VANCOUVER, British Columbia, October 4, 2024 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG”), a leading vertically integrated company The blockchain data center technology company announces preliminary Bitcoin operational results for September 2024.
Bitcoin Mined: 23 BTCH Shrate: 1.1 EH/s Bitcoin Holdings: 436 BTCHosting Update: DMG moves approximately 0.15 EH/s of its mining fleet to a Canadian third-party hosting provider for operational flexibility is in the process of further strengthening.
As of the end of September, DMG has successfully activated and fully integrated the Bitmain T21 mining fleet into its operations. This activation marks a significant milestone in DMG’s continued efforts to expand its mining infrastructure. Including externally hosted miners, DMG’s current operating hashrate is approximately 1.6 EH/s. The company is also focused on fleet optimization and is on track to achieve its short-term goal of 1.7 EH/s. These measures are part of DMG’s broader strategy to maximize operational efficiency while enhancing Bitcoin production.
Sheldon Bennett, CEO of DMG commented: The decision to move part of your fleet to a third-party hosting provider not only enhances operational agility, but also allows you to more effectively manage your resources while pursuing optimal revenue. We continue to focus on improving the performance of our fleet, with a current hashrate of 1.6 EH/s and a position to reach our goal of 1.7 EH/s in the near future. As always, our priority is to deliver long-term value to our shareholders through strategic execution and continued innovation. ”
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.
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: 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, but are not limited to, the anticipated increases in DMG’s hashrate, the transition of a portion of DMG’s miner fleet to third-party hosting providers, and the anticipated benefits and results of DMG’s ‘s strategies and plans, including, among other things, monetizing Bitcoin transactions, developing and implementing our products and services, increasing self-mining, product and service launches, events, courses of action, and the potential of our technology and business. It’s all positive. I’m looking for 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. including but not limited to, are beyond our control. fluctuations in the trading price of our common stock, business, economic and capital market conditions; our ability to control 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, a decline in the price of Bitcoin, loss of contractual obligations, government regulations, key employees, directors, officers and consultants, and 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.
