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Thanks for staying on this for us! Appreciate all the updates.
I bought some a week or so ago. Something is happening after hours today. It’s up 27%
DMG Blockchain Set To Join Marathon’s Bitcoin Mining Pool, MaraPool
Source: GlobeNewswire Inc.
Marathon Digital Holdings, Inc. (NASDAQ:MARA) ("Marathon" or "Company"), one of the largest enterprise Bitcoin self-mining companies in North America, today announced that DMG Blockchain, (TSX-V: DMGI) (OTCQB: DMGGF) (FRANKFURT: 6AX), a vertically integrated blockchain and cryptocurrency technology company, will become the first North American Bitcoin miner, excluding Marathon, to join Marathon’s mining pool, MaraPool.
On Monday September 13, 2021, DMG Blockchain will begin pointing 100% of its hash rate towards MaraPool, as the pool opens to additional Bitcoin mining companies. MaraPool is a U.S.-based Bitcoin mining pool that is focused on reducing the environmental impact of Bitcoin mining through carbon neutral mining. The pool, which is fully audited by a third-party firm in the U.S., provides its members with industry leading transparency, an intuitive reporting system, and access to exclusive services from NYDIG.
“After experiencing difficulties with mining pools outside the U.S., we decided to launch our own pool that would reflect the values and needs of enterprising North American Bitcoin miners,” said Fred Thiel, Marathon’s CEO. “After many months of testing, we have now opened the pool to other Bitcoin miners that share our beliefs and our desire to improve miners’ processes. DMG Blockchain has long been an innovator in this regard, having worked closely with us on this initiative, and we are pleased to welcome them to MaraPool.”
Sheldon Bennett, DMG Blockchain’s CEO, added, “Marathon has consistently remained at the forefront of not only scaling but professionalizing the Bitcoin mining industry. Their mining pool, which leverages our industry-leading software, is no different. While many mining pools lack transparency and accountability, MaraPool excels at both. We believe that being part of MaraPool will improve our operations, and we look forward to benefiting from this change.”
On September 9, 2021, Marathon will be promoting MaraPool’s features and benefits at Bitmain’s Digital Mining Energy Conference in Miami, FL. To learn more about MaraPool, or to apply to join, visit marapool.com.
DMG Blockchain is the First to Join MaraPool
Source: GlobeNewswire Inc.
DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB: DMGGF) (FRANKFURT: 6AX) (“DMG” or the “Company”), a vertically integrated blockchain and cryptocurrency technology company, announces today that DMG has become the first Canadian Bitcoin miner to join the mining pool of Marathon Digital Holdings, Inc. (Nasdaq:MARA) commonly referred to as MaraPool.
MaraPool is a U.S.-based Bitcoin mining pool that is fully audited by a third-party firm in the U.S. The pool provides its members with industry leading transparency, an intuitive reporting system, and access to exclusive services from NYDIG. On September 13, 2021 DMG will begin pointing 100% of its hashrate towards the MaraPool. Upon DMG being the first to join, MaraPool will then be open to additional Bitcoin mining companies.
Sheldon Bennett, DMG Blockchain’s CEO, said, “Marathon has consistently remained at the forefront of not only scaling but professionalizing the Bitcoin mining industry. Their mining pool, which leverages our industry-leading software, is no different. While many mining pools lack transparency and accountability, MaraPool excels at both. We believe that being the first to join shows our confidence in MaraPool, and we look forward to others joining and benefiting from MaraPool as well.”
“After experiencing difficulties with mining pools outside the U.S., we decided to launch our own pool that would reflect the values and needs of enterprising North American Bitcoin miners,” said Fred Thiel, Marathon’s CEO. “After many months of testing, we have now opened the pool to other Bitcoin miners that share our beliefs and our desire to improve miners’ processes. DMG Blockchain has long been an innovator in this regard, having worked closely with us on this initiative, and we are pleased to welcome them to MaraPool.”
DMG to Present at H.C. Wainwright 23rd Annual Investment Conference
In addition, Mr. Bennett will present at the H.C. Wainwright 23rd Annual Global Investment Virtual Conference, which is being held virtually from September 13 – 15, 2021. He will deliver the corporate presentation, which will become available beginning on September 13 at 7:00 AM ET. Investors can register for the conference here: www.hcwevents.com.
Mr. Bennett will also be available for one-on-one meetings throughout the conference.
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 businesses are segmented into three main divisions: data centre operations, data analytics and forensics and developing enterprise blockchains. DMG’s non-polluting data centre operations focus on earning eco-friendly revenues from block rewards and transaction fees by mining primarily bitcoin as well as providing hosting services for industrial mining clients entirely powered by renewable energy. DMG’s data analytics and forensic services provide technical expertise software products such as Blockseer Pool, Mine Manager and Walletscore, as well as working with auditors, law firms, and law enforcement organizations. DMG’s permissioned blockchain technology is focused on developing enterprise software for the supply chain management of controlled products. DMG’s strategy is to become the domain experts across the business verticals it focuses on. DMG’s environmentally committed management team includes seasoned crypto experts, forensic & financial professionals and blockchain developers with deep relationships throughout the industry and a strong ecological consciousness.
Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hashrate may materially affect the future performance of DMG’s production of Bitcoin, and future operational results could also be materially affected by the price of Bitcoin and an increase in hashrate mining difficulty.
For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
Follow @dmgblockchain on Twitter and subscribe to DMG's YouTube channel.
On behalf of the Board of Directors,
Sheldon Bennett, CEO and Director
For further information, please contact:
DMG Blockchain Solutions Inc.
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
Investor Relations Contact:
CORE IR 516-222-2560
For Media Inquiries:
Jules Abraham, Head of Public Relations
CORE IR
917-885-7378
julesa@coreir.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
About Marathon Digital Holdings
Marathon is a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets.
Marathon Digital Holdings Company Contact:
Charlie Schumacher
Telephone: 800-804-1690
Email: charlie@marathondh.com
Really that’s your take away from the call? Your a dubious reporter of nonsense if this is all you can sift out of a 45 minute call that detailed a lot of projects and activities. You lost any respect i may have had for you. I’m barely in DMG so if it went down that would be good for me. But I’m not going to spout ridiculousness like this.
Thanks Port77, I appreciate your integrity and explanations. I have been following DMG for a few years now and they have have always been forward looking and upstanding. They have so many other irons in the fire that are slowly making progress. I only have a few shares at this time but am ready to get back in after that call/report.
Thanks for this info. That is huge news on so many fronts. If it really does go through. It will change the landscape for sure. I imagine it will be a watered down version if it does go through. Reddit apes changing the world as we know it.
Well said Rosstafari!
I suppose DMG will have it’s day again in the future. In the meantime I’m moving on to the ones that are making me money and not loosing it.
Maybe this will begin to be the norm which in the end may help DMG.
https://cointelegraph.com/news/no-blood-coin-for-kevin-o-leary-as-investor-takes-stand-on-bitcoin-energy-consumption
I can only imagine they must be diluting. There’s no way this should not be going up, up and away at this time. Dilution is not bad in the long run. Since they will probably be paying for increased mining equipment...etc. However, it really sucks in the short term.
Both MARA and DMG going up on this good news.
DMG Blockchain Solutions and Marathon Digital Holdings enter into Definitive Software and Technology Agreement for the DCMNA Pool
March 31, 2021 09:04 ET | Source: DMG Blockchain Solutions Inc.
VANCOUVER, British Columbia, March 31, 2021 (GLOBE NEWSWIRE) -- After the execution of a memorandum of understanding in early January 2021, Marathon Digital Holdings Inc. (Nasdaq: MARA), (“Marathon”) and DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB-US: DMGGF) (FRANKFURT: 6AX) (“DMG”), a vertically integrated blockchain and cryptocurrency technology company, have entered into a definitive license agreement (the “Agreement”) to provide technology solutions for Marathon and the new Digital Currency Miners of North America (“DCMNA”) pool. Marathon is one of the largest enterprise Bitcoin self-mining companies in North America and will be launching the first North America-based Bitcoin mining pool that is fully compliant with U.S. regulations, including anti-money laundering (AML) and the Office of Foreign Asset Control’s (OFAC’s) standards. Unique features of DMG’s Blockseer pool technology include the ability to filter transactions to ensure AML and OFAC compliance in anticipation of impending US regulations. On a day-to-day basis, DCMNA will manage the pool with DMG providing strategic guidance and/or technical support as needed.
Marathon intends to direct 100% of its hashrate to the new mining pool. Marathon expects all 103,120 of its miners to be deployed by the first quarter of 2022, at which point, the Company will be directing 10.37 EH/s to the mining pool. In June 2021, the pool will begin accepting other U.S.-based Bitcoin mining companies.
Terms of Agreement with Marathon
As part of the Agreement, Marathon will be licensing DMG's proprietary Blockseer pool technology to be used by the DCMNA entity. Pursuant to the terms and conditions of the Agreement, DMG will receive:
(a) USD$500,000 in common shares of Marathon;
(b) a monthly license fee paid in cash or Bitcoin (at DMG’s election) with a sliding scale based on DCMNA’s block rewards and transaction fees received by the pool; and
(c) technical support services to be provided on an as-needed basis with payment in US dollars.
"We are excited to provide our proprietary software tools to the DCMNA pool.. As more U.S.-based Bitcoin mining companies (and their hashrate) join DCMNA, DMG will receive more Bitcoin from licensing our technology," said DMG’s CEO & COO, Sheldon Bennett.
“While institutional interest in Bitcoin is accelerating, many large funds and corporations have expressed concerns over purchasing Bitcoin that may have been tainted by nefarious actors,” said Merrick Okamoto, Marathon’s chairman and CEO. “Our pools’ initiatives are grounded on decentralization, transparency, legal compliance with U.S. rules and regulations, and independent auditability under U.S. auditing standards. While we appreciate some miners’ appetite for processing transactions indiscriminately, it is our belief that as a publicly listed company based in the United States, and as one focused on enabling more institutional adoption of Bitcoin, it is our responsibility to follow U.S. regulations. We believe that such regulatory compliant mining will allow us to produce ‘clean’ Bitcoin, which will enable a greater number of institutions to gain exposure to this new asset class, ultimately benefiting our organization, our shareholders, and the broader network.”
Okamoto continued, “Currently, more than two-thirds of Bitcoin’s global hashrate is concentrated in pools with little transparency, and most reside in one country. It is our belief that this concentration of hashrate outside of the United States, where central authorities could interfere with mining operations without due process, poses a risk to the network. We believe shifting more mining power to the U.S. could reduce these risks, potentially strengthening the network and benefitting all who participate in it. If all 10.37 EH/s of our potential hashrate were pointed towards this pool today, our mining pool would be the seventh largest bitcoin mining pool in the world, putting North America on the map as a digital-asset mining hub.”
IMPORTANT DETAILS IN MARATHON NEWS RELEASE.
Marathon will ensure the transactions processed by its pool meet regulatory standards by using technology exclusively licensed by DMG Blockchain allowing transfers to be filtered.
Marathon will begin diverting 100% of its current hash power to the new pool from May 1. Marathon’s new pool also plans to begin accepting hash power pooled from other U.S.-based miners from June 1. By 2022, Marathon expects to have deployed 103,120 miners to direct 10.37 exahashes per second, or EH/s, to the mining pool — equal to roughly 6.4% of the Bitcoin network’s current combined hash rate.
DMG BLOCKCHAIN is a sleeper because Marathon will use DMG's technology to acheive what is revealed in the news release. DMG'S MARKET CAP WILL REACH 1 BILLION DOLLARS IN SHORT TIME PERIOD possibly in less than 12 months. This news is of upmost importance. I am taking notice.
As part of the Agreement, Marathon will be licensing DMG's proprietary Blockseer pool technology to be used by the DCMNA entity. Pursuant to the terms and conditions of the Agreement, DMG will receive:
(a) USD$500,000 in common shares of Marathon;
(b) a monthly license fee paid in cash or Bitcoin (at DMG’s election) with a sliding scale based on DCMNA’s block rewards and transaction fees received by the pool; and
(c) technical support services to be provided on an as-needed basis with payment in US dollars.
"We are excited to provide our proprietary software tools to the DCMNA pool.. As more U.S.-based Bitcoin mining companies (and their hashrate) join DCMNA, DMG will receive more Bitcoin from licensing our technology," said DMG’s CEO & COO, Sheldon Bennett.
This was the story that really started DMG’s run up last time.
DMG Blockchain Solutions and Marathon Digital Holdings enter into Definitive Software and Technology Agreement for the DCMNA Pool
March 31, 2021 09:04 ET | Source: DMG Blockchain Solutions Inc.
VANCOUVER, British Columbia, March 31, 2021 (GLOBE NEWSWIRE) -- After the execution of a memorandum of understanding in early January 2021, Marathon Digital Holdings Inc. (Nasdaq: MARA), (“Marathon”) and DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB-US: DMGGF) (FRANKFURT: 6AX) (“DMG”), a vertically integrated blockchain and cryptocurrency technology company, have entered into a definitive license agreement (the “Agreement”) to provide technology solutions for Marathon and the new Digital Currency Miners of North America (“DCMNA”) pool. Marathon is one of the largest enterprise Bitcoin self-mining companies in North America and will be launching the first North America-based Bitcoin mining pool that is fully compliant with U.S. regulations, including anti-money laundering (AML) and the Office of Foreign Asset Control’s (OFAC’s) standards. Unique features of DMG’s Blockseer pool technology include the ability to filter transactions to ensure AML and OFAC compliance in anticipation of impending US regulations. On a day-to-day basis, DCMNA will manage the pool with DMG providing strategic guidance and/or technical support as needed.
Marathon intends to direct 100% of its hashrate to the new mining pool. Marathon expects all 103,120 of its miners to be deployed by the first quarter of 2022, at which point, the Company will be directing 10.37 EH/s to the mining pool. In June 2021, the pool will begin accepting other U.S.-based Bitcoin mining companies.
Terms of Agreement with Marathon
As part of the Agreement, Marathon will be licensing DMG's proprietary Blockseer pool technology to be used by the DCMNA entity. Pursuant to the terms and conditions of the Agreement, DMG will receive:
(a) USD$500,000 in common shares of Marathon;
(b) a monthly license fee paid in cash or Bitcoin (at DMG’s election) with a sliding scale based on DCMNA’s block rewards and transaction fees received by the pool; and
(c) technical support services to be provided on an as-needed basis with payment in US dollars.
"We are excited to provide our proprietary software tools to the DCMNA pool.. As more U.S.-based Bitcoin mining companies (and their hashrate) join DCMNA, DMG will receive more Bitcoin from licensing our technology," said DMG’s CEO & COO, Sheldon Bennett.
“While institutional interest in Bitcoin is accelerating, many large funds and corporations have expressed concerns over purchasing Bitcoin that may have been tainted by nefarious actors,” said Merrick Okamoto, Marathon’s chairman and CEO. “Our pools’ initiatives are grounded on decentralization, transparency, legal compliance with U.S. rules and regulations, and independent auditability under U.S. auditing standards. While we appreciate some miners’ appetite for processing transactions indiscriminately, it is our belief that as a publicly listed company based in the United States, and as one focused on enabling more institutional adoption of Bitcoin, it is our responsibility to follow U.S. regulations. We believe that such regulatory compliant mining will allow us to produce ‘clean’ Bitcoin, which will enable a greater number of institutions to gain exposure to this new asset class, ultimately benefiting our organization, our shareholders, and the broader network.”
Okamoto continued, “Currently, more than two-thirds of Bitcoin’s global hashrate is concentrated in pools with little transparency, and most reside in one country. It is our belief that this concentration of hashrate outside of the United States, where central authorities could interfere with mining operations without due process, poses a risk to the network. We believe shifting more mining power to the U.S. could reduce these risks, potentially strengthening the network and benefitting all who participate in it. If all 10.37 EH/s of our potential hashrate were pointed towards this pool today, our mining pool would be the seventh largest bitcoin mining pool in the world, putting North America on the map as a digital-asset mining hub.”
Management/Director Updates
DMG also announces a change in senior management and the addition of a new director.
The Company reports that Daniel Reitzik has resigned from DMG as a director and as the Chief Executive Officer. Mr. Reitzik was one of the founders of DMG, and helped DMG grow from a small company in 2016 to a leading cryptocurrency and blockchain company. The Company thanks Mr. Reitzik for his contribution to DMG and wishes him all the best in his future endeavors.
Sheldon Bennett, also a founder, who leads the day-to-day operations of DMG, has been appointed CEO and will also continue in his position of Chief Operating Officer for the time being. With the appointment to CEO, Mr. Bennett will continue building on his role of developing new business opportunities, partnerships, and continuing to execute on bringing DMG’s products to market.
The Company is also pleased to announce that Steven Eliscu has joined DMG’s board of directors. In adding Mr. Eliscu, DMG gains a board member who will help oversee the Company’s continued transformation, while guiding it to focus on key long-term drivers of valuation. Mr. Eliscu currently works as Head of Finance for DSP Concepts, and he is an experienced Blockchain and technology industry veteran, with experience at Bitfury as well as having advised a number of Blockchain start-ups. Mr. Eliscu is also a former equity research analyst for UBS, having provided investment coverage of the semiconductor industry to institutional investors. Mr. Eliscu has a Bachelor of Science in Computer Engineering from Rensselaer Polytechnic Institute and an MBA from the University of Chicago Booth School of Business. Mr. Eliscu’s experience makes him ideal to chair the Board’s Audit Committee.
The Company also announces that it has granted 200,000 stock options with an exercise price of $2.49 to Mr. Eliscu for a three-year term.
Terra Clean Energy Pool
As previously disclosed on March 26, 2021, DMG and Argo Blockchain Plc will provide further updates on the Terra Pool as developments and progress occurs.
About Marathon Digital Holdings Inc.
A few BTC catalysts lining up. Setting up for the next break out.
Reuters reports that PayPal would launch its crypto checkout services later today. The payment giant, which started offering bitcoin custodial and trading services in October last year, will now allow US customers to use their cryptocurrency holdings to pay to PayPal’s millions of merchants worldwide.
DMG Blockchain Solutions Inc. (OTCQB: DMGGF) reported yesterday an update on its intellectual property (IP) status and the use of this IP for developing innovative software solutions on the blockchain ecosystem. DMG’s US technology company, Blockseer, founded in 2013, was one of the first companies operating in data analytics of both the Bitcoin and Ethereum blockchains. With many governments signaling for both tighter regulations in cryptocurrencies as well as their greater acceptance of this technology entering the mainstream, Blockseer’s data and DMG’s overall IP is proving to be current and valuable in many new ways for these evolving market conditions. Existing centralized Bitcoin mining pools are lacking regulatory standards and auditable transparency, and therefore miners may be inadvertently aiding nefarious or criminal users of Bitcoin. DMG’s proprietary KYC and AML technologies represent one of the industry’s best available solutions to provide a legally compliant solution and a regulatory acceptable path forward for Bitcoin miners and the underlying users of Bitcoin in general, without censorship of non-criminal transactions.
There is A LOT of press about DMG and ARGO’s plans for a clean energy Bitcoin mining pool. This story is really getting out there and that has too be good for us. After the MARA agreement it took a day or 2 for it to really impact the share price.
This article is not about DMG but it’s significant in that it is about Square and clean energy Bitcoin. If DMG could get an agreement with them that would be next level.
https://www.coindesk.com/square-to-support-greener-bitcoin-mining-as-part-of-zero-carbon-pledge
This story may get some good press and exposure for DMG. We definitely need some more eyes on it!
I agree the price seems low right now with all the news and BTC in the 50’s and going higher (at some point). DMG always seems late to rally. I’m not sure why. They do not get the same exposure. It’s frustrating for sure.
There is so much good news packed into one press release it’s hard to fathom:
DMG has leveraged its long-time industry contacts to find supply in a hot market when, along with the 2,915 miners we have secured, we have a right of first refusal on an additional 2,500 miners from the same supplier.”
As DMG secures further orders to fully occupy its 85MW flagship facility, the Company will explore the idea of multiple other Bitcoin mining sites to allow for additional hashrate growth in 2022 over and above the previously announced 2021 target of 2.0 EH/s.
EH/s =2 exahashes a second
That’s 1,000,000,000,000,000,000 a second
DMG Blockchain Solutions Purchases 2,915 ASIC Miners for Immediate Use
Press Release | 03/22/2021
VANCOUVER, British Columbia, March 22, 2021 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF:OTCQB US) (FRANKFURT:6AX) (“DMG” or the “Company”), a vertically integrated blockchain and cryptocurrency technology company, today announces the purchase and immediate operation of 2,915 bitcoin ASIC miners, which is an additional approximate 200 PH/s, with a possibility of 2,500 more ASIC miners from the same supplier (totalling an additional 170 PH/s).
As previously announced, DMG is in the process of retrofitting the first 30 MW of infrastructure to immersion cooling (which can produce approximately 1.0 EH/s of Bitcoin mining), to be completed in the first half of 2021 with another 30 MW to follow in the second half-year (totaling 2.0 EH/s).
DMG is currently in negotiations with other leading Bitcoin mining equipment manufacturers for further purchase orders in accordance with its retrofitting efforts, which would allow additional purchases through the rest of 2021 to meet the Company’s hashrate targets.
“DMG’s goal is to provide thought leadership to the cryptocurrency industry, which is why we are focussed on strategies around vertical integration, governance, compliance, and efficiency; hence, our focus on physical technologies such as immersion cooling, along with software technologies found in our Blockseer platforms,” said DMG’s COO, Sheldon Bennett. “DMG has leveraged its long-time industry contacts to find supply in a hot market when, along with the 2,915 miners we have secured, we have a right of first refusal on an additional 2,500 miners from the same supplier.”
As DMG secures further orders to fully occupy its 85MW flagship facility, the Company will explore the idea of multiple other Bitcoin mining sites to allow for additional hashrate growth in 2022 over and above the previously announced 2021 target of 2.0 EH/s.
Beyond the growth of DMG’s cryptocurrency mining footprint, the Company is also continuing to grow its software stack (including clean block mining on the Blockseer Pool), automated management of its mining assets with Blockseer Mine Manager, and tool sets for AML and KYC in Walletscore. Further, the Company seeks to expand into cryptocurrency transactions and integration with traditional financial institutions and crypto-focused exchanges
Dmg is buying more Bitcoin. It would be nice to know how much they have accumulated from mining.
DMG Increases its Bitcoin Exposure by Accumulating Additional BTC for its Treasury
Press Release | 03/18/2021
VANCOUVER, British Columbia, March 18, 2021 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF:OTCQB US) (FRANKFURT:6AX) (“DMG” or the “Company”), a vertically integrated blockchain and cryptocurrency technology company, today announces that its Board of Directors has approved, along with its self-mining, to incorporate a Bitcoin accumulation strategy to significantly increase the Company’s Bitcoin (“BTC”) treasury holdings. After watching for buying opportunities in the market over the last few days and weeks, DMG has started to implement this plan by executing Bitcoin purchases in the amount of roughly 220 BTC since Monday afternoon through customary cryptocurrency exchanges and direct over-the-counter (“OTC”) trades. DMG intends to periodically purchase BTC, based on market conditions, trends and corporate opportunities.
Over the long term, DMG intends to increase its Bitcoin treasury by mining and holding it. In addition, the Company will, from time to time, acquire Bitcoin through a direct investment model such as using funds which are budgeted for later capital deployments. This will allow DMG to use Bitcoin as an ideal store of value, and also as a means to transact, as needed.
“Buying Bitcoin helps to efficiently diversify DMG’s monetary holdings away from cash, and over time we intend to make BTC our treasury currency of choice,” said DMG’s COO, Sheldon Bennett. "We are well connected in this industry and therefore know that many more companies will shortly begin to add Bitcoin to their balance sheets as a hedge against the ongoing dilution and inflation. We believe this will contribute to an even stronger Bitcoin price in the coming weeks and months, from which DMG is positioned to significantly benefit.”
Moving forward, DMG will continue to implement its two-fold business strategy: to grow the corporate blockchain businesses in all of its three divisions (including but not limited to Bitcoin mining and Bitcoin pool management), and to hold newly-mined Bitcoin rewards and acquire additional Bitcoin as a treasury reserve asset, when possible.
“Just as an individual or corporate investor might hold large cash positions, so they might face significant risk of loss of value due to inflation alone. However, that risk doesn’t exist with Bitcoin, which is a deflationary asset by default, with an ever-increasing demand for this superior cryptocurrency. This demand is mainly driven by rapidly growing institutional adoption and an increasingly large demand by retail investors. Coupled with a drastically declining supply of new coins, ultimately, we expect continuously rising Bitcoin prices, which is exactly what we’ve been witnessing in the last few months. We believe Bitcoin has and will continue to have greater value than traditional currencies such as the US dollar,” added DMG’s CEO, Daniel Reitzik.
This is what separates DMG from HIVE (see the article below). DMG is in an agreement with MARA which is undoubtedly one of the biggest mining companies and also a Nasdaq company. It legitimizes DMG over HIVE in my opinion:
Marathon Patent Group and DMG Blockchain Solutions to Form the Digital Currency Miners of North America (DCMNA) and Launch No...
Source: GlobeNewswire Inc.
Marathon Patent Group Inc. (NASDAQ: MARA), (“Marathon”) and DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF: OTC US) (FRANKFURT: 6AX) (“DMG”) have entered into a non-binding memorandum of understanding to form Digital Currency Miners of North America (“DCMNA”), which will be a U.S.-based non-profit entity whose mission is to create a better mining environment for North American miners, to help improve their financial performance, and to create North America’s first cooperative mining pool.
Marathon Patent Group and DMG’s U.S. subsidiary, Blockseer, are working together to establish DCMNA, a non-profit entity focused on North American digital currency opportunities, including decentralizing the Bitcoin hashrate and providing more transparency for North American miners. DCMNA’s principal initiative is to create North America’s first cooperative mining pool by licensing Blockseer’s mining pool to all DCMNA members in a cooperative structure. Mining partners who are members will receive rebates based on the hash rate they contribute to the overall pool, thus improving the mining profitability of DCMNA members.
As a founding member of DCMNA and one of North America’s largest enterprise Bitcoin mining companies, Marathon will put all of its mining hashrate (equivalent to 10.36 EH/s, or 7.6% of the total Bitcoin network’s hashrate, if all miners were deployed today at current levels) into the pool.
Benefits of the mining pool include, but are not limited to:
Profit sharing, whereby miners receive rebates based on their contributed hashrate
Increased transparency as all financial information will be audited by a third-party U.S.-based financial audit firm
Lobbying efforts to improve the policies and regulatory environment in North America for miners
“Clean block mining” that adheres to the Office of Foreign Asset Control’s (OFAC’s) compliance standards and reduces the risk of mining blocks that include transactions linked to nefarious activities
DCMNA is focused on increasing transparency, trust, and accountability in the emerging mining industry, particularly as more institutions embrace Bitcoin as a store of value. Unlike other Bitcoin mining pools, Blockseer’s pool will be audited by an independent auditing firm, ensuring that the miners receive accurate rewards and that auditors and regulators can trust the data provided. Using DMG’s proprietary patent pending technologies, the pool will also create transaction blocks that specifically omit any transactions deemed risky by Walletscore, and which may not meet OFAC standards. As a result, North American miners who are DCMNA members will reduce the risk of the blocks they mine containing transactions tied to criminal or terrorist-related activities.
DCMNA will also act as unified group to lobby government bodies and regulators on behalf of its membership. The organization will be governed by its mining members, while Marathon’s executive chairman, Merrick Okamoto, will serve as DCMNA’s inaugural chairman. A membership committee will also be formed to develop and regulate DCMNA’s operations and investments in North American digital currency mining issues, which will be identified by its membership.
“We are tremendously proud to lead the launch of DCMNA, a non-profit organization, whose first mandate is to bring its members a vast improvement in mining pool operations by licensing the Blockseer pool to serve our North American mining members,” said Marathon’s executive chairman, Merrick Okamoto. “To date, companies such as ours have relied on pools primarily based in Asia to connect to the Bitcoin network, and we have been frustrated by the lack of transparency and audited data. Marathon has been a leader both in terms of market capitalization and also in terms of lobbying regulators on behalf of our industry, and we look forward to working diligently to build the capabilities of DCMNA on behalf of our mining partners and DCMNA’s new members.”
Dan Reitzik, DMG’s CEO added, “It is an honor to work with Marathon to establish the DCMNA and to provide the technological components for the DCMNA organization. When DMG acquired Datient, the parent of Blockseer in 2018, our intention was to create solutions that would benefit our industry as a whole and increase trust in the Bitcoin ecosystem. Mining is a unique industry, in that miners do not necessarily compete with one another for customers or contracts, but instead work together to secure the blockchain on which Bitcoin transactions are processed. It simply makes sense to amalgamate North American miners toward common goals, and the Blockseer pool is the ideal way in which to lead this process in a safe, transparent, and compliant way.”
Terms of the memorandum of understanding include DMG licensing Blockseer’s technology and associated intellectual property to DCMNA, as well as the management of pool operations. Upon completion of a definitive agreement, detailed terms and conditions will be provided in an upcoming news release. Pool operations are expected to commence shortly after entering into a definitive agreement.
About Marathon Patent Group
Marathon is a digital asset technology company that mines cryptocurrencies, with a focus on the blockchain ecosystem and the generation of digital assets.
About DMG Blockchain Solutions Inc.
DMG is a vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG’s businesses are segmented into three main divisions: data centre operations, data analytics and forensics and developing enterprise blockchains. DMG’s data centre operations focus on earning revenues from block rewards and transaction fees by mining primarily bitcoin as well as providing hosting services for industrial mining clients. DMG’s data analytics and forensic services provide technical expertise software products such as Blockseer Pool, Mine Manager and Walletscore, as well as working with auditors, law firms, and law enforcement organizations. DMG’s permissioned blockchain technology is focused on developing enterprise software for the supply chain management of controlled products. DMG’s strategy is to become the domain experts across the business verticals it focuses on. DMG’s management team includes seasoned crypto experts, forensic & financial professionals and blockchain developers with deep relationships throughout the industry.
For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
On behalf of the Board of Directors,
Daniel Reitzik, CEO & Director
Yeah that seems legit.
Cool man thanks for your efforts in explaining it! I appreciate the time that takes to do.
Yeah that’s the short report but many say it’s “virtually meaningless” true short data comes out 2x a month.
See below:
the above data can be alarming for public companies and their investors, until they understand the inner workings of how dealer markets function and broker trades are reported—which render the data virtually meaningless.
Since this data also comes from FINRA, what gives? The daily short selling volume is misleading because market makers and principal trading firms report a large number of trades as short sales in positions that they quickly cover. For market makers with a customer order to sell, they will temporarily sell short (which gets published to the tape as a media transaction for public dissemination) and then immediately buy from their customer in a non-media transaction that is not publicly disseminated to avoid double counting share volumes. SEC guidance also mandates that almost all principal trading firms that provide liquidity at multiple price levels, or arbitrage international securities, must mark orders they enter as short, even though those firms might also have strategies that tend to flatten by end of day. Since the trade reporting process for market makers and principal trades makes the Daily Short Volume easily misleading, we do not display it on www.otcmarkets.com.
Especially considering it’s link to Bitcoin and how wild the swings are in that. I heard on stockhouse a Canadian stock app message board it was being shorted and checked the short report info which said between 40-60% of the shares traded were short. However, I do not know how real that is and how much it’s the Market Makers. I am ignorant of how it all works.
I do know people short all kinds of OTC companies that are smaller though.
Cheers!
Dmg is super frustrating right now. It’s either shorters or dilution or both. In the past the price suppression led to a big increase later.
This is what DMG will be supposedly doing with their funds raised recently:
https://www.vice.com/en/article/dy8b9y/natural-gas-oil-bitcoin-mining-rig-viral-video
I meant 70,000$ for Bitcoin (before a correction) not 70,000% which is caraway talk.
Yeah! I read this today:
What's in it for DMG?
Possible a Million or more of Transactions a day , pennys earned on transactions can equal billions of pennys per year. which would equal millions of dollars a month , Blockseer
http://bitcointicker.co/stamp/btc/usd/6Mth/
Clients get security in transactions with products / monitoring products , Goverments get Regulation in taxiable goods . Wazabi !
just to scratch the surface.
Walletscore !
I don’t understand the share price today. HIVE is acting the same way. Who would sell with BTC headed up to all time highs? There’s a good chance it will see 70,000% according to the chart people I follow.
I can’t imagine anyone would be trying to short this? I never know how real this short report is.
https://otcshortreport.com/company/DMGGF?fbclid=IwAR1Yk4FWZTtwCWMZx2yw71efBSlE8-hr-fqLyI1tzgcggRWOix5wfZkenBU
In any case FOMO will hit soon (if BTC hits an all time high) and we will most likely explode upward like it did earlier.
2021-03-09 10:55 ET - News Release
Mr. Daniel Reitzik reports
DMG'S INTELLECTUAL PROPERTY UPDATE AND BLOCKCHAIN APPLICATIONS
DMG Blockchain Solutions Inc. has provided an update on its intellectual property status and the use of this IP for developing innovative software solutions on the blockchain ecosystem. DMG's US technology company, Blockseer, founded in 2013, was one of the first companies operating in data analytics of both the Bitcoin and Ethereum blockchains. With many governments signaling for both tighter regulations in cryptocurrencies as well as their greater acceptance of this technology entering the mainstream, Blockseer's data and DMG's overall IP is proving to be current and valuable in many new ways for these evolving market conditions.
DMG's IP and Patent Portfolio
To date, DMG exclusively owns and controls blockchain-specific patent pending technology registered in the United States. A brief summary of DMG's (including Blockseer) key patents filed are as follows:
SELECTION OF CRYPTOGRAPHIC IDENTIFIERS IN A BLOCK: Filtering inbound transactions of a blockchain node against a list of cryptographic identifiers, excluding transactions that involve cryptographic identifiers that our data indicates are nefarious activity.
OFF NETWORK IDENTITY TRACKING IN ANONYMOUS CRYPTOCURRENCY EXCHANGE NETWORKS: A method of facilitating identity information exchanged in cryptocurrency transactions using cryptographically verifiable addresses in a cryptocurrency exchange network along with identity information between the transmitter wallet service system and the recipient wallet service system.
PROVIDING DATA PROVENANCE, PERMISSIONING, COMPLIANCE, AND ACCESS CONTROL FOR DATA STORAGE SYSTEMS USING AN IMMUTABLE LEDGER OVERLAY NETWORK: A system for data provenance and data storage that allows multiple independent parties (who may not trust each other) to securely share data, track data provenance, maintain audit logs, keep data synchronized, comply with regulations, and handle permissioning and control who can access the data.
CRYPTO TAINT TRACKING: A method for detecting and tracking tainted cryptographic wallets. The method measures a wallet's propensity to engage in criminal or suspicious activity. Naturally, transacting with a criminal is tantamount either to funding crime or laundering its proceeds, so it is in our collective interest to identify -- and then monitor or quarantine { } any wallet with criminal association. The method also automatically flags risky withdrawal requests in real-time for further review before committing them to the blockchain.
First Mover Advantage for DMG and its Blockseer Subsidiary
DMG's acquisition of Blockseer in 2018 was a strategic move based on the future of compliance and good governance in the cryptocurrency space. Blockseer highlights DMG's foresight to ensure the Company was developing the right technology and products to unlock adoption in advance of regulatory compliance.
Recently, with Bitcoin and Ethereum prices at all-time highs, along with major announcements of corporations, funds and others taking large positions in Bitcoin, there has been renewed interest in the provenance and traceability of Bitcoins. DMG's Blockseer was one of the first products to focus on crypto transactions and the provenance of Bitcoin through its tracking and labelling software. This technology was at first focused on wallet-to-wallet transactions on the Bitcoin blockchain but is now being repurposed to look at the Bitcoin blocks themselves during the process of 'mining' for Bitcoin and posting Bitcoin 'blocks' to the Bitcoin blockchain (transaction processing).
Blockseer's Mining Pool Technology
Late last year DMG announced the launch of its beta Bitcoin mining pool using Blockseer products. An aspect many cryptocurrency users did not understand about mining pools was, and still is, the lack of transparency in how pools work, and why miners should care about which pool they connect to. Using Blockseer's IP and the capability to understand the nuances of the Bitcoin blockchain, Blockseer created a process called 'Clean Block Mining' together with many other improvements to existing Bitcoin mining pools.
Current centralized mining pools face significant regulatory challenges and security issues which have already negatively affected perception of the industry by policy makers and governments around the world. Many of the existing pools have the following shortfalls:
No industry organization substantially involved to ensure, outside of the Bitcoin Protocol itself, any norms, guidelines, rules or regulations are in place and enforced for all to follow. It is common for many industries to self-regulate or take on standards such as ISO specific standards which are industry focused.
No third party, independent and/or professional audit or auditing standard specific to this new industry to ensure individuals and companies are reporting operations accurately.
No simple, conclusive way to verify existing mining pool operators, who offer their services to North American miners, are correctly calculating block rewards and transaction fees in line with mining shares provided by pool subscribers.
No real KYC or AML as a focus by any of the vast majority of mining pools on the market today showing they take any responsibility in disallowing or at least highlighting transactions their pool is involved in from illicit sources and/or criminal actors and that said transactions are against their pool's policies or operations.
Existing centralized Bitcoin mining pools are lacking regulatory standards and auditable transparency, and therefore miners may be inadvertently aiding nefarious or criminal users of Bitcoin. DMG's proprietary KYC and AML technologies represent one of the industry's best available solutions to provide a legally compliant solution and a regulatory acceptable path forward for Bitcoin miners and the underlying users of Bitcoin in general, without censorship of non-criminal transactions.
DMG intends to monetize Blockseer's Pool Technology through licensing it to other parties and pools and/or partnerships with other companies and pools. As previously disclosed, DMG will provide updates on the terms and conditions of any potential transaction involving Blockseer's Pool Technology. DMG is encouraged by the February 16, 2021 announcement of the transaction involving 500.com Limited and BTC.com and believes the market demand is there for robust and technologically advanced Bitcoin mining pools.
Censorship vs. KYC, AML, and Responsible Transactions
In general, miners connect to the Bitcoin protocol via mining pools, the vast majority of which are based in jurisdictions that do not regulate mining pool activities. To date none of these existing pools provides their mining clients with third-party audits, and they may inadvertently be enabling transactions that might not be KYC, AML or Office of Foreign Assets Control (OFAC) compliant. This will increasingly become an issue, especially at the institutional level for all entities involved, when the participants are domiciled in the U.S. or other western countries which are more likely to make KYC and AML mandatory standards.
Censorship - Is It Real?
Many who have been involved with Bitcoin in the early days were, and still are, against government censorship. Bitcoin has its core roots in decentralization and being devoid of Governmental control or manipulation. By filtering transactions based on risk or propensity of risk related to the counterparties' past history or current activities against known information from reliable sources (including up to 100% verified sources) creates the feeling, whether true or not, of censorship. However, there are multiple arguments to make that Blockseer's Clean Block technology is not really censorship of the Bitcoin blockchain. The first argument, which is fundamental, is that any transaction that Blockseer may reject can easily be included by any pool which does not use Blockseer's Clean Block technology and included in its block of transactions. In this regard, transactions that Blockseer would not accept can easily be accepted by any other pool which does not adhere to the same KYC and AML principles. With the number of mining pools active and the split of hashrate between them all, there is no present risk of transaction never being verified by a pool. Additionally, looking back at the spirit of the Bitcoin Protocol, there was no mention for or against adding criminal activities, yet in today's society people, companies, governments and nations are all focused on weeding out and eliminating the means (whatever it may be) of allowing corruption and criminal activity to thrive and grow. Bitcoin is not immune to this.
DMG's COO, Sheldon Bennett commented, "Our Blockseer team has continuously focused on strategically targeting the progression of the crypto industry and how Blockseer can ensure its blockchain technology will create industry needed products. Recent changes, along with greater institutional interest moving into Bitcoin, and the regulatory signals in the market, show that this is both a rapidly developing and cutting-edge space for which our products are tailor-made. Blockseer is well positioned to help pioneer this industry with our first two products, Explorer and Walletscore, which allow users to be properly informed, aware and protected in an otherwise often grey space. Expanding on Explorer and Walletscore, Blockseer launched its Pool Platform which will be integrated with Blockseer's Mine Manager and Walletscore's Clean Blocks, as one unified platform."
About DMG Blockchain Solutions Inc.
DMG is a vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG's businesses are segmented into three main divisions: data centre operations, data analytics and forensics and developing enterprise blockchains. DMG's data centre operations focus on earning revenues from block rewards and transaction fees by mining primarily bitcoin as well as providing hosting services for industrial mining clients. DMG's data analytics and forensic services provide technical expertise software products such as Blockseer Pool, Mine Manager and Walletscore, as well as working with auditors, law firms, and law enforcement organizations. DMG's permissioned blockchain technology is focused on developing enterprise software for the supply chain management of controlled products. DMG's strategy is to become the domain experts across the business verticals it focuses on. DMG's management team includes seasoned crypto experts, forensic & financial professionals and blockchain developers with deep relationships throughout the industry.
We seek Safe Harbor.
The last time DMG was at its highs ($3.50) BTC was at 58,000. DMG always seems like the last mining company stock to take off when BTC goes on a run. I guess people look to it when the others are over bought.
The volume is low today but FOMO may kick in if BTC continues it’s expected uptrend.
As BTC gains respect in the financial worlds the DMG blockchain software is going to lead the way. I do not think it brings in a lot of income at this point but it’s paving the way for the future.
Just like their deal with MARA it’s all about the integrity of the systems behind BTC.
Thanks for posting this!
At some point today most likely the shorters (if it’s true there are many) will have to start buying. Most likely today. Selling shares to institutional buyers at 3$ with a 3.50$ warrant is responsible dilution. Especially when considering the projects it will be funding.
I do not know how valid these short reports are but it shows a lot of volume:
https://otcshortreport.com/company/DMGGF
I do not really get who is selling. However, I can understand profit taking. I was in this for a few years and it was in the doldrums that whole time. Now however they have more prospects and successes then ever before. So I’m surprised that people are fleeing. Oh well I just keep buying.