VANCOUVER, British Columbia, Dec. 05, 2022 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB: DMGGF) (FSE: 6AX) (“DMG” or the “Company”), a vertically integrated blockchain and cryptocurrency technology company, announces preliminary mining results in November.
In November 2022, DMG mined 88 bitcoin with 0.83 EH/s realized hashrate. DMG’s bitcoin balance as of November 30, 2022 was 389 bitcoin. Depending on the timing of receiving shipments of ordered miners, DMG expects to increase the hash rate to 1 EH/s by the end of this calendar year or early 2023; this is subject to the receipt, installation and operation of the additional miners.
DMG to present at Singular Research’s Best of the Uncovered
DMG will also present at the annual Singular Research Best of the Uncovered Investor Conference on 8 December 2022 at 10:00am PT in San Francisco at the Hilton SF Financial District. The event will be available via live stream with registration at attendee.gotowebinar.com/register/7491304099855071247. The slides will be available at dmgblockchain.com/corporate-presentation prior to the event.
About Singular Research
Singular Research aims to be the most trusted provider of independent, reliable, single-source research on small-to-microcap companies to small-to-mid-sized hedge fund managers. Singular Research provides quarterly updates for 40 to 70 companies and provides recommendations.
Singular strives to achieve goals by finding undervalued or overvalued securities. Singular’s goal is to provide startup reports and quarterly updates for approximately 40 micro to small companies. In many cases, Singular analysts examine companies not covered by other firms.
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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 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 could materially affect the future performance of DMG’s production of Bitcoin, and future operating results could also be materially affected by the price of Bitcoin and an increase in hash rate mining problems.
For more information about DMG Blockchain Solutions visit: www.dmgblockchain.com
follow @dmgblockchain on Twitter and subscribe to DMG’s YouTube channel.
On behalf of the board,
Sheldon Bennett, CEO and Director
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 enquiries:
Jules Abraham, Communications Manager
CORE IR
(917) 885-7378
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 about the increase in Bitcoin self-mining and the achievement of the target of 1 EH/s, the expected arrival of new miners and increased hash rate once the miners are installed and operational, the launch of products and services, events, courses of action and the potential to 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 and services; the demand and pricing of bitcoin; security threats, including loss/theft of DMG’s bitcoin; 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 regarding current and future business strategies and the environment in which the company will operate in the future, including the demand for its products and services, the ability to develop software successfully, that there will be no regulation. or law that would prevent the company from conducting 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 available capital and financing, equipment failure, lack of supply of equipment, power and infrastructure, adverse weather and climate events. , failure to obtain 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 bitcoin from DMG or its customers, consumers’ feelings towards DMG’s products, services and blockchain technology in general, failure to develop new and innovative products, litigation, increases in operating costs, increases in equipment and labor costs, decreases in the price of Bitcoin, failure of counterparties to fulfill their contractual obligations, public 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.
