DMG Blockchain Solutions Achieves SOC 2 Type II Compliance, Purchases First Tranche of Hydro Miners
DMG Blockchain Solutions has achieved SOC 2 Type II compliance, meeting AICPA standards for service organizations. This certification validates DMG's enterprise-level security for customer data in Terra Pool. Additionally, the company has purchased its first tranche of Bitmain S21 Hydro miners at under $15 per TH/s to fill a one-megawatt hydro mining container. These miners, with 16 J/TH efficiency, will produce 63 PH/s and are expected to be installed at the Christina Lake facility by year-end. DMG plans to order miners for the remaining five megawatts of hydro mining capacity in early 2025.
DMG Blockchain Solutions ha ottenuto la conformità SOC 2 Tipo II, rispettando gli standard AICPA per le organizzazioni di servizio. Questa certificazione convalida la sicurezza a livello enterprise dei dati dei clienti in Terra Pool. Inoltre, l'azienda ha acquistato il suo primo lotto di miner Bitmain S21 Hydro a meno di 15 dollari per TH/s per riempire un contenitore per l'estrazione idrica da un megawatt. Questi miner, con un'efficienza di 16 J/TH, produrranno 63 PH/s e dovrebbero essere installati presso l'impianto di Christina Lake entro la fine dell'anno. DMG prevede di ordinare miner per i restanti cinque megawatt di capacità di estrazione idrica all'inizio del 2025.
DMG Blockchain Solutions ha logrado la conformidad con SOC 2 Tipo II, cumpliendo con los estándares de AICPA para organizaciones de servicios. Esta certificación valida la seguridad a nivel empresarial de los datos de los clientes en Terra Pool. Además, la empresa ha adquirido su primer lote de mineros Bitmain S21 Hydro a menos de 15 dólares por TH/s para llenar un contenedor de minería hidroeléctrica de un megavatio. Estos mineros, con una eficiencia de 16 J/TH, producirán 63 PH/s y se espera que se instalen en la instalación de Christina Lake antes de fin de año. DMG planea ordenar mineros para los restantes cinco megavatios de capacidad de minería hidroeléctrica a principios de 2025.
DMG 블록체인 솔루션은 서비스 조직을 위한 AICPA 기준을 충족하여 SOC 2 유형 II 준수를 달성했습니다. 이 인증은 Terra Pool에서 고객 데이터에 대한 DMG의 기업 수준 보안을 검증합니다. 또한, 회사는 1메가와트 수력 채굴 컨테이너를 채우기 위해 Bitmain S21 Hydro 채굴기의 첫 번째 분할을 15달러 이하의 TH/s로 구매했습니다. 이 채굴기는 16 J/TH의 효율성을 가지고 있으며, 63 PH/s를 생산할 것이며, 올해 말까지 크리스티나 호수 시설에 설치될 것으로 예상됩니다. DMG는 2025년 초에 나머지 5메가와트의 수력 채굴 용량을 위한 채굴기를 주문할 계획입니다.
DMG Blockchain Solutions a obtenu la conformité SOC 2 Type II, respectant les normes AICPA pour les organisations de services. Cette certification valide la sécurité de niveau entreprise des données clients dans Terra Pool. De plus, la société a acheté sa première tranche de mineurs Bitmain S21 Hydro à moins de 15 dollars par TH/s pour remplir un conteneur de minage hydroélectrique d'un mégawatt. Ces mineurs, avec une efficacité de 16 J/TH, produiront 63 PH/s et devraient être installés à l'usine de Christina Lake d'ici la fin de l'année. DMG prévoit de commander des mineurs pour les cinq mégawatts restants de capacité de minage hydroélectrique au début de 2025.
DMG Blockchain Solutions hat die SOC 2 Typ II-Konformität erreicht und erfüllt damit die AICPA-Standards für Dienstleistungsorganisationen. Diese Zertifizierung validiert die unternehmensweite Sicherheit der Kundendaten in Terra Pool. Außerdem hat das Unternehmen seinen ersten Tranche von Bitmain S21 Hydro Minern zu Preisen unter 15 USD pro TH/s gekauft, um einen ein Megawatt umfassenden Hydro-Mining-Container zu füllen. Diese Miner, mit einer Effizienz von 16 J/TH, werden 63 PH/s produzieren und sollen bis zum Jahresende im Christina-Lake-Werk installiert werden. DMG plant, zu Beginn des Jahres 2025 Miner für die verbleibenden fünf Megawatt Hydro-Mining-Kapazität zu bestellen.
- Achieved SOC 2 Type II compliance, enhancing credibility with large financial enterprises
- Purchased efficient Bitmain S21 Hydro miners at competitive price below $15 per TH/s
- New miners will add 63 PH/s to mining capacity
- Secured favorable efficiency rate of 16 J/TH for new miners
- Significant capital expenditure required for remaining five megawatts of hydro mining capacity
VANCOUVER, British Columbia, Nov. 11, 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 that it has achieved SOC 2 Type II compliance in accordance with the American Institute of Certified Public Accountants (AICPA) standards for SOC for Service Organizations also known as SSAE 18. This rigorous standard is designed to protect client data by verifying that a service provider’s systems and processes meet the AICPA Trust Services Criteria, giving clients added confidence in the company’s approach to security and regulatory compliance. Achieving this standard with an unqualified opinion serves as third-party industry validation that DMG provides enterprise-level security for customer data secured in DMG’s Terra Pool.
The independent SOC 2 Type II audit, performed by an authorized third-party auditor, provided DMG with a verified compliance attestation, confirming that the company’s security controls and processes meet these stringent requirements. With this attestation, DMG demonstrates its commitment to operational excellence and data security best practices, reflecting the company’s focus on supporting client trust and satisfaction across its services.
DMG’s CEO, Sheldon Bennett commented: “As SOC 2 Type II compliance becomes a requirement for any digital asset company that deals with sensitive customer data, we are proud that when we onboard Terra Pool clients, they can have complete confidence in DMG’s approach to security and regulatory compliance. Virtually all large financial enterprises and public companies prefer working with software platforms that are SOC 2 Type II certified, as their policies on compliance and security normally default to using such vendors; blockchain software is no exception. As security threats are constantly evolving and we continue to upgrade our software infrastructure to support Terra Pool, achieving SOC 2 Type II compliance is a validation of not only the work we have accomplished so far, but also it is part of an ongoing process to continually improve our systems and stay ahead of new security threats to protect customer data in the future.”
DMG Purchases its First Tranche of Bitmain Hydro Miners
DMG has purchased Bitmain S21 Hydro miners for slightly below
About Terra Pool
Terra Pool is the world’s first carbon neutral Bitcoin mining pool, designed to reward miners with carbon neutral bitcoin. It plays a crucial role in advancing a carbon neutral Bitcoin ecosystem. When integrated with DMG’s subsidiary, Systemic Trust, a digital asset custodian, financial institutions and content creators will gain the ability to send Bitcoin in a carbon neutral and regulatory-compliant manner.
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 X, LinkedIn, Facebook and subscribe to DMG's YouTube channel.
For further information, please contact:
On behalf of the Board of Directors,
Sheldon Bennett, CEO & Director
Tel: +1 (778) 300-5406
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 the expected arrival of the S21 Hydro miners in the 2025 calendar year and the expected additional order, receipt and installation of the miners for the remaining five one-megawatt hydro containers in early calendar 2025, DMG’s strategies and plans, the potential and benefits of Terra Pool, 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.
FAQ
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