Dmg Blockchain S Stock Price, News & Analysis

DMG Blockchain Solutions will host an update call on April 22, 2021, at 4:30 pm ET, led by CEO Sheldon Bennett. Participants must pre-register to receive the dial-in details. The call will also be accessible via live webcast, and a recorded replay will be available until May 6, 2021. DMG operates a sustainable blockchain ecosystem focused on eco-friendly bitcoin mining, data analytics, and developing enterprise blockchains. However, the company cautions that future performance may be affected by Bitcoin's price and network mining difficulties.

Marathon Digital Holdings and DMG Blockchain Solutions have finalized a licensing agreement to utilize DMG's Blockseer technology for the new Digital Currency Miners of North America (DCMNA) pool, ensuring compliance with U.S. regulations. Marathon plans to direct its entire hashrate, approximately 10.37 EH/s, to this mining pool by Q1 2022. The agreement includes a $500,000 share compensation to DMG, monthly fees based on pool performance, and technical support. Additionally, DMG has undergone executive changes, appointing Sheldon Bennett as CEO and adding Steven Eliscu to its board.

DMG Blockchain Solutions Inc. has announced the immediate purchase and operation of 2,915 bitcoin ASIC miners, adding approximately 200 PH/s to its mining capacity. This follows ongoing efforts to retrofit its facilities to immersion cooling technology, aiming for a total output of 2.0 EH/s by the end of 2021. DMG is also negotiating further purchases to enhance its mining capabilities. The company continues to develop its software solutions, aiming to integrate cryptocurrency transactions with traditional finance.

DMG Blockchain Solutions Inc. has announced a new Bitcoin accumulation strategy to enhance its BTC treasury. The company has purchased approximately 220 BTC through exchanges and OTC trades, with plans to continue acquiring Bitcoin based on market conditions. DMG's COO highlighted the strategy's role in diversifying monetary holdings away from cash, as demand for Bitcoin is expected to rise amid institutional adoption. Over the long term, DMG aims to mine Bitcoin and hold it as a treasury asset, leveraging its blockchain operations for revenue growth.

DMG Blockchain Solutions has engaged CORE IR, a strategic advisory firm, to enhance its investor relations and public communications. The firm will help DMG expand market awareness and effectively communicate its growth strategies over a twelve-month agreement. DMG will pay CORE IR a monthly fee of $15,000 and grant stock options for 200,000 shares at $3.00 CAD each. DMG's COO will participate in the Crypto/Blockchain panel at the 33rd Annual Roth Conference on March 16, discussing the cryptocurrency mining industry.

DMG Blockchain Solutions Inc. (DMGGF) has updated its intellectual property (IP) status, highlighting its patent-pending technologies related to blockchain analytics and compliance. Blockseer, DMG's subsidiary, offers innovative solutions for tracking cryptocurrency transactions. The company emphasizes its first-mover advantage in compliance technologies amid increased institutional interest in Bitcoin. DMG plans to monetize Blockseer’s Pool Technology through licensing and partnerships, enhancing transparency in mining pools, which face regulatory challenges.

DMG Blockchain Solutions, a cryptocurrency technology firm, has signed a Memorandum of Understanding (MOU) with Wyoming-based Ecopwrs LLC to manage Bitcoin mining operations using flare gas in the Permian Basin. This project will initially harness 25 MW of energy, with plans for expansion up to 125 MW. The partnership aims to reduce gas flaring and enhance Bitcoin mining profitability through low-cost energy. DMG will also have the opportunity to acquire a 12.5% equity stake in Ecopwrs. Operations are expected to start generating revenue within 75-120 days of funding.

DMG Blockchain Solutions Inc. has announced updates on its immersion cooling deployment at its cryptocurrency facility, aiming to enhance its mining capacity. By retrofitting 30 megawatts to immersion cooling, DMG expects to increase its bitcoin mining capacity to approximately 1.0 Exahash in the first half of 2021. Discussions are ongoing with manufacturers for a purchase order of 1.0 EH/s of mining equipment. The company aims to further increase capacity to 2.0 Exahash by retrofitting another 30MW. However, delays are anticipated due to COVID-19 affecting equipment availability.

DMG Blockchain Solutions (DMGGF) announced positive advancements in its long-term immersion cooling feasibility study, which is set for large-scale deployment in 2021. This innovative cooling system is expected to enhance hashrate by 30% while reducing power consumption by up to 10%, leading to significant cost savings. DMG's facility at Christina Lake can handle 85MW, with 60MW already installed. The initial phase will retrofit one megawatt incrementally, ensuring minimal operational downtime. Additionally, DMG's COO will participate in Canaccord's Digital Assets Symposium.