VANCOUVER, British Columbia, Jan. 21, 2021 (World NEWSWIRE) — DMG Blockchain Methods Inc. (TSX-V: DMGI) (DMGGF:OTC US) (FRANKFURT:6AX) (“DMG” or the “Company”), a vertically integrated blockchain and cryptocurrency technological innovation business, is pleased to give its shareholders with its business enterprise outlook for 2021.
Not considering that late 2018 has the typical crypto industry captivated so considerably focus even so, this new bull run is decidedly diverse from the past as institutions these types of as Paypal, BlackRock, and AllianceBernstein are all getting positions, predominantly in Bitcoin. With institutional buyers driving crypto forward alternatively of retail, as it was in 2017 and 2018, it is anticipated that governments and regulators are not considerably driving. In get for the financial scale which institutional investors bring, economical compliance have to go hand-in-hand. DMG’s earlier acquisition of Blockseer is targeted on compliance and fantastic governance, putting it at the forefront of DMG’s 2021-2022 development strategy, along with its core crypto mining operations and 3rd-social gathering web hosting providers.
A lot of DMG shareholders may perhaps not realize that DMG is not just a crypto mining enterprise. Somewhat, it is a complete-company, vertically integrated blockchain enterprise. DMG possesses core belongings that commence with its 85MW ability substation and 27,000 sq. ft. info centre in British Columbia, Canada. DMG’s Mine Supervisor software program optimizes mining functions, and DMG’s Blockseer Pool was developed to meet up with the U.S. Government’s Business office of International Property Regulate (OFAC) compliance for Bitcoin addresses, as very well as giving the utmost degree of transparency, auditability, and corporate governance. DMG plans to monetize this cryptocurrency pool in partnership with Marathon Patent Team Inc. and other potential massive scale mining companies. DMG’s vertical integration will proceed with the launch of added software program products and solutions developed on the Blockseer brand name, which are centered on bringing its customers further into DMG’s worth-added services further than the Company’s main crypto mining functions.
DMG’s Advancement Plans for 2021
In order to situation the Organization for anticipated future improvements in just the cryptocurrency business in normal and the Bitcoin mining marketplace in certain, DMG’s administration is actively included in further producing its company growth technique and altering it to the at any time-switching industry natural environment, aiming at getting 1 of the main innovation forces in this industry. For that reason, the subsequent modern company developments and endeavours are the basis of this extended-term and revenue-oriented strategy for advancement:
Focusing on DMG’s Main Company – Christina Lake Details Centre
DMG’s 2021 focus for its Christina Lake crypto mining functions is to complete its formerly announced retrofitting from air to immersion cooling, increasing both equally its web hosting and self-mining functions, as properly as to offer DMG overall flexibility in controlling cash expenses.
Christina Lake Info Heart – Immersion Retrofitting
Prototyping and screening of immersion has proven miner hashing charges boost up to 30%, allowing for major reductions in the number of miners functioning for the identical hashing overall performance. With the soaring rate and provide shortages of crypto miners, obtaining the money to deploy is just as critical as deploying in immersion cooling to make certain mining overall performance is optimized for each greenback expended. Immersion cooling is not only cutting down the range of miners necessary to reach hashrate targets, but also extending the lifetime of these belongings and conserving the power employed to operate air cooling enthusiasts. DMG will supply even more updates on this immersion cooling technology in the long term following even more testing is finished.
DMG will keep on its tests in Q1 2021 as it commences key retrofitting of the information centre from air cooling to immersion cooling. By focusing on engineering, DMG will not need to change the current small voltage infrastructure applied in air cooing. Alternatively, it will use the exact footprint and include immersion cooling tanks and piping, which are expected to help save significantly on retrofitting expenditures and shorten time lines significantly.
“Our long term crypto mining efficiency will be terribly substantial, as we mix immersion cooling with Blockseer’s Mine Manager automation and DMG’s seasoned complex crew running the Christina Lake Knowledge Heart. I feel DMG will be demanding the crypto marketplace in the hashrate we will be developing relative to our ability intake and operational costs,” claimed DMG’s CTO, Adrian Glover. “For example, if any given selection of miners would make 1,000 petahash devoid of immersion cooling, DMG is likely to be in a position to comprehend at least 1,300 petahash from the correct same established of miners by applying our immersion cooling engineering.”
With the transfer to immersion cooling, DMG aims to optimize its earnings on long term self-mining as very well as be equipped to cost a premium for hosted customers who would desire the benefits of immersion cooling without having the included capital charge of developing themselves.
Christina Lake Information Center – Self Mining
DMG’s self-mining operations have benefited from continued advancement in Bitcoin benefit, allowing for increased profitability from more mature mining machines. This has allowed sustained rewarding mining operations as DMG transitions into immersion with following era mining technologies. As the provide of the most recent generation Bitcoin mining devices will be very important for DMG’s upcoming development, DMG is continuing to do the job intently with leading miner producers and ingredient manufacturers of chips, boards and tanks. DMG intends to announce even further contractual gear and improvement information soon.
The Christina Lake Data Heart, an 85-megawatt substation with a 27,000 sq. foot data heart, resides in the Company’s wholly-owned debt-cost-free setting up on a 33 acre home. DMG’s expenditure in this infrastructure makes it possible for the enterprise to pivot in between self-mining and hosting for third parties. This flexibility allows DMG to manage cash costs when required, and also take gain of the most lucrative earnings streams as they adjust more than time involving internet hosting and self-mining.
The Business expects the COVID-19 pandemic to have an impact on the availability and timing of mining gear, which include amplified prices from delivery. If added mining equipment is obtained for the Company’s Christina Lake Facility, the Enterprise expects longer than normal delivery periods from the numerous machines manufacturers and suppliers. In addition, depending on the selection of further Bitcoin mining rigs bought by the Company, added funds may well be essential.
Reaching DMG’s Goal to be a Vertically Integrated Blockchain Business – Blockseer
In early 2018, DMG obtained Datient, Inc., the Silicon Valley-centered creator of Blockse
er and Walletscore. The acquisition was a strategic go centered on the long term of compliance and very good governance in the cryptocurrency house. Blockseer highlights DMG’s foresight in making sure the Business develops the appropriate technology at the ideal time, not only to take part but to have the items and know-how prepared to unlock adoption by means of regulatory compliance.
Blockseer – Computer software Concentrated on Basic safety & Security & Regulatory & Compliance
In excess of the very last two years, the Blockseer group has concentrated on strategically concentrating on the progression of the crypto industry and how Blockseer can ensure its blockchain info will build business desired goods. Current alterations, together with institutional desire going into Bitcoin, as mentioned previously mentioned, and the regulatory bulletins from the Place of work of the Comptroller of Currency (OCC) display that this is both equally a fast producing and reducing-edge area. This information has been echoed by nominated Secretary of the Treasury J. Yellen, wanting to avert illicit transactions in the Bitcoin network. Fortunately, Blockseer is perfectly positioned to assistance pioneer this sector with our very first two products (Explorer and Walletscore) which let customers to be correctly educated, knowledgeable and protected in an otherwise normally grey space. Growing on Explorer and Walletscore, Blockseer launched its Pool system which will be integrated with Blockseer’s Mine Supervisor, as one unified system.
A overview of Blockseer’s products and solutions are as follows:
Blockseer: Protection & Safety Platform
Blockseer Explorer (occasionally referred to as Intelligence) is an analytics instrument that enables tracking cryptocurrency on both the Bitcoin and Ethereum blockchains.
Blockseer: Regulatory & Compliance Platforms
Blockseer Walletscore steps the propensity of a crypto-wallet to have interaction in prison activity.
Blockseer Pool is the North American-based mostly Bitcoin mining pool, supplying authentic-time AML and bringing in a new typical in mining compliance and governance. In late 2020, DMG announced that its U.S. subsidiary Blockseer was launching a North American-dependent Bitcoin mining pool targeted on governance, compliance, clean blocks, and audit-completely ready reporting for its end users.
Blockseer Mine Manager is application which tracks mining facilities’ effectiveness. The software program presents automatic administration of crypto mining data facilities and distant container deployments.
“This is not about a essential transform of the network, nor a Bitcoin revolution, and we are certainly not de-anonymizing Bitcoin, but we have to have to be geared up for continuing technological progress and regulatory adjustment of the Bitcoin network as it demands oversight to satisfy the two important institutional buyers and official regulators,” explained DMG’s COO, Sheldon Bennett. “At DMG we are absolutely fully commited to continually help and increase the international Bitcoin community, and at the very same time we are certain that the future of Bitcoin’s rapidly expanding mass adoption lies in regulatory compliance and industry adoption as this great cryptocurrency creation can’t and really should not be abused by criminals and terrorists or confined to the darkest corners of the online. Bitcoin is a developing asset class and in purchase for Bitcoin to be adopted by huge institutions and be recognized by regulators, enhanced mining swimming pools will be essential.”
DMG is thrilled that this new item caught the awareness of important North American miners, top DMG to a new partnership.
DCMNA – A New Partnership
Lately DMG entered into a memorandum of knowing (“MOU”) with Marathon Patent Team (NASDAQ: MARA) which then registered and made a 501c4 Non-Gain named the Digital Currency Miners of North The us ( www.DCMNA.org ). The DCMNA intends to license Blockseer’s Bitcoin mining Pool computer software, a proprietary product designed by DMG’s U.S. subsidiary. The organization’s principal initiative is to build North America’s 1st cooperative Bitcoin mining pool so all its customers can acquire benefit of a cooperative community structure. Some crucial highlights involve:
- DCMNA’s Inaugural Chairman is Merrick Okamoto, Govt Chairman of Marathon Patent Team Inc. (NASDAQ: MARA), just one of the world’s largest and leading Digital Currency Mining companies.
- DCMNA will lobby for helpful adjustments and policies in North The usa for crypto mining. Funding of these endeavours will be through a little percentage of pool expenses allotted to its governing Committee.
- DCMNA permits its members to satisfy Anti Cash Laundering (AML) and Workplace of Overseas Assets Regulate (OFAC) compliance by means of licensing Blockseer’s Pool which will include things like Blockseer’s Walletscore technologies.
- As the Pool is a cooperative it will rebate all people dependent on hashrate contribution to help with subsidizing pool charges and growing miner profitability
- As a member company organization, the DCMNA will proceed to engage DMG’s Blockseer for ongoing improvements to software program, products, and creating much more incentives for DCMNA Users. Other member suggestions and items which gain North American miners will be reviewed for inclusion as properly.
DMG thinks that the route to massive scale global adoption for electronic belongings is vastly improved via mainstream adoption, from retail to institutional participants. This approach has begun, and it is crucial that all members ensure they meet current recommendations, restrictions, and reporting conditions. Blockseer potential customers DMG’s endeavours to produce a vertically built-in blockchain organization exactly where compliance is the essential to bridging the changeover of cryptocurrencies to mainstream adoption.
See DMG’s information release dated January 5, 2021 for further more information on the prepared DCMNA.
Conditions of the MOU with Marathon contain DMG licensing Blockseer’s technologies and linked intellectual property to DCMNA, as effectively as the administration of pool operations. Upon completion of a definitive arrangement, in depth terms and problems will be supplied in an upcoming news launch. Pool operations are anticipated to commence soon just after getting into into a definitive settlement.
“DMG, as a vertically integrated Blockchain business, focuses on all elements of the Bitcoin blockchain beginning at the mining ecosystem, via to securing the blockchain and processing Bitcoin transactions. Our business enterprise divisions involve self-mining, hosting third get together purchasers, development and deployment of application merchandise these kinds of as Blockseer’s Mine Manager to take care of mining operations, as very well as the modern launch of Blockseer’s Pool, which aggregates Bitcoin mining hashrates and connects them to the Bitcoin protocol,” stated DMG’s CEO, Dan Reitzik.
For extra facts on DMG Blockchain Options check out: www.dmgblockchain.com
On behalf of the Board of Directors,
Daniel Reitzik, CEO & Director
For further facts, be sure to speak to:
DMG Blockchain Remedies Inc.
World wide web: www.dmgblockchain.com
About DMG Blockchain Alternatives Inc.
DMG is a vertically-integrated blockchain and cryptocurrency organization that manages, operates, and develops stop-to-finish digital options to monetize the blockchain ecosystem. DMG’s companies are segmented into a few key divisions: data centre functions, info analytics and forensics and creating company blockchains. DMG’s facts centre operations target on earning revenues from block benefits and transaction charges by mining generally bitcoin, as perfectly as giving hosting expert services for industrial mining clients. DMG’s facts analytics and forensic solutions give complex expertise software package products this kind of as Blockseer Pool, Mine Supervisor and Walletscore, as nicely as operating with auditors, law corporations, and regulation enforcement corporations. DMG’s permissioned blockchain technology is concentrated on creating business computer software for the offer chain management of managed merchandise. DMG’s tactic is to turn into the domain professional throughout the business verticals it focuses on. DMG’s management staff contains seasoned crypto specialists, forensic & money professionals and blockchain builders with deep interactions in the course of the sector.
Cautionary Be aware About Forward-Seeking Facts
This news release contains forward-on the lookout facts primarily based on present expectations. Statements about the Company’s options for the potential institution of its strategic extensive-time period strategies, its DCMNA pool and definitive agreement, to maximize petahash (PH) by self-mining, attaining added bitcoin mining equipment, raising additional money, employing the complete Christina Lake Facility, the probable of the immersion cooling engineering, the anticipated optimistic outlook for the cryptocurrency and blockchain industries, price tag of bitcoin, strategies and intentions, software program progress programs, other likely transactions, acquisition of prospects, product development, functions, classes of action, and the prospective of the Company’s technological innovation and operations, amongst other people, are all ahead-seeking information. Forward-seeking statements consist of statements that are not purely historic, including any statements about beliefs, ideas, expectations or intentions relating to the potential. This kind of data can typically be determined by the use of forwarding looking wording this sort of as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the destructive thereof or similar variations. The reader is cautioned that assumptions employed in the preparing of any forward-looking details may perhaps show to be incorrect. Activities or instances may well induce true success to differ materially from those people predicted, as a outcome of numerous recognized and unknown hazards, uncertainties, and other things, quite a few of which are further than the control of the Corporation, which includes but not minimal to, business enterprise, economic and funds sector conditions the ability to handle running costs, which may adversely impact the Company’s economic condition the capacity to stay competitive as other far better financed competitors create and release competitive goods regulatory uncertainties obtain to products market place disorders and the demand from customers and pricing for solutions the demand and pricing of bitcoins safety threats, together with a decline/theft of DMG’s bitcoins DMG’s interactions with its consumers, distributors and company companions the inability to increase extra electricity to DMG’s services DMG’s ability to successfully outline, structure and launch new products in a timely method that meet customers’ requires the potential to bring in, keep and encourage competent personnel levels of competition in the field the affect of know-how changes on the products and solutions and sector failure to create new and revolutionary goods the ability to productively maintain and implement our intellectual house legal rights and defend third-occasion promises of infringement of their intellectual house legal rights the impression of mental assets litigation that could materially and adversely have an effect on the business enterprise the potential to manage operating funds and the dependence on critical staff. DMG may perhaps not truly realize its strategies, projections, or anticipations. Such statements and info are centered on several assumptions about present and future small business strategies and the atmosphere in which the Business will operate in the potential, together with the demand for its products, the ability to productively establish program, that there will be no regulation or regulation that will avoid the Business from functioning its organizati
on, predicted expenditures, the ability to safe adequate cash to complete its company programs, the skill to realize objectives and the price of bitcoin. Offered these pitfalls, uncertainties and assumptions, you really should not spot undue reliance on these forward-looking statements.
The securities of DMG are considered hugely speculative thanks to the character of DMG’s enterprise.
Aspects that could cause genuine success to differ materially from individuals in ahead-seeking statements include things like, failure to get hold of regulatory approval, the ongoing availability of capital and financing, machines failures, absence of provide of machines, energy and infrastructure, failure to acquire any permits expected to run the small business, the effects of technological know-how alterations on the marketplace, the impact of COVID-19 or other viruses and diseases on the Company’s potential to work, secure products, and seek the services of staff, decrease in the price of Bitcoin and other cryptocurrencies, opposition, security threats which includes stolen bitcoins from DMG or its prospects, buyer sentiment to DMG’s items, products and services and blockchain technological innovation normally, failure to create new and impressive products and solutions, litigation, increase in running expenditures, raise in devices and labor charges, failure of counterparties to complete their contractual obligations, authorities rules, decline of essential employees and consultants, and common financial, market or enterprise problems. Ahead-looking statements contained in this news launch are expressly competent by this cautionary statement. The reader is cautioned not to put undue reliance on any forward-searching information. The forward-hunting statements contained in this news launch are created as of the date of this news release. Except as required by regulation, the Firm disclaims any intention and assumes no obligation to update or revise any forward-seeking statements, whether as a outcome of new data, future occasions or otherwise. On top of that, the Corporation undertakes no obligation to remark on the anticipations of, or statements built by 3rd get-togethers in respect of the issues talked about over.
Neither the TSX Undertaking Trade nor its Regulation Support Company (as that phrase is outlined in the insurance policies of the TSX Undertaking Exchange) accepts responsibility for the adequacy or precision of this information launch.