DMG Announces New Miner Purchases – DMG Blockchain Solutions (OTC:DMGGF)
VANCOUVER, British Columbia, April 18, 2023 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. DMGI DMGGF 6AX (“DMG” or the “Company”), a vertically integrated blockchain and cryptocurrency technology company, today announces new acquisitions of miners. These purchases are additive to the previously announced 1 EH/s of Bitcoin miner purchases, all of which have been delivered except for the final tranche of 300 Bitmain S19 XPs (42 PH/s).
The purchases include 350 Bitmain S19 Pro (35 PH/s), 350 Bitmain S19 XP (49 PH/s) and 850 Bitmain S19j Pro+ (104 PH/s) miners, totaling an additional 1,550 units contributing 188 PH/s. 350 Bitmain S19 Pros were a spot deal and have already arrived; the remaining miners will be added to DMG’s Christina Lake data center in the coming months. The company is discussing further purchases with Bitmain and other suppliers. The additional hashrate is subject to the receipt, installation and operation of these additional miners.
Update on delivery of containers
As previously announced, DMG has purchased over 40 megawatts of crypto mining containers. The company is now finalizing the freight logistics. The first containers are expected to arrive in early July 2023 and continue to arrive through September 2023. [NTD: do you have power for these containers and miners? Or do you need to purchase equipment and other items in order to get all the power working?]
DMG Management at Planet MicroCap
DMG reminds investors that the company will present its corporate overview at Planet MicroCap Showcase: VEGAS 2023. The conference will be held April 25-27, 2023 at The Horseshoe Hotel and Casino (formerly Bally’s) in Las Vegas, NV.
Presentation date: 26 April 2023
Time: 9:00 a.m. Pacific Time
Webcast Link: https://www.webcaster4.com/Webcast/Page/2963/48002
DMG will be available for one-on-one meetings at the conference venue. To request a meeting and register for the conference, click here: https://planetmicrocapshowcase.com/signup
In addition, DMG previously announced the repricing of 3,321,076 stock options (“Options”), subject to approval by the TSX Venture Exchange, where the number has been reduced to 3,121,076.
About DMG
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 two business lines under the Core and Core+ strategies and united through DMG’s vertical integration.
Future changes in the Bitcoin network’s mining difficulty or Bitcoin hash rate may materially affect the future performance of DMG’s production of Bitcoin, and future operating results may also be materially affected by the price of Bitcoin and an increase in hash rate mining problems.
For more information about DMG Blockchain Solutions visit: www.dmgblockchain.com
Follow @dmgblockchain on Twitter and subscribe to DMG’s YouTube channel.
For further information, please contact:
DMG Blockchain Solutions Inc.
Email: [email protected]
Internet: www.dmgblockchain.com
Investor Relations Contact:
CORE IR 516-222-2560
For media inquiries:
Jules Abraham
CORE IR
917-885-7378
[email protected]
Neither the TSX Venture Exchange nor its regulatory 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.
Warning regarding forward-looking information
This press release contains forward-looking information or statements based on current expectations. Forward-looking statements in this press release include statements regarding the repricing of stock options, the expectation and plan to increase the hashrate to 1 EH/s and beyond, the receipt of additional miners and containers and expected timelines, the potential purchase of additional miners, the planned monetization of certain product and service offerings, the plans and goals for Terra Pool, development and implementation of the company’s products, services and business plans, launch of products and services, events, courses of action and the potential of the company’s technology and operations, among other things, are all forward-looking information.
Forward-looking statements consist of statements that are not purely historical, including statements of beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forward-looking words such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is warned that assumptions used in the preparation of forward-looking information may turn out to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of a number of known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control, including, but not limited to, the market and other factors. conditions, volatility in the trading price of the Company’s common stock, 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 when other better-funded competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and demand and pricing of products; the demand and pricing of bitcoins; security threats, including loss/theft of DMG’s bitcoins; DMG’s relationship with its customers, distributors and business partners; 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 customer needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technological changes on the products and the industry; inability to develop new and innovative products; the ability to 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. There can be no assurance that DMG will actually achieve its plans, projections or expectations. Such statements and information are based on a number of assumptions about current and future business strategies and the environment in which the company will operate in the future, including the demand for the products, the ability to develop software, that there will be no regulation or law. which will prevent the company from operating its business, expected costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve its goals and the price of bitcoin. Given these risks, uncertainties and assumptions, you should not rely on these forward-looking statements. The securities of DMG are considered highly speculative due to DMG’s operations. For additional information about these and other risks and uncertainties, see the company’s filings at www.SEDAR.com. In addition, DMG’s past financial performance may not be a reliable indicator of future performance.
Factors that could cause actual results to differ materially from those in forward-looking statements include lack of regulatory approval, continued availability of capital and financing, equipment failure, lack of supply of equipment, power and infrastructure, failure to obtain permits necessary 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 sentiments towards DMG’s products, services and blockchain technology in general, lack development of new and innovative products, litigation, adverse weather or climate events, increases in operating costs, increases in equipment and labor costs, decreases in the price of Bitcoin, failure of counterparties to fulfill their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements in this press release are expressly qualified by this cautionary statement. The reader is cautioned not to rely on forward-looking information. The forward-looking statements in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In addition, the company undertakes no obligation to comment on the expectations of or statements from third parties in relation to the matters discussed above.
