Dmg Blockchain S - DMGGF STOCK NEWS

DMG Blockchain Solutions (OTCQB: DMGGF) announced several events for April 2023, including its sponsorship of The Nolcha Shows: NFT.NYC on April 12 in Brooklyn, NY, and a presentation at the Planet Microcap Showcase 2023 in Las Vegas on April 26. CEO Sheldon Bennett highlighted DMG's initiatives to monetize Bitcoin transactions via its Terra Pool and Petra technology, aiming to tap into a projected $4.5 billion market for Bitcoin NFTs by 2025. Additionally, DMG granted 1,072,050 stock options to staff, exercisable at $0.32 per share over five years.

DMG Blockchain Solutions has reported preliminary results for February 2023, mining 89.2 bitcoin with a 0.88 EH/s realized hashrate. As of February 28, 2023, DMG's bitcoin balance stands at 435.3 bitcoin. The company expects to receive a final batch of 42 PH/s of Bitmain S19 XPs in April, aiming to grow its hashrate to 1 EH/s. DMG has purchased air-cooled containers that will support over 40 megawatts of mining capacity. Notably, DMG holds no deposits with troubled banks like Silvergate or Silicon Valley Bank. The company plans its Annual General and Special Meeting for May 2023.

DMG Blockchain Solutions (TSX-V: DMGI, OTCQB: DMGGF) reported Q1 2023 financial results, highlighting a revenue of $7.2 million from 274.70 mined bitcoin. This represents a 50% decrease compared to the previous year, driven by a 65% decline in average bitcoin prices. The company faced a net loss of $7.0 million or $0.04 per share, contrasting with a $5.0 million profit last year. Operating costs surged to $4.4 million, primarily due to increased utility expenses. Despite these challenges, DMG maintains a strong balance sheet with $10.9 million in cash and digital assets. Management emphasizes ongoing investments in carbon-neutral technologies.

On February 15, 2023, DMG Blockchain Solutions (OTCQB: DMGGF) announced preliminary operational results for January. The company mined 100.2 bitcoins with a hashrate of 0.91 EH/s, and by January 31, its bitcoin balance was 413.8 BTC. DMG anticipates increasing its hashrate to 1 EH/s in early 2023, contingent on receiving additional miners. The company also launched its Petra platform for enhanced crypto transactions, focusing on ESG goals. CEO Sheldon Bennett testified on February 1 before the Canadian House of Commons to support the Digital Asset Mining Coalition's efforts for tax credits for Bitcoin mining.

DMG Blockchain Solutions Inc. reported its fourth quarter and fiscal year 2022 results, highlighting a significant revenue increase of 323% to $43.2 million, up from $10.2 million the previous year, attributed mainly to expanded bitcoin mining capacity. However, the company experienced a net loss of $17.0 million, worsening from $9.6 million in 2021, with earnings per share at -$0.10. Operating costs surged to $13.0 million, largely due to increased utility expenses. Despite these challenges, DMG maintained a strong cash position of $10.5 million and no debt. The company plans to host a conference call on January 31, 2023, for a detailed review of its performance.

DMG Blockchain Solutions announced its preliminary bitcoin mining results for December 2022, reporting a total of 104.6 bitcoin mined with a hashrate of 0.91 EH/s. As of December 31, 2022, DMG holds 454 bitcoin. The company aims to achieve a full mining capacity of 1 EH/s and plans to introduce immersion cooling technology for improved efficiency. DMG's financial stability is highlighted by its minimal debt of $1 million, with plans for additional modest debt aimed at enhancing its technological infrastructure.

DMG Blockchain Solutions has received a significant shipment of mining equipment from Bitmain, totaling 995 PH/s and aiming for over 1 EH/s capacity early in 2023. Improvements to its Terra Pool software are underway, facilitating carbon-neutral Bitcoin transactions. COO Steven Eliscu purchased 100,000 shares, and 914,800 stock options were granted to employees and directors. The company aims to capitalize on clean energy in Bitcoin mining while navigating regulatory challenges post-FTX fallout.

DMG Blockchain Solutions, a vertically integrated blockchain and cryptocurrency technology company, reported mining results for November 2022, where it mined 88 bitcoin with a hashrate of 0.83 EH/s. As of November 30, DMG holds a total of 389 bitcoin. The company anticipates increasing its hashrate to 1 EH/s by year-end 2022 or early 2023, contingent upon receiving additional miners. DMG will present at the Singular Research Best of the Uncovered Investor Conference on December 8, 2022, at 10:00 am PT.

DMG Blockchain Solutions Inc. (OTCQB: DMGGF) has opened access to the Bosonic Network for Terra Pool members, offering a secure decentralized trading platform. The company raised $1 million through debt financing against a real estate asset, with plans for further financing to upgrade its mining facility. CEO Sheldon Bennett increased his shareholding, buying 500,000 shares, showcasing confidence in DMG's growth. Upcoming investor presentations include participation in several conferences from November 30 to December 8, 2022.