-counter (“OTC”) trades. DMG intends to periodically purchase BTC, based on market conditions, trends and corporate opportunities.
Over the long term, DMG intends to increase its Bitcoin treasury by mining and holding it. In addition, the Company will, from time to time, acquire Bitcoin through a direct investment model such as using funds which are budgeted for later capital deployments. This will allow DMG to use Bitcoin as an ideal store of value, and also as a means to transact, as needed.
“Buying Bitcoin helps to efficiently diversify DMG’s monetary holdings away from cash, and over time we intend to make BTC our treasury currency of choice,” said DMG’s COO, Sheldon Bennett. “We are well connected in this industry and therefore know that many more companies will shortly begin to add Bitcoin to their balance sheets as a hedge against the ongoing dilution and inflation. We believe this will contribute to an even stronger Bitcoin price in the coming weeks and months, from which DMG is positioned to significantly benefit.”
Moving forward, DMG will continue to implement its two-fold business strategy: to grow the corporate blockchain businesses in all of its three divisions (including but not limited to Bitcoin mining and Bitcoin pool management), and to hold newly-mined Bitcoin rewards and acquire additional Bitcoin as a treasury reserve asset, when possible.
“Just as an individual or corporate investor might hold large cash positions, so they might face significant risk of loss of value due to inflation alone. However, that risk doesn’t exist with Bitcoin, which is a deflationary asset by default, with an ever-increasing demand for this superior cryptocurrency. This demand is mainly driven by rapidly growing institutional adoption and an increasingly large demand by retail investors. Coupled with a drastically declining supply of new coins, ultimately, we expect continuously rising Bitcoin prices, which is exactly what we’ve been witnessing in the last few months. We believe Bitcoin has and will continue to have greater value than traditional currencies such as the US dollar,” added DMG’s CEO, Daniel Reitzik.
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,
Daniel Reitzik, CEO & Director
For further information, please contact:
DMG Blockchain Solutions Inc.
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
For Media Inquiries:
Jules Abraham, Head of Public Relations
CORE IR
jabraham@coreir.com
Investor Relations Contact:
CORE IR 516-222-2560
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 purchasing Bitcoin, mining and holding Bitcoin, the expected price of Bitcoin, growing the corporate blockchain businesses, to increase petahash (PH) by self-mining, 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, failure to develop new and innovative products, decrease in the price of Bitcoin and other cryptocurrencies, 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.
VANCOUVER, British Columbia, March 15, 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 that it has retained CORE IR (“CORE IR”), a leading investor relations, public relations and strategic advisory firm, to assist the Company with investor relations, public relations and shareholder communications services. The Company also announces its participation in the Crypto/Blockchain panel on March 16th at 11:00 am ET during the 33rd Annual Roth Conference, which is being held virtually on March 15-17, 2021.
CORE IR will focus on expanding market awareness for DMG and conveying the Company’s business model and growth strategies to the institutional and retail investment communities. CORE IR, a U.S.-based boutique investor and public relations strategic advisory firm, specializes in leveraging the most effective investment, growth, and exposure strategies for small to mid-sized companies through an integrated approach to relationship development and corporate communications.
The marketing and investor relations agreement with CORE IR has an initial term of twelve months from the date of TSX Venture Exchange (“TSXV”) approval and may be renewed by the parties in accordance with the agreement. CORE IR will be paid a monthly fee of US$15,000 and will be granted stock options to acquire up to 200,000 common shares of DMG at a price of CAD$3.00 per share for a period of two years, vesting in stages over a period of 12 months in equal portions every three months, in accordance with the Company’s stock option plan and the policies of the TSXV.
“We are pleased to engage CORE IR’s team of Investor relations, Communications and Strategy professionals to assist DMG raise awareness and engage with the investment community. CORE IR’s experience, capabilities and approach are a great fit for DMG as we continue to execute on our growth initiatives,” said Daniel Reitzik, CEO of DMG.
Scott Gordon, Founder and President of CORE IR commented, “We look forward to assisting DMG accomplish its engagement and communications objectives with the investment community at this exciting time in the Company’s growth trajectory. CORE IR is well suited to employ our expansive resources and capabilities to aid the Company in meeting its goals.”
The engagement of CORE IR remains subject to the approval of the TSXV.
33rd Annual Roth Conference
DMG’s COO, Sheldon Bennett, will be participating in the Crypto/Blockchain panel on Tuesday, March 16, 2021 at 11:00 a.m. Eastern time alongside Marathon Digital Holdings, Inc. (NASDAQ: MARA).
The Crypto/Blockchain panel will explore the cryptocurrency mining industry, including how mining businesses operate and scale, their competitive advantages, their profitability potential, and the overall market opportunity.
About CORE IR
Headquartered in Garden City, New York, CORE IR is comprised of senior market leaders with expertise in institutional and retail investor relations, integrated corporate communications, and capital markets advisory services. CORE IR provides proprietary integrated investor and public relations solutions that yield targeted exposure for small to mid-sized companies. For more information, please visit www.coreir.com.
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.
For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
On behalf of the Board of Directors,
Daniel Reitzik, CEO & Director
For Media Inquiries:
Jules Abraham, Head of Public Relations
CORE IR 917-885-7378
Investor Relations Contact:
Tristan Traywick, Managing Director
CORE IR 516-222-2560
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.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. Statements about the Company retaining CORE IR and the expected outcomes and benefits therefrom, 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, decrease in the price of Bitcoin and other cryptocurrencies, 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, 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.
WWW.BLOCKCAST.CC 