Screw it, double down man.
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DMG announces that it has established a relationship with Sygnum Bank, a Swiss bank specialized in servicing crypto-native companies, as a strategic banking partner providing US$9 million (equivalent) in a credit facility to increase its operational capacity ahead of the upcoming Bitcoin halvening expected in April 2024. The primary use of proceeds is for the purchase of 4,550 T21 190 TH/s bitcoin miners from Bitmain Technologies for US$12,103,000 (US$14/TH/s), which was previously announced in December 2023.
With a first financing tranche of US$5.6 million already disbursed, DMG has been able to fulfill part of its payment obligation to Bitmain without the need to liquidate its bitcoin holding. DMG believes that modest amounts of debt enable it to better optimize its balance sheet, especially as it can help maintain its healthy bitcoin holding as well as lower its weighted average cost of capital, both of which should be positive for shareholders. In addition to this US$9 million credit facility, DMG intends to use some of its existing cash towards the purchase of these miners from Bitmain.
The loan is interest bearing at an annual rate of 7.8% for an indefinite term. Sygnum has the right to terminate the agreement at any time, at which time the loan would be due immediately. The loan is secured against the Company’s digital currency assets of 237.8 BTC, which are pledged and deposited with Sygnum. Because the collateral is subject to fluctuations in value, the Company may be required to provide additional collateral in order to restore the security margin on the loan. DMG may repay the amount of debt outstanding at any time.
DMG’s CEO Sheldon Bennett commented, “We are very happy to announce this partnership with Sygnum as a strategic banking partner. We look forward to working closely with Sygnum Bank, as its mission includes decarbonization of the Bitcoin ecosystem, a value which we very much share.”
Néstor Palao, Sygnum Bank’s Head of DLT & Corporate Clients commented, “As we see our footprint in the Bitcoin mining ecosystem growing and including several leading publicly listed players, Sygnum is pleased to work with DMG Blockchain Solutions in providing tailored service for its banking and lending needs and support growth in carbon-neutral crypto asset mining.”
DMGGF up 12%
See you at $5.50…
Earnings call: Post having they need $32k to break even.
Still very confidant in software suite.
Will expand marketing next year.
We are “bullish” on Bosonic deal.
Looking at mining sites outside Canada.
Immersion cooling in the works.
Core+ updates coming.
On uplisting: “Percolating to the top of our agenda”
“Looking at it with renewed vigor.”
“M&a can increase the speed of uplisting.”
Originally bought here at $1 back when… started to nibble DMGGF as well. Nice day for both.
DMGGF is a small cap miner that’s basically follows these other miners charts.
Profitable as well. Only $58M market cap
Looking to double substation power!
2 exahash goal in 2022.
1 exahash bought already.
.5 exahash installed by Christmas.
Pool management licensing.
$MARA pool manager.
TERRA pool manager.
Wallets, exchange, Insured cold storage up to $5M.
$100M MC.
Watch @ViridiFunds Crypto Mining CEO Chats interview with Sheldon Bennett.https://t.co/wAAlzICPfw#Crypto $DMGI $DMGGF #renewableenergy #bitcoinmining #BTC
— DMG Blockchain Solutions (@dmgblockchain) December 15, 2021
DMGGF - TERRA POOL coming soon....
MARA pool running and Marathon licensed dmgblockchain pool software.
Insured wallets coming! 1 exahash purchased and installing.
Launching their exchange!
$100M MC.
Continued : CEO dmgblockchain "A few people have tried to acquire us in the past. Bigger companies, when they see our assets."
RIOT SOS BITF MARA..?
"We are looking at acquisitions of companies"
"We plan on running 2 Eh."
"Immersion cooling will save us 18%"
Mine update -
Worth over $1B
Boom - approval
The Ol’ sub $10 pick up.
Sub $10. REPEAT
Hahahahaha
DMG will be the Cisco Systems or Microsoft of the blockchain.
DMGGF The BetaShares Crypto Innovators ETF (CRYP) Australia keeps adding shares. They just bought 11,955 shares of DMG and now hold 382,545
Almost time again…..
Undervalued
Data is everything
I guess data is what matters short term
So is management just absolute trash here?
Covid pill legit?
Current burn rate means they have cash until 2030
Round 2. $1B valuation coming again.
Flipping has been fun, but news is coming.
Like clockwork.
$12 rinse….? Or do we see a run to $14.
Unlikely
Almost ready for a rinse.
Repeat
Waiting for Sub $11 repeat