DMG Blockchain Solutions Accelerates Growth with New 5-Megawatt Hydro Miner Purchase
DMG Blockchain Solutions announces the purchase of 5-megawatt Bitmain hydro miners for approximately US$5 million, expanding its mining operations. The miners feature 15 J/TH efficiency at $15/TH/s. Installation is planned in phases, with 1 megawatt by December 2024 and 5 megawatts by February 2025. This expansion will increase DMG's hashrate by 0.4 EH/s to reach 2.1 EH/s with 21 J/TH fleet efficiency. The company recently raised $16 million, allocating $7 million for mining equipment. DMG is also considering investments in AI infrastructure and Systemic Trust, its digital asset custody subsidiary.
DMG Blockchain Solutions annuncia l'acquisto di minatori idroelettrici Bitmain da 5 megawatt per circa 5 milioni di dollari, espandendo le proprie operazioni di mining. I minatori presentano un'efficienza di 15 J/TH a 15 $/TH/s. L'installazione è prevista in fasi, con 1 megawatt entro dicembre 2024 e 5 megawatt entro febbraio 2025. Questa espansione aumenterà il hashrate di DMG di 0,4 EH/s, raggiungendo 2,1 EH/s con un'efficienza della flotta di 21 J/TH. L'azienda ha recentemente raccolto 16 milioni di dollari, destinando 7 milioni di dollari all'attrezzatura per il mining. DMG sta inoltre valutando investimenti nelle infrastrutture AI e in Systemic Trust, la sua filiale di custodia di beni digitali.
DMG Blockchain Solutions anuncia la compra de mineros hidroeléctricos Bitmain de 5 megavatios por aproximadamente 5 millones de dólares, expandiendo sus operaciones de minería. Los mineros cuentan con una eficiencia de 15 J/TH a 15 $/TH/s. La instalación está planeada en fases, con 1 megavatio para diciembre de 2024 y 5 megavatios para febrero de 2025. Esta expansión aumentará el hashrate de DMG en 0,4 EH/s para alcanzar 2,1 EH/s con una eficiencia de 21 J/TH en la flota. La empresa recaudó recientemente 16 millones de dólares, asignando 7 millones de dólares para equipos de minería. DMG también está considerando inversiones en infraestructura de IA y Systemic Trust, su subsidiaria de custodia de activos digitales.
DMG 블록체인 솔루션은 약 500만 달러에 5메가와트 비트메인 수력 채굴기를 구매한다고 발표하며 채굴 작업을 확장하고 있습니다. 이 채굴기는 15 J/TH의 효율성을 가지며 15 $/TH/s의 가격을 자랑합니다. 설치는 단계적으로 진행될 예정이며, 2024년 12월까지 1메가와트, 2025년 2월까지 5메가와트를 계획하고 있습니다. 이번 확장은 DMG의 해시레이트를 0.4 EH/s 증가시켜 2.1 EH/s에 도달하여 21 J/TH의 플릿 효율성을 이룰 것입니다. 회사는 최근 1600만 달러를 조달했으며, 그 중 700만 달러를 채굴 장비에 할당했습니다. DMG는 AI 인프라와 디지털 자산 보관 자회사의 Systemic Trust에 대한 투자도 검토하고 있습니다.
DMG Blockchain Solutions annonce l'achat de mineurs hydroélectriques Bitmain de 5 mégawatts pour environ 5 millions de dollars, élargissant ainsi ses opérations minières. Les mineurs affichent une efficacité de 15 J/TH à 15 $/TH/s. L'installation est prévue par phases, avec 1 mégawatt d'ici décembre 2024 et 5 mégawatts d'ici février 2025. Cette expansion augmentera le hashrate de DMG de 0,4 EH/s pour atteindre 2,1 EH/s avec une efficacité de flotte de 21 J/TH. L'entreprise a récemment levé 16 millions de dollars, dont 7 millions de dollars destinés à l'équipement de minage. DMG envisage également des investissements dans l'infrastructure AI et Systemic Trust, sa filiale de garde d'actifs numériques.
DMG Blockchain Solutions kündigt den Kauf von 5-Megawatt Bitmain-Wasserkraftminern für etwa 5 Millionen US-Dollar an und erweitert damit seine Mining-Operationen. Die Miner bieten eine Effizienz von 15 J/TH bei 15 $/TH/s. Die Installation ist in Phasen geplant, mit 1 Megawatt bis Dezember 2024 und 5 Megawatt bis Februar 2025. Diese Expansion wird die Hashrate von DMG um 0,4 EH/s erhöhen und 2,1 EH/s mit einer Flottieneffizienz von 21 J/TH erreichen. Das Unternehmen hat kürzlich 16 Millionen US-Dollar gesammelt und 7 Millionen US-Dollar für Mining-Ausrüstung vorgesehen. DMG erwägt auch Investitionen in KI-Infrastrukturen und Systemic Trust, seine Tochtergesellschaft für digitale Vermögensverwahrung.
- Purchase of efficient hydro miners worth US$5 million to expand operations
- Expected hashrate increase of 0.4 EH/s, reaching total of 2.1 EH/s
- Successful fundraising of $16 million strengthening cash position
- Improved fleet efficiency to 21 J/TH
- Significant capital expenditure of US$5 million affecting cash reserves
VANCOUVER, British Columbia, Nov. 20, 2024 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) ("DMG"), a leading vertically integrated blockchain and data center technology company, announces the expansion of its mining operations with the purchase of Bitmain hydro miners for a total of 5 megawatts of hydro mining containers. These advanced hydro miners, which boast an efficiency of 15 J/TH at a cost of
This latest acquisition builds on the Company’s earlier purchase of 1 megawatt of hydro miners, further enhancing DMG’s operational efficiency and hashrate. The first tranche of 1 megawatt of hydro miners and six 1-megawatt containers is expected to be installed by the end of December 2024 or shortly thereafter. Following this, the newly ordered 5 megawatts of hydro miners are anticipated to be installed by the end of February 2025. Combined, these installations are projected to add 0.4 EH/s to DMG’s hashrate, bringing the Company’s total hashrate to 2.1 EH/s with a fleet efficiency of 21 J/TH early in calendar 2025. The additional hashrate is subject to the receipt, installation and operation of these additional miners.
In addition to expanding its mining operations, DMG is leveraging its recent fundraising success, which added
Sheldon Bennett, CEO of DMG Blockchain Solutions, commented: “With our recent fundraising that added
DMG Management at Industry Conferences
DMG management will attend the 13th Annual ROTH Technology Conference on November 19-20, 2024, in New York, and the North American Blockchain Summit on November 20-21, 2024, in Dallas, Texas.
About ROTH Technology Conference
The 13th Annual ROTH Technology Conference, taking place in New York City on November 19-20, 2024, is a premier event bringing together innovative technology companies and investors. This invitation-only conference focuses on showcasing growth-oriented tech enterprises through one-on-one meetings, group presentations, and networking opportunities.
About North American Blockchain Summit
The North American Blockchain Summit, hosted in Dallas, Texas, from November 20-21, 2024, is a leading conference spotlighting the transformative potential of blockchain technology. Organized by the Texas Blockchain Council, this summit gathers policymakers, industry leaders, and innovators to explore advancements in blockchain adoption across diverse sectors.
About DMG Blockchain Solutions Inc.
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 operations are driven by two strategic pillars: Core and Core+, both unified by DMG’s commitment to vertical integration and environmentally responsible practices. DMG’s subsidiary Systemic Trust Corporation is focused on custody of digital assets.
For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
Follow @dmgblockchain on Twitter and subscribe to DMG's YouTube channel.
For further information, please contact:
On behalf of the Board of Directors,
Sheldon Bennett, CEO & Director
Tel: 516-222-2560
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
For Investor Relations:
investors@dmgblockchain.com
For Media Inquiries:
Chantelle Borrelli
Head of Communications
chantelle@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 or statements based on current expectations. Forward-looking statements contained in this news release include statements regarding presenting at upcoming conferences, DMG’s strategies and plans, the expectation and plan to grow its hashrate, the receipt of additional miners and containers and the expected timelines, the potential purchase of additional miners and bitcoin, the potential and benefits of Systemic Trust, deploying next-generation AI compute infrastructure, delivering products that enable the monetization of bitcoin transactions, developing and executing on the Company’s products and services, increasing self-mining, the launch of products and services, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information.
Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hash rate may 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 difficulty.
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, market and other conditions, volatility in the trading price of the common shares of the Company, 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. For further information concerning these and other risks and uncertainties, refer to the Company’s filings on www.sedarplus.ca. 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, 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 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, litigation, adverse weather or climate events, increase in operating costs, increase in equipment and labor costs, equipment failures, decrease in the price of Bitcoin, 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.
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