Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
70000000. Transaction completed. That was fast.
https://hcwco.com/transactions/
Ecopwrs expects its first site will be operational within 75 - 120 days from funding and will generate revenue for DMG from day one of Bitcoin mining operations. Ecopwrs’ overall business plan is to deploy approximately 25 sites, and DMG will be the exclusive Bitcoin mining operator for all sites.
Proceeds from the financing are to be used for infrastructure expansion and equipment purchases, investment in digital currencies,
potential acquisitions and partnerships, !!!
software development, the expansion of marketing, and working capital and general corporate purposes.
In case you are wondering what the fuss is about:
DMG Blockchain (TSXV: DMGI) this morning announced that it will be conducting a large financing. The firm will look to raise C$70.0 million via a private placement that is to be conducted with US based institutional investors only.
The financing will see the company issue 23.3 million units of the company, with each unit containing one common share and one half warrant at a price of $3.00 per unit. Each warrant is valid for three years following the date of issuance at an exercise price of $3.55 per common share.
Proceeds from the financing are to be used for infrastructure expansion and equipment purchases, investment in digital currencies, potential acquisitions and partnerships, software development, the expansion of marketing, and working capital and general corporate purposes.
The financing is currently slated to close March 5, 2021.
DMG Blockchain last traded at $3.52 on the TSX Venture.
Admittedly I did sell last Friday thinking Bitcoin was going down. I was wrong and disappointed until today. I am buying now anyway.
I doubled my share count today. Yesterday it almost was over 4dollars at the high. Awesome volume (compared to early on where we were lucky to get 100,000 shares traded) BTC needed a reset it was going up to fast.
Good luck all.
Canada halts trading more than the US it seems. Especially when there is a frenzy to buy or sell.
Yeah I was around back then too. It was a painful couple years. We always thought it was undervalued. I guess I still do because I bought more today.
I hope you did ok. MYDX can be a wild ride. Good luck to you too.
I’m still holding! Things seem to be lining up for something. It definitely went up too fast to soon.
GREAT NEWS RELEASE. 1.0 EH/s of the newest generation of mining equipment specific to immersion cooling and 2.0 EH/s in the second half of 2021.
DMG is gearing up to become sucessful.
VANCOUVER, British Columbia, Feb. 16, 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, is pleased to announce updates and plans for its infrastructure and immersion cooling deployment initiative at its flagship cryptocurrency facility in anticipation of adding additional miners.
As previously reported, the Company has sufficient funds on hand to complete the retrofitting of the first 30 megawatts of infrastructure to immersion cooling, which will increase the Company's future bitcoin mining capacity to approximately 1.0 Exahash (EH/s) when complete as planned in the first half of 2021. Immersion cooling requires approximately 30% less bitcoin miners than air cooled for the same hashrate, leading to significant capital cost reductions over air cooled systems.
DMG expects completion of the facility’s retrofitting of the next 30MW to reach a total of 60MW in the second half of 2021. Upon completion of the infrastructure and retrofitting upgrades and access to power supply, DMG’s facility will then have a future capacity for approximately 2.0 Exahash of immersion cooled Bitcoin mining utilizing 60MW of power.
In anticipation of the retrofitting timelines, DMG is currently in discussions with leading Bitcoin mining equipment manufacturers for a purchase order that would give DMG the right to purchase, in stages, a minimum of 1.0 EH/s of the newest generation of mining equipment specific to immersion cooling. Various manufacturing companies are developing specific immersion cooling Bitcoin miners which DMG has been reviewing for the optimal purchase for its retrofitting.
The future deployment of at least 1.0 EH/s of immersion cooled mining in the first half of this year is expected to occur in stages based on the amount of capital raised through equity and/or debt financing.
DMG's COO, Sheldon Bennett, commented:
“DMG’s self-mining strategy is to deploy capital into the most efficient technology possible to ensure the best possible ROI on miners and greatest revenue potential over the life of the hardware. Upon the formalization of the Digital Currency Miners of North America (DCMNA) pool, DMG will connect all its miners to the DCMNA, thus increasing mining margins. Depending on the size of the purchase order(s), DMG may seek financial instruments to aid in completing this deployment of new miners.”
A large-scale purchase of mining equipment is subject to certain conditions including, but not limited to, DMG having sufficient funds to complete the purchase and the execution of a definitive contract setting forth the terms and conditions. Depending on the size of the purchase order, DMG may need to raise funds through the issuance of equity and/or debt financing.
The Company expects COVID-19 to affect the availability and timing of mining equipment, including increased shipping costs. If additional mining equipment is purchased for the Christina Lake facility, the Company expects longer than normal delivery times. As a result of this (which is happening industry-wide), DMG is using this time to upgrade its facility to be prepared for this future deployment of Bitcoin miners.
In addition to the physical retrofitting of the Christina Lake data centre, there are specific major components that are underway in parallel, to ensure the best operational performance from capital investments.
In order to ensure that the retrofitting and the addition of new infrastructure at the Christina Lake data center maintains DMG’s timelines, the Company has selected a British Columbia construction and manufacturing firm to oversee design, procurement, proprietary manufacturing and installation during this project. This will greatly aid DMG during the Covid-19 constrained supply chain challenges that most companies are facing in this industry.
“DMG’s goal is to be the most efficient and technologically advanced mining company in the entire Bitcoin mining industry,” said DMG’s COO, Sheldon Bennett. “Our immersion cooling deployment initiative is just the beginning of numerous technological innovations to be developed and implemented by DMG as part of our rapid growth strategy in the coming years, and the best is yet to come.”
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.
It’s holding up great considering the overall Cannabis market is way down.
This is the future. By focusing on Immersion cooling and owning their own facility (with power agreements) DMG is lining itself up to not only do more mining themselves but continue to host miners. When the price goes down in BTC they can still be profitable.
It’s true because of my personality (for better or worse) I always bought more the more negative they became. I am loyal to a fault. I guess it’s paying off now though. At one time I was down $150,000.
I really got into the company and wanted to support it as a way to make the world better (ORGDX). I suck at stocks though so don’t listen to me.
The shortest and competitors who have been hammering this company day after day after day for years are loosing and finally being exposed for losers. MYDX would be a far different company and possibly quite successful without their daily intentions to destroy it.
If you like,to get your info from you tube this guy goes over DMGI
Glad you are still here Rosstafari! It’s been a while since we celebrated a positive here. I have been holding and buying and waiting.
Yeah so many of the other miners are rallying and DMG has cannabis interests and BTC. They have a long term outlook m0re than most.
Maybe they are diluting? But so far there’s no proof of that.
The shorts will have to buy at some point and if we hold the line that may come sooner than later.
50% of the volume being shorted:
https://otcshortreport.com/company/MYDX?fbclid=IwAR1Yk4FWZTtwCWMZx2yw71efBSlE8-hr-fqLyI1tzgcggRWOix5wfZkenBU
Over 200 million shares.
The last time BTC had a run, DMG did nothing and then rocketed up. We might see that again. Or if the shorts keep working it maybe not. At some point they have to buy. This is a crazy market to short in.
Almost a million shares shorted.:
https://otcshortreport.com/company/DMGGF
I had that same question?
I could be wrong but I do not think Visa works with scams. The approval process is arduous and they are at the finish line for that.
I’m so glad others are catching on and talking about DMGI. It was a lonely time for a couple years. I thought the tech and integrity was outstanding as well. I sold my shares after it went gain busters but am looking to by back in.
A credit card attached to your Bitcoin! This is going places.
That’s insane. I’m speechless. 100% whoa.
Finally we are getting more attention then HIVE. MARA is the other big player (along with RIOT) so for DMGI to be connected to MARA is huge.
Maybe there are institutional buyers getting in here. The volume is huge for just retail.
Thanks for clarifying. I don’t have time to watch the guy. All I know is that DMGI is a legit company as seen by the news today (organization they started with MARA). They say they are mining their own bitcoin. They also said they sold a lot this summer to pay off debt so they did not get today’s price:/
This news seems,to establish that DMGI is one of the big players in bitcoins,and blockchain in general. It’s about forming a nonprofit so it’s not as much about making hash money however. It sets the tone as who will be here to stay for the long term.
Here is the news:
Marathon Patent Group and DMG Blockchain Solutions to Form the Digital Currency Miners of North America (DCMNA) and Launch North America's First Cooperative Mining Pool
VANCOUVER, British Columbia, Jan. 05, 2021 (GLOBE NEWSWIRE) -- 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
https://themarketherald.ca/announcements/dmg-blockchain-solutions-inc-2021-01-05-8552974380104476/
As noted you may be very mistaken about this. DMG sold the equipment but they still get the hosting payments all while retooling their systems to liquid cooled...
“In May and June of 2020, the Company completed the installation and energizing of 1,240 MicroBT M30s ASIC miners, bringing an additional 112 PH/s to augment our self-mining operation.
In February 2020, the Company started research and development on Immersion Cooling technology.
In November 2020, pursuant to an agreement, 1,240 MicroBT M30s ASIC miners were sold to a hosting customer of the Company, and the Company now receives fees for hosting these miners at the Christina Lake facility.
Basically HIVE pays DMGI to mine for them.
I am not certain but I believe those where their old miners. They are now using more efficient ones. As noted in their latest press release.
This is from their latest press release:
In October 2020, the Company’s American subsidiary, Datient, Inc., unveiled the Bitcoin Mining Pool, Blockseer Pool, that the Company has been developing. As far as the Company knows, this pool represents the first and only Bitcoin Mining Pool focused on compliance and transparency.
In May and June of 2020, the Company completed the installation and energizing of 1,240 MicroBT M30s ASIC miners, bringing an additional 112 PH/s to augment our self-mining operation.
In May 2020, the Company appointed the Company’s CTO, Adrian Glover to the Board of Directors.
In May 2020, the Company closed a private placement for 1,481,500 units for gross proceeds of $100,000.
In February 2020, the Company started research and development on Immersion Cooling technology.
In November 2020, pursuant to an agreement, 1,240 MicroBT M30s ASIC miners were sold to a hosting customer of the Company, and the Company now receives fees for hosting these miners at the Christina Lake facility.
I have been here a while and find the company to be honest so far. They do say they do mining as noted in the most recent statement:
DMG’s flagship data centre operation is its Christina Lake Data Center. This location offers both hosted services, commonly referred to as Mining as a Service (“MaaS”), which allows DMG to host 3rd party servers as well as mine its own cryptocurrencies by self managing its equipment. DMG will continue its strategy to blend self-mining with hosted mining for third-party clients. This model allows the Company to earn consistent revenues from hosting, and at the same time benefit from surges in BTC value from self- mining. DMG continues to optimize and expand its self-mining efforts with a goal to become one of the largest North American bitcoin mining companies by compute power. DMG will continue to acquire mining hardware, subject to cost and profitability constraints, to ensure that the fleet includes the most efficient hardware available at all times and to avoid the need to replace the entire fleet simultaneously in the future. DMG also will continue to develop partnerships in blended hosted self mining models that will allow DMG to participate in the profit of Cryptocurrency mining beyond hosting.
I suppose it could be people selling before the new year for tax purposes. HIVE is down as well. Luckily Bitcoin is getting a lot of attention lately and is moving up. We will see what it does by the end of the day today.
Great article! I’m not sure why this isn’t rocketing today. BTC hit yet another all time high.
HIVE is slow as well if that means anything. We need some volume.
I’m glad I held onto some shares after shedding a few yesterday. DMGI is finally getting the attention they deserve and the volume remains huge (for them).
Congrats man! It was long wait but it finally paid off.
I was dumb enough to bail on RIOT back in the 1’s so don’t listen to me. I was just wondering why DMGI is so low when I heard they have equivalent mining equipment and a lower energy cost then riot. Maybe because it’s a Canadian company? It’s difficult to compare companies but it’s getting outrageous. Good luck all.