RE:News |
Source: DMG Blockchain Solutions Inc.
Highlights:
- DMG adds 90 petahash towards its stated 2020 year-end goal of 500 petahash of self-mining
- DMG used the previously offered $2M available for financing this new mining equipment
- Once energized, this deployment will increase DMG’s latest mining technology to 110 petahash
VANCOUVER, British Columbia, May 27, 2020 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF:OTC US) (FRANKFURT:6AX) (“DMG” or the “Company”), a diversified blockchain and technology company, is pleased to announce that that it has ordered an additional 1,000 M30s miners.
Successful bitcoin mining relies on both cost and operating efficiencies as well as utilizing the latest available ASIC technology. The Company has more than 240 M30s currently self-mining for DMG and is also hosting an additional 260 M30s for clients. The miners are operating above DMG’s expectations. This purchase was facilitated by the equipment financing previously announced on April 7, 2020, and represents the remaining amount offered to DMG under this non-dilutive financing.
Dan Reitzik, DMG’s CEO commented, “Our stated goal for self-mining in 2020 is 500 petahash of latest ASIC mining technology. This deployment will add approximately 90 petahash to our existing fleet. We will continue to deploy more self-mining as opportunities arise. The new fleet is expected to be energized by mid-June 2020. The recent volatility in Bitcoin (“BTC”) prices demonstrate why industrial miners need to constantly deploy the most efficient technologies. Our newest miners are very efficient, even at the current depressed BTC price.”
Sheldon Bennett, DMG’s COO added, “Having the ability to finance new mining technologies greatly expedites our expansion plans for self-mining. Aggressively adding petahash using equipment financing options is key for our growth strategy.”