VANCOUVER, British Columbia, Oct. 28, 2024 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG”), a leading vertically integrated company The company, a blockchain data center technology company, has acquired Reactor.xyz from Navier, Inc. (“Navier”), a prominent provider of custom data center deployments specializing in digital asset mining and artificial intelligence (AI). (“Reactor”).
Reactor is a highly optimized solution for automating and managing hashrate contracts. What is particularly unique about this software, which has several patent applications, is the balancing algorithm that guarantees hashrate delivery. Hashrate contracts allow Bitcoin miners, who would normally sell hashrate directly to a pool, to sell hashrate to buyers willing to pay upfront for a specified period of time. These buyers are often incentivized by discounts compared to what sellers would typically earn in Bitcoin payments during the term of the contract. For sellers, this arrangement provides faster access to payments and serves as a valuable financial management tool, similar to accounts receivable factoring.
Reactor’s key enabling technology ensures that the hashrate transferred from seller to buyer meets contract requirements throughout the contract term. This technology enables highly granular hashrate delivery from 100 TH/s (equivalent to one previous generation Bitcoin mining machine) to over 1 EH/s (equivalent to an industrial mining farm) . Reactor is a proven solution that has been developed and operated over the past several years.
Terra Pool is the ideal platform to significantly expand Reactor’s reach. Terra Pool can provide a large-scale supply of hashrate powered by carbon-neutral energy, giving buyers access to a much larger supply of hashrate than before. Furthermore, DMG believes that a carbon-neutral Bitcoin could come at a premium, and the same benefits could apply to a carbon-neutral hashrate. Terra Pool clients will therefore now be able to choose between mining carbon-neutral Bitcoin or selling carbon-neutral hashrate contracts, providing multiple avenues to benefit from participating in a carbon-neutral pool. will be done.
DMG CEO Sheldon Bennett said: “DMG has made significant progress towards building a holistic, carbon-neutral Bitcoin ecosystem. This month alone, we increased our hashrate by 1.6%. EH/s, an increase of approximately 50% from the previous month, a significant increase.” We plan to upgrade the software behind Terra Pool and make Systemic Trust a fully qualified custodian by the end of the year or early new year. With the purchase of Reactor, we added yet another important component. Reactor provides an ecosystem of unique features. ”
Josh Metnick, CEO of Navier, added: “Reactor is by far the most stable, reliable, and robust hashrate distribution platform in the world. I urge any company in this industry to offer a product that matches Reactor’s performance. ” Our engineers have spent years optimizing Reactor and have experience with numerous customer deployments. DMG has been a trusted partner for the past few years and our acquisition of Reactor’s technology and related IP allows us to efficiently and directly offer carbon neutral hashrate to our buyers without any middlemen. We are excited about the potential and future of this technology in the hands of established self-miners like DMG. ”
About Navier
Since 2014, Navier has ensured customer success through tailored services such as engineering design, project management and joint ventures. Navier’s expertise is in the design, implementation and operation of data centers to ensure scalable and efficient turnkey solutions for projects in the financial technology, artificial intelligence and alternative asset sectors.
About Terra Pool
Terra Pool is the world’s first carbon-neutral Bitcoin mining pool, designed to reward miners with carbon-neutral Bitcoin. It will play a key role in promoting a carbon-neutral Bitcoin ecosystem. Once integrated with Systemic Trust, a digital asset management company subsidiary of DMG, financial institutions and content creators will be able to send Bitcoin in a carbon-neutral and compliant manner.
About Systemic Trust Co., Ltd.
Systemic Trust Company is a special purpose trust company established under the Loans and Trust Companies Act (Alberta). Once STC receives regulatory approval for registration and operations, it will operate as an independent, independently capitalized and carefully managed trust company and qualified custodian, providing digital asset custody services to institutional clients.
About DMG Blockchain Solutions Co., Ltd.
DMG is a sustainable, vertically integrated blockchain and data center technology company that develops, manages, and operates comprehensive platform solutions to monetize the blockchain ecosystem. The company’s business is driven by two strategic pillars: Core and Core+, both of which are unified by DMG’s vertical integration and commitment to environmentally responsible practices. Systemic Trust Corporation, a subsidiary of DMG, focuses on the custody of digital assets.
For more information about DMG blockchain solutions, please visit www.dmgblockchain.com.
Follow @dmgblockchain on Twitter and subscribe to DMG’s YouTube channel.
For more information, please contact us below.
On behalf of the Board of Directors,
Sheldon Bennett, CEO and Director
Phone number: 516-222-2560
Email: investors@dmgblockchain.com
Website: www.dmgblockchain.com
Information for investors:
investor@dmgblockchain.com
Media inquiries:
Chantel Borrelli
Head of Communications
chantelle@dmgblockchain.com
Neither TSX Venture Exchange nor its Regulation Services 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 that are based on current expectations. Forward-looking statements contained in this news release include DMG’s strategy and plans, the potential and benefits of Reactor technology, and the expectations it has for achieving a systemic trust that will become a fully qualified custodian. It includes a timeline for the development of Bitcoin transactions, and a description of the product offering that enables the monetization of Bitcoin transactions. , the development and performance of our products and services, increased self-mining, product and service launches, events, courses of action, the potential of our technology and business, etc. are all forward-looking information.
Future changes in mining difficulty or Bitcoin hashrate across the Bitcoin network could materially impact DMG’s future performance of Bitcoin production, and future performance will depend on Bitcoin price and hashrate. Increased mining difficulty may also have a significant impact.
Forward-looking statements consist of statements that are not purely historical, such as statements regarding beliefs, plans, expectations and intentions regarding the future. Such information generally includes forward-looking words such as “may,” “expects,” “estimates,” “anticipates,” “intends,” “believes,” and “continues”; or its negation, or similar variations. . Readers are cautioned that the assumptions used in preparing forward-looking information may prove to be incorrect. Events and circumstances may cause actual results to differ materially from those anticipated as a result of a number of known and unknown risks, uncertainties and other factors, including market and other factors. are beyond our control, including but not limited to. fluctuations in the trading price of our common stock, business, economic and capital market conditions; our ability to control our operating expenses, which could adversely affect our financial condition; our ability to remain competitive even as other better-funded competitors develop and release competitive products; Regulatory uncertainty. Access to equipment. market conditions and product demand and prices; Bitcoin demand and price. Security threats including loss/theft of DMG Bitcoins. DMG’s relationships with its customers, distributors and business partners; Unable to add more power to DMG facilities. DMG is able to define, design, and release new products that meet customer needs in a timely manner. our ability to attract, retain and motivate talented people; Competition within the industry. The impact of technological change on products and industries. Failure to develop new and innovative products. our ability to adequately maintain and enforce our intellectual property rights and defend against claims of intellectual property infringement by third parties; the impact of intellectual property litigation, which could materially and adversely affect our business; ability to manage working capital; and dependence on key personnel. DMG may not actually achieve its plans, projections or expectations. Such statements and information are based on a number of assumptions regarding our current and future business strategies and the environment in which we will operate in the future, including demand for our products, our ability to successfully develop software, and the absence of regulations and laws. This will interfere with our business operations, anticipated costs, ability to secure sufficient capital to complete our business plans, ability to achieve our goals, and the price of Bitcoin. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. DMG’s securities are considered highly speculative due to the nature of DMG’s business. For more information regarding these and other risks and uncertainties, please refer to the Company’s filings at www.sedarplus.ca. Additionally, 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 the failure to obtain regulatory approvals, the continued availability of capital and financing, equipment failures, equipment and power , lack of infrastructure supply, and inability to obtain permits. including the requirements necessary to operate a business, the impact of technology changes on the industry, the company’s ability to operate, the security of its facilities, the impact of viruses and diseases on the employment of personnel, competition, and Bitcoin stolen from DMG or its customers. security threats, consumer sentiment, failure to develop new and innovative products, litigation, severe weather or climate change, increased operating costs, increased equipment and labor costs, and equipment for DMG’s products, services and blockchain technology generally; failure of Bitcoin, declines in the price of Bitcoin, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees or consultants, general economic, market or business conditions. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Readers are cautioned not to place undue reliance on 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. . Further, we are not obligated to comment on the expectations of third parties or statements made by third parties regarding the matters discussed above.
