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DMG has released interim revenue guidance for the first quarter of 2021-2. $ 13.5 to $ 14 million, Canadian Business Journal

Vancouver, British Columbia, March 8, 2022 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG” or “Company”), vertical The Integrated Blockchain and Cryptocurrency Technology Company has released selected preliminary revenue guidance for the three months ending December 31, 2021 (1st quarter). All financial information in this press release is unaudited and reported in Canadian dollars, unless otherwise stated.

Receiving additional crypto miners throughout the first quarter increased DMG’s mining capacity, with expected consolidated revenues in the first quarter of 2021 ranging from $ 13.5 to $ 14 million. In contrast, $ 3.5-4 million in the fourth quarter of 2021 increased by about 260%. Quarterly.

We plan to submit the interim financial statements and accompanying management discussions and analysis for the three months of March 2022, which ended December 30, 2021.

Core operations

Depending on the difficulty of the network and the overall mining hash rate, DMG coin production in the first quarter mining operation is estimated to be 175-180 BTC, 260% from 47-50 BTC in the fourth quarter. It’s a big increase in strength. We also estimate that the average hash rate for the first quarter is about 410 Ph / s, compared to a hash rate of 280 Ph / s for the fourth quarter, an increase of 46%.

As previously reported, DMG ordered 7,850 S19j Pros and 1,800 S19XP Bitcoin Miners from Bitmain for a total of 1,037 PH / sec. Currently, DMG operates at an average of 510 PH / s and receives about 50% of hash rate orders.

Core + operations

The previously announced DMG Core + strategy continues to materialize. MaraPool’s pool service discovered 194 blocks from the beginning of the first quarter to the end of December 2021. Similarly, DMG has begun beta testing Terrapool until the first quarter. So far, we have found 15 blocks, all using renewable energy.

“This is an important quarter for DMG and the first quarter in which the company is making significant profits from its self-mining and investment in new cryptocurrency mining equipment. From companies primarily focused on hosting to self-crypto mining. Our strategy of further focus is on track and about 50% of the exahash purchased is currently up and running. In addition to improving the Core strategy, the Core + team was big on the software platform in the first quarter. We have made progress. Our pooling software continues to find blocks that are in line with expectations and continue to work on other platforms to help diversify DMG’s revenues. ” Sheldon Bennett, Chief Executive Officer of the company, commented.

About DMG Blockchain Solutions Inc.

DMG is an environmentally friendly, vertically integrated blockchain and cryptocurrency company that manages, operates and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG’s sustainable business is divided into three main divisions: data center operations, data analytics and forensics, and enterprise blockchain development. DMG’s clean data center operations are primarily focused on earning eco-friendly revenue from block and transaction fees by mining Bitcoin, an industrial mining client that makes full use of renewable energy. We provide hosting services to. DMG’s data analysis and forensic services provide technical expertise software products such as Blockseer Pool, Mine Manager and Walletscore, and work with auditors, law firms and law enforcement agencies. DMG’s licensed blockchain technology focuses on developing enterprise software for supply chain management of managed products. DMG’s strategy is to become a domain expert across the industry in which it is focused. DMG’s environmentally friendly management team includes experienced crypto experts, forensic and financial experts, and blockchain developers with deep industry-wide relationships and strong ecological awareness.

Future changes in mining difficulty or Bitcoin hash rate across the Bitcoin network can have a significant impact on the future performance of DMG’s Bitcoin production, and future operational results will also be Bitcoin prices and hashes. Increased rate mining difficulty can have a significant impact.

Future changes in mining difficulty or Bitcoin hash rate across the Bitcoin network can have a significant impact on the future performance of DMG’s Bitcoin production, and future operational results will also be Bitcoin prices and hashes. Increased rate mining difficulty can have a significant impact.

For more information on the DMG blockchain solution, please visit: www.dmgblockchain.com
follow Twitter @dmgblockchain And subscribe DMG’s YouTube channel..

On behalf of the board of directors
Sheldon Bennett, CEO and Director

For more information, please contact:

DMG Blockchain Solutions Inc.
Email: Investor @ dmgblockchain.com

web: www.dmgblockchain.com

Investor Publicist:
Core IR516-222-2560

For media inquiries:
Jules Abraham, Head of Public Relations
Core IR
917-885-7378
julesa@coreir.com

Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this news release.

Precautions regarding future prospects

This news release contains information or statements about future prospects based on current expectations. Forward-looking statements contained in this news release include revenue guidance, Bitcoin production estimates, Core + strategies and plans, 2022 outlook and plans, Bitcoin miner expected delivery dates and installation dates, and additional bits. Contains a statement about the expected Ph / s from the coin miner. , Bitcoin expected to be produced daily, submission of interim financial statements, hiring more employees and personnel, developing and executing company products and services, with other platforms for diversifying revenue Collaboration, launch of products and services, including Terrapool, events, policies of conduct, and above all the potential of our technology and operations are all forward-looking information.

Forward-looking statements consist of statements that are not purely historical, including statements about future beliefs, plans, expectations, or intentions. Such information is generally positive expressions such as “may”, “expect”, “estimate”, “expect”, “intention”, “believe”, “continue”, or them. Can be identified using a negative expression of, or a similar variation. Readers should be aware that the assumptions used to create information about the future outlook may turn out to be incorrect. As a result of numerous known and unknown risks, uncertainties, and other factors, events or circumstances can cause actual results to differ materially from expectations. Many of these factors are beyond our control, including but not limited to markets and others. Conditions, fluctuations in trading prices of common stock, business, economic and capital market conditions. The ability to manage operating expenses that can adversely affect our financial position. The ability to remain competitive as other, more well-funded competitors develop and release competitive products. Regulatory uncertainty; access to equipment; market conditions and product demand and prices. Bitcoin demand and pricing. Security threats including the loss / theft of DMG Bitcoin. Relationships between DMG and its customers, distributors, and business partners. The inability to add power to the DMG facility. DMG’s ability to successfully define, design and release new products in a timely manner that meets customer needs. Ability to attract, retain and motivate qualified personnel. Industry competition; the impact of technological changes on products and industries. Failure to develop new and innovative products. Ability to successfully maintain and enforce our intellectual property rights and defend claims for infringement of our intellectual property rights by third parties. The impact of intellectual property proceedings that can have a significant and negative impact on the business. Ability to manage working capital. And dependence on key personnel. DMG may not actually meet its plans, expectations, or expectations. Such statements and information are based on many assumptions about current and future business strategies and the environment in which we will do business in the future. This includes product demand, the ability to successfully develop software, and the lack of regulations and laws. It will hinder the company’s ability to run a business, expected costs, the ability to secure sufficient capital to complete a business plan, the ability to reach goals, and the price of Bitcoin. Given these risks, uncertainties, and assumptions, we should not place excessive reliance on these forward-looking statements. DMG securities are considered highly speculative due to the nature of DMG’s business. For more information on these and other risks and uncertainties, please refer to our filings at www.SEDAR.com.

Factors that may cause actual results to differ materially from those described in the future outlook include failure to obtain regulatory approval, continued availability of capital and funds, equipment failure, equipment, power, etc. Insufficient infrastructure supply, failure to obtain permits, impact of technological changes on the industry necessary for business operations, Covid-19 or other viruses and illnesses, company operational capabilities, equipment protection, Impact on security threats including recruitment, competition, theft of bitcoins from DMG or consumer sentiment towards its customers, DMG products, services and blockchain technology in general, failure to develop new and innovative products , Litigation, increased operating costs, increased equipment and labor costs, lower Bitcoin prices, failed counterparty performance contractual obligations, government regulations, loss of key employees and consultants, and general Economic, market or business conditions. The forward-looking statements contained in this news release are explicitly modified by this notice. Readers should be careful not to place excessive trust in information about future prospects. Forward-looking statements contained in this news release were made as of the date of this news release. Except as required by law, we undertake no obligation to disclaim any intent and to update or revise any forward-looking statement as a result of new information, future events, etc. In addition, the Company shall not be obliged to comment on the expectations or remarks of third parties regarding the above matters.


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DMG has released interim revenue guidance for the first quarter of 2021-2. $ 13.5 to $ 14 million, Canadian Business Journal

Source link DMG has released interim revenue guidance for the first quarter of 2021-2. $ 13.5 to $ 14 million, Canadian Business Journal

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