OLB Group Inc Stock Price, News & Analysis

The OLB Group reported a significant increase in annual revenue for 2021, rising to $16.71M from $9.77M, marking a 71.1% growth. The company's merchant processing transaction volume achieved an annualized run rate of $1.35B, with approximately 28.5 million transactions recorded. However, the company also faced challenges, including a net loss of $4.98M, up from $1.78M in 2020, primarily due to increased operational costs in its new Cryptocurrency Business segment.

The OLB Group, a FinTech company specializing in payment solutions, will release its financial results for Q4 and full year 2021 on March 28, 2022. The results will be discussed during a conference call at 4:15 p.m. Eastern time the same day. Key topics include the impact of a recent acquisition of a CBD-related merchant portfolio, updates on its cryptocurrency mining efforts in Bradford, PA, and the acquisition of Crowd Ignition to enhance crowdfunding services. Interested parties can register for the call via provided links.

The OLB Group (NASDAQ: OLB) will release its fourth quarter and full year 2021 financial results on March 28, 2022, after market close. Management will host a conference call at 4:15 p.m. ET to discuss these results and address investor queries. Key topics include the impact of acquiring a CBD-related merchant portfolio, updates on the DMint cryptocurrency segment, and the acquisition of Crowd Ignition for crowdfunding expansion. Interested parties can pre-register for the call via a provided link.

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.