The OLB Group, Inc. - OLB STOCK NEWS

The OLB Group (NASDAQ: OLB) sponsored the Museum of American Finance's virtual panel titled “NFTs: Welcome to the Metaverse” on February 15, 2022. The event featured prominent panelists from the blockchain and finance sectors, aimed at supporting education around NFTs and digital assets. OLB is committed to innovating eCommerce solutions, including NFT e-ticketing, currently being developed for sports team clients. The company also offers a range of digital asset services, including Bitcoin mining.

The OLB Group, Inc. (NASDAQ: OLB) is sponsoring a virtual panel titled “NFTs: Welcome to the Metaverse” on February 15, 2022, hosted by the Museum of American Finance. The discussion, moderated by Michael Maloney, will feature industry experts exploring NFTs and digital assets. OLB is dedicated to advancing education about these technologies, reflecting its future-focused business model centered on digital assets. The company plans to introduce NFT e-ticketing solutions for sports teams, enhancing its existing Bitcoin mining and transaction services.

The OLB Group, Inc. (NASDAQ: OLB) reported a record annual revenue run rate of approximately $36 million for 2022, driven by a robust eCommerce merchant services portfolio. The company has achieved a transaction volume run rate of $1.35 billion from 28.5 million transactions, thanks to an acquisition in the CBD sector. This acquisition is expected to add $25 million to revenue and enhance EBITDA by up to $5 million. Furthermore, OLB maintains a debt-free position, providing financial flexibility for future growth.

OLB Group (NASDAQ: OLB) announced that its subsidiary, DMint, will receive 400 additional Antminer S19j PRO Bitcoin mining machines this month. This will bring its total to 1,000 machines, expected to generate approximately $1 million in monthly revenue at a Bitcoin price of $42,000 once fully operational. DMint also plans to expand its mining capacity to 24,000 machines over the next two years. This expansion supports OLB's omnicommerce services, including financing and lending for merchants.

OLB Group, Inc. has announced a long-term lease for a new 10,000 square foot cryptocurrency mining facility in Bradford, Pennsylvania. This facility will accommodate up to 2,000 Antminer S19j PRO machines, enhancing OLB's Bitcoin mining capacity. It will be powered by the local power grid and natural gas, promoting a sustainable operation. The company expects to finance this expansion through debt. The move aims to create a cost-efficient and environmentally friendly mining operation, aligning with OLB's commitment to reducing its carbon footprint.

The OLB Group has announced its acquisition of a portfolio of over 1,500 CBD merchants, aimed at enhancing its market position within the $3 billion CBD sector. This strategic move is projected to boost OLB's annual payment processing revenue by approximately $20 million, leading to a 200% increase compared to 2020's revenue. The deal also includes a new sales channel onboarding around 120 new accounts monthly. The acquisition positions OLB to leverage the growing demand in the CBD market, which is expected to expand at a 21.2% CAGR through 2028.

The OLB Group reported a significant financial performance in Q3 2021, with total revenue rising to $2.82 million, a 22.3% increase from the previous year. Transaction fees accounted for $2.68 million of revenue. However, the company faced increased processing costs of $2.22 million, resulting in a net loss of ($900,354). OLB launched a Bitcoin mining subsidiary, DMint, and raised $6.1 million through capital efforts. The transaction volume for the first nine months reached $668 million with over 10.2 million transactions.

The OLB Group, Inc. (NASDAQ: OLB) has successfully completed a private placement, raising approximately $25 million by issuing 4,545,455 shares of Common Stock and warrants. Each share is priced at $5.50, with warrants exercisable at $6.50 for five years. Proceeds will be used for potential acquisitions, business expansion, and working capital. The Company plans to file a registration statement with the SEC within 15 days to cover the resale of these securities.

The OLB Group (NASDAQ: OLB) announced a private placement deal with institutional investors, issuing 4,545,455 shares of Common Stock at a price of $5.50 per share, aiming for gross proceeds of approximately $25 million. The proceeds are designated for investments in synergistic companies, product expansion, and general corporate needs. Warrants to purchase additional shares at $6.50 are included. The securities are unregistered under the Securities Act and an initial registration statement will be filed with the SEC.