OLB Group Inc Stock Price, News & Analysis

The OLB Group (NASDAQ: OLB), a provider of omnicommerce solutions, announced that CEO Ronny Yakov will present on blockchain and cryptocurrency at the H.C. Wainwright 23rd Annual Global Investment Conference from September 13-15. His session, titled “Cryptocurrency, Blockchain, & Fintech Applications,” is scheduled for September 13 at 7:00 a.m. Eastern. The OLB Group focuses on empowering merchants with advanced fintech solutions to enhance profitability and customer satisfaction through innovative technologies.

The OLB Group (NASDAQ: OLB) announced that its subsidiary, DMint, will launch cryptocurrency data centers in mid-September 2021. The initial setup of 1,000 miners in Bradford, PA, is projected to generate approximately $3M in revenue for Q4 2021. The data centers will operate with a net-zero carbon footprint, utilizing clean gas energy. DMint aims to scale up to 24,000 miners over the next 24 months, enhancing OLB's capacity in cryptocurrency commerce.

The OLB Group, Inc. (NASDAQ: OLB) has entered into agreements for a registered direct offering of 1,418,605 shares at $4.30 each, totaling approximately $6.1 million in gross proceeds. The offering is expected to close around August 23, 2021. Accompanying the shares are common stock purchase warrants, allowing holders to purchase shares at $5.42 each, exercisable after six months from issuance. Proceeds will be used for working capital. H.C. Wainwright & Co. serves as the exclusive placement agent for this offering.

The OLB Group, Inc. (NASDAQ: OLB) announced CEO Ronny Yakov will speak at the Mobile Payments Conference from August 17-19, 2021. His panel discussion on August 19 will cover trends in payment acceptance, focusing on how merchants are adapting to consumer interest in digital payments, including cryptocurrency. OLB’s SecurePay Payment Gateway supports traditional and digital payment methods, enhancing merchant efficiency. The company aims to help small and mid-sized merchants leverage evolving payment technologies and improve operations amidst a growing digital landscape.

The OLB Group has reported its financial results for Q2 2021, showcasing a total revenue of $2.83 million, up 41.7% from $2 million in Q2 2020. Transaction fees constituted $2.67 million, with a notable $258 million in transaction volume across 4.9 million transactions. However, processing costs soared by 62.1% to $2.1 million, and general administrative expenses increased by 122.7% to $848,368. The net loss was $(666,136), up from $(510,409) year-over-year.

The OLB Group reported strong financial results for Q2 2021, with total revenue reaching $2.83 million, up 41.7% from $2 million in Q2 2020. The company processed 4.9 million transactions with a total transaction volume of $258 million. However, processing and servicing costs increased by 62.1% to $2.1 million, and general and administrative expenses surged 122.7% to $848,368. The net loss for the quarter was ($666,136), higher than the prior year. Adjusted EBITDA was (123,756).

OLB Group (NASDAQ: OLB) will announce its second quarter 2021 financial results on August 12, 2021, post-market close. A conference call will follow at 5:00 p.m. ET to discuss results and provide a corporate update, including a Q&A session. Key topics include a Letter of Intent to acquire 1,200 CBD merchants, which could generate $13 million in revenue and $3.6 million in EBITDA, and the launch of DMint, a subsidiary for cryptocurrency mining with 1,000 Asics computers.

The OLB Group (NASDAQ: OLB) announced its subsidiary, DMint, plans to deploy around 1,000 cryptocurrency mining machines operated by zero carbon footprint data centers. An exclusive agreement with Cai Energy Blockchain allows DMint to utilize natural gas directly from wells, minimizing environmental impact. The initiative aims to generate $1 million monthly in recurring revenues by Q4 2021 with an expected increase to 500 petahash per second by the end of 2022. OLB positions itself as a leader in cryptocurrency acceptance in the payment sector through enhanced services for its merchants.

The OLB Group (NASDAQ: OLB) has announced the formation of DMint, Inc., a wholly-owned subsidiary focusing on cryptocurrency mining starting in 2021. The strategy involves building data centers and using ASIC machines, leveraging underutilized energy in alignment with ESG standards. CEO Ronny Yakov emphasized that DMint is expected to significantly boost OLB's revenues and provide new services for small and mid-sized merchants. The company aims to capitalize on the growing relevance of cryptocurrency in the payment industry.