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It was not much of a meeting. It was just a quick vote by the board to vote on a few items. However, they did say they are going to do a question and answer soon (beginning of January?)
DMG annual general meeting and special meeting of shareholders being held now (December 8th) at 11am PST.
204-272-7920
I have not done all the research on this but I have heard that
this company generates more revenue than RIOT has more power capacity than RIOT, has an ability to organically grow unlike RIOT so in the long run is a going to be a big winner in the space.
the big reason RIOT is where it is NASDAQ vs. TSXV.
Yeah I did, I am confused about it. Why sell miners to secure more miners? 3.4 million for them. Hopefully they tell us soon! I like this company but they have been in the penalty box for the stop order a year ago or so. Seems like they are breaking through now. Dmgi Compared to hive:
HIVE 190million market cap and 345million shares
DMGi has a 12mil market cap and 100,million shares
I guess I’m ignorant as to why DMGI is so low.
I’m finally in the green on this one so I sold a few today. I still have 130,000 though
This company is still only has a market cap of 12-13 million. They have many products and mines their own coin in their own facility. I’ve been watching them for a long while and so far they have been outstanding in their integrity.
DMG’s website
https://dmgblockchain.com
Finally some volume. This price is still low compared to the last time BTC was this high. It was 1.50$. Although that was with way more hype. It’s more subdued these days. So far this company has been pretty legit with frequent news and expansion. They seem to be in the right place (in expensive power) at the right time. They are mining their own coin. They are mining for others. They have software. My expectations are not to high though. Only slightly hopeful.
It looks as though crypto stocks are starting to pick up interest again. DMGI has been overlooked for a while now. Many say it’s extremely undervalued for a legitimate company that has quite a few crypto projects. What do you all think? Is this the beginning of another crypto run? Or just another meaningless blip?
Nice presentation of DMGI’s efforts as of late.
https://dmgblockchain.com/static/media/DMGInvestorDeckMay2020.980b851c.pdf
Nice they did what they said they were going to do. Which is not always the case in the OTC.
With the latest damn failures in Michigan people are even more suspect in AK about this project. We all know it’s only a matter of time before dams fail. Except this time the flood will wipe out one of the last remaining giant salmon runs in the world.
Conference call today. For Information and zoom address see below:
DMG Provides Positive Business Outlook, Raises Self-Mining Compute Power Target
VANCOUVER, British Columbia, May 19, 2020 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF:OTC US) (FRANKFURT:6AX) (“DMG” or the “Company”), a diversified blockchain and technology company, is pleased to present its new corporate presentation including the Company‘s updated operational business outlook.
In advance of its conference call tomorrow, DMG is providing an update on its outlook and plans for the fiscal years 2020 to 2023. DMG has raised its financial expectations to reflect stronger than anticipated market developments, with an expectation that trends will continue to significantly favor DMG’s business model in the years ahead, while remaining competitive in an increasingly innovation driven and energy cost dependent bitcoin mining industry.
The Company expects its self-mining compute power to increase following the strong growth in bitcoin price. As a result, the Company is now raising its business projections accordingly.
Increasing self-mining compute power will require the Company to secure sufficient capital through equity, debt, or joint ventures in order to purchase additional miners, add more megawatt capacity to the Company’s existing mining facility, and potentially acquire a second or third mining facility.
Self-Mining Division
DMG intends to expand its self-mining efforts with a goal to becoming one of the largest North American bitcoin mining companies by compute power. 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 forecasts that approximately 65% of its mining capacity at its facility will be for self-mining by the end of 2021.
DMG’s forward-looking forecasts are based on adding self-mining compute power on a consistent basis over the next three years. DMG will acquire mining hardware at regular intervals (subject to securing sufficient capital to make such purchases) 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.
Hosted Mining
DMG currently serves a variety of hosted mining clients and intends to significantly grow its hosted mining operations by encouraging existing clients to upgrade their miners, and to add additional hosted mining clients through its business development and marketing efforts.
Other Business Divisions
DMG continues to develop and license its proprietary software products including Mine Manager, Blockseer, and Walletscore, and is currently working to merge Blockseer and Walletscore into a single platform. In the near future, DMG will provide more comprehensive details on these software products.
‘Wazabi’ is still in the early stages of development and has not yet been commercialized. Soon DMG will also provide more comprehensive details on Wazabi’s progress and outlook.
Competitive Advantage
DMG owns its own 84MW substation and currently has in place infrastructure to support 45MW of mining. DMG’s mining team is one of the most experienced globally, and its Mine Manager software ensures tremendous data centre uptime and efficient service and maintenance processes.
DMG expects to employ various methods in order to expand its self-mining and hosted mining capacity. These may include outright purchasing of mining hardware, financing, or strategic partnerships with various OEM manufacturers and investors.
Conference Call
Daniel Reitzik, the Company‘s CEO, states: “We look forward to providing our shareholders, partners, and other stakeholders with an update on the Company’s current and future efforts. Please join us tomorrow at 9:00 a.m. PST by logging on to: https://us02web.zoom.us/s/81091822055?pwd=N2Y1MWJ0SmwzZ0NkK091cy91TnNwdz09
-Password: 851780”
DMG intends to share its new presentation and to explain and discuss its recently announced new mining overview. (To access PDF versions of both documents, please go to www.dmgblockchain.com/investors). The Company will host a presentation on Wednesday, May 20, 2020, at 9:00 a.m. PST, and DMG’s CEO Dan Reitzik, COO Sheldon Bennett, and CTO Adrian Glover will provide a more detailed business update during that call.
To join the event, please use the above-mentioned Zoom link (and please call in approximately 10 minutes in advance to participate in the live call). Alternatively, you will have the opportunity to listen to the conference call afterwards by accessing an archived version of the call on the Company‘s website (to submit questions before the call to management, please email John Martin at investors@dmgblockchain.com).
Yes! Hopefully some good news breaks it out further. I’m still in the red but another day like this and I should be OK. I am holding this one for the long haul though.
Wow! I’m glad I stayed with it.
I appreciate your perspective. Is Natural gas really available in that area? Seems unlikely to have the amount needed. We already pay as much for natural gas as we do fuel oil in South Central AK. It’s expensive.
All the other roadblocks to success, the pebble mine project has, none compare to the need for power. They would have to build a small nuclear power plant or some other craziness to find enough energy to do this mine.
Plenty of people unloading their shares which is normal after a gain like the last few days. The good news is somebody is there catching them all. At least in this moment.
Just pure speculation but could they be selling themselves to bitmain? Probably not.
I have no idea if any of this is true or not. I found it posted on stockhouse by Cstovin:
For those on Linkedin, DDeadlock at MicroCap.com makes a solid case comparing DMGI and HIVE. Says DMGI at 14 cents has a fair value in the range of 30 to 40 cents. Based upon HIVE's current valuation near $140 Million. DMGI has notably more mining capacity yet a market cap below $15 Million. www.DMGBlockchain.com www.linkedin.com/in/dannydeadlock
I personally think this could easily be worth more than 40 cents if HIVE is worth $140 Million. But let us see first if it can hit 30 before month end.
As much as it’s gone up myself and others still have a ways to go to break even. I am not selling until I have a profit. I still wonder where all this buying pressure is coming from. Can it be the resurgence of the crypto craze!
I just found this article as well. Thanks for posting. I wonder if this is really driving the buying or if it’s something/someone else. They definitely needed to upgrade their mining rigs. This is next level for sure.
Does anyone have any idea what’s going on with this? Lots of shares changing hands lately.
Yeah I believe so but it does not generate much income. They are very responsive to questions if you reach out to them.
This is what they told me recently:
Wazabi is the cannabis supply chain management platform. DMG works with IBM to provide about 90% of the development work based on previous AI and Blockchain driven platforms they have built that are for similar purposes.
1. FoodTrust - initially built with Walmart and now used by Tyson, Kroger and many others globally. This platform provides supply chain management for organic and leafy green foods, and traceability in the event of recall
2. TradeLens - initially built with Maersk and now used by most global shipping companies. This platform is used to track shipping containers and automate the customs requirements by different countries
Wazabi is a combination of these two platforms in that we have traceability and provenance of products, and also automation of regulatory reporting such as what is required by Health Canada
It makes sense to work with a global technology company to utilize platforms that they have already successfully deployed. Wazabi / DMG is primarily the business development side of Wazabi for obvious reasons - its a cannabis project which US based Fortune 100 companies do not publicly work on
It really is unbelievable considering Ted and other said they were such great leaders. I got out with a huge loss 20+ thousand a while ago. I keep thinking I’ll make it back when I jump back in but who knows when that will be.
breathes new life into the sector and elevates DMGGF to North America’s top dog
The world’s most dominate bitcoin player, Bitmain, counts on DMGGF to operate its Rockdale, TX, mine, which will become the world’s largest.
DMGGF is partnering with IBM on an advanced blockchain that could be the gold standard for managing all aspects of the global cannabis supply chain.
DMGGF has completed construction of its own 85MW power station allocated for its bitcion mining services.
There’s a huge reason why DMGGF is thriving in bitcoin’s nuclear winter: it has no debt and is raking in $10+ million a year in revenues.
But, the IBM deal alone makes this the perfect Buffett-investment moment. For, as he said, “Be greedy when others are fearful and fearful when others are greedy.”
The bitcoin/blockchain craze was pure insanity. There’s still plenty of fear to go around.
But, among the ruins, there’s a quiet corner where the sector’s few survivors are thriving.
Because of that, cautious investors could discover elite companies that look set to finally deliver on bitcoin/blockchain’s awesome profit potential.
Certainly, among the best of these survivors are two of the world’s biggest companies, New York state-based technology giant IBM (NYSE:IBM) and a Beijing, China-based behemoth Bitmain Technologies.
And while the two huge companies have little in common, their needs intersect in Vancouver, at a leading edge bitcoin/blockchain company called DMG Blockchain Solutions (TSX-V:DMGI, OTCQB:DMGGF).
Secret until now, we’ve found an interview with DMG CEO Dan Reitzik, in which he lets huge news slip. The website on which he spilled the beans, is so tiny it has eluded most of the influential blockchain and cannabis investors.
You’re among first to read this news, IBM is partnering with DMG Blockchain in hopes of developing the preeminent blockchain that will manage the global cannabis market.
The two companies are evenly splitting responsibility for bringing the global cannabis blockchain to life.
IBM and DMG Combine To Make A True Blockchain Investment
DMG will develop the blockchain – it’s already poured $3 million into the process. And IBM will use its massive global marketing and salesforce to sell the blockchain service worldwide.
The idea that IBM would hook up with a small company is a standard tech sector move. A small company develops a cutting edge technology, and a giant such as IBM – or like Facebook did with snapchat, or Google did with YouTube – moves in to make the technology famous and indispensable.
And, there will never be a better time to rollout cannabis supply blockchain, because Cannabis’ worldwide market is forecast to grow to $66 billion in the five years.
The company that sets the supply-chain management standard during the next 12 months could see its technology generate $100 million or more by 2025.
This is why cautious investors don’t even have to make a move now on DMG Blockchain (TSX-V:DMGI, OTCQB:DMGGF).
That’s because DMG’s deal with IBM will likely roll out steadily, and generate revenues that could double or triple each year.
And, there’s no denying that sector madness dragged DMG Blockchain’s shares to what is likely their lowest price ever, last traded at .10 cents as of Friday, October 18th 2019.
One Burned, Twice Shy, Should Not Let DMG-IBM Pass By
That’s why it’s understandable that the warriors of the initial bitcoin/blockchain trend will be more cautious this time around.
The good news is that what DMG Blockchain and IBM are developing offers a prodigious opportunity, whether now, or in eight months.
That’s because just as there is one blockchain that manages bitcoin globally, there should be a single blockchain that manages cannabis globally.
The DMG cannabis blockchain would be the backbone that connects the supply chain, and ensures that the products in the marketplace are tracked, traced right down to the genetic makeup of each cannabis, or CBD, strain.
With DMG’s blockchain, a problem, such as a finding all the products in a recall, that would have once taken three weeks to do, would now take as little as three seconds.
Finally, with IBM on board to get the word out, DMG Blockchain (TSX-V:DMGI, OTCQB:DMGGF) could be positioned to be another legendary tech sector moon shot. Though halfway to the moon would be a massive payday.
The Eyes Of Texas Are On DMG Blockchain
So, while its IBM deal offers a remarkable opportunity, as we learned in today’s mega announcement, the fact that DMG Blockchain is trusted by a global powerhouse such as Bitmain is perhaps the most solidified massive stamp of approval in this industry that a company can get.
In fact, DMG Blockchain’s deal with Bitmain is part of an important community revival story in Rockdale, Texas.
Rockdale was a classic one-industry town. That industry was Alcoa’s massive aluminum smelter. The smelter was supported by a huge coal-fired power plant.
Last year, the power plant that had been limping along finally closed. Between the closing of the smelter and the plant, 1,700 jobs disappeared; the largest employers in Milam County were now closed, and it lost 30 percent of its tax revenue.
As the Dallas Morning News reported, Bitmain invested $500 million in Rockdale and could eventually employ 400 to 500 people.
More importantly from an investor’s standpoint, Bitmain will be paying DMG Blockchain millions a year just to manage its Rockdale mine.
Because DMG is debt free, that fee helped build a 27,000-square-foot, 85 MW crypto mining operation on 34 acres in British Columbia
The facility, one of North America’s largest, is currently running 60MW and uses clean hydroelectric power.
The green-powered crypto mine took nearly a year to complete The build out included building a road and installing a power substation.
To put DMG’s power generation into perspective, if it weren’t mining bitcoin, DMG would generate enough electricity to power a city of 50,000 homes.
Whether Now, Or In The Coming Months, Ultimately There Are 7 Strong Reasons To Look Closely At DMG Blockchain (TSX-V:DMGI, OTCQB:DMGGF)
A partnership with IBM is the tech-sector equivalent to a ticket to the Super Bowl.
Because cannabis is forecast to become a $66 billion global business in the next five years, a DMG-IBM blockchain for the cannabis supply chain could be worth $100 million in revenues a year, or more.
The cherry on the top is today’s announcement. Bitmain, the world’s biggest bitcoin miner, has trusted DMG Blockchain to manage its Rockdale, TX, mine – it is scheduled to become the world’s biggest bitcoin mine.
Digital payments have become a mainstay in the life of nearly all consumers. Research forecasts that growth in digital payments will climb to more than $1 trillion by 2020. A lot of that will be bitcoin payments.
The stocks of companies in the bitcoin/blockchain sector have been pummeled. Prices are way down, but the world is discovering the sector’s survivors.
DMG Blockchain is debt free and revenue positive.
That has allowed DMG Blockchain to build its own 85MW hydroelectric substation. It’s one of the largest in North America and is already home to more than 10,000 miners.
Bitcoin and blockchain were knocked silly in 2019 and down for the count.
But, the survivors are off the mat on their feet and thriving.
DMG Blockchain is a survivor and we believe the company is well positioned to become one of the top players in the industry.
That’s why the smart move today is to add DMG your watch list. That’s because DMG Blockchain Solutions (TSX-V:DMGI, OTCQB:DMGGF) looks like a tech sector legend in the making.
——————————————————————-
BuyBlockchain.net is owned by MILLIONAIRE MEDIA LLC., a Nevada Corporation that has been not been compensated to publicly disseminate information about DMG, its products and services for potential customers and that while the company is publicly listed and its shares can be bought and sold, the purpose of this advertisement it to present information and awareness about DMG and its products and services. We own zero shares.
Did you find apk for android? You can find new Free Android Games and apps.
I doubt Warren Buffet even knows about DMGGF. But here’s the article anyway.
https://www.buyblockchain.net/blockchain-news/bitcoin-news/take-warren-buffetts-best-advice-and-be-ready-to-pounce-on-this-years-top-bitcoin-blockchain-company/
thanks...I appreciate your efforts to be real.
Sorry y’all. I’m out. RS looks like it’s real. Excuses are the dominant discussion point with Joey. How much longer can we be fooled? I’ll take my 50,000$ loss and move on.
In case you have not heard this news: DMG has entered into a preliminary agreement with Bitmain Technologies (“Bitmain”) to provide hosting and management services for Bitmain’s Texas facility.
Highlights:
Bitmain is the industry-leading fabless manufacturer of computing chips
Bitmain has been developing a facility with 300MW in Texas
DMG selected to manage and assist Bitmain with expansion and overall management
VANCOUVER, British Columbia, Oct. 21, 2019 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF:OTC US) (FRANKFURT:6AX) (“DMG” or the “Company”), a diversified blockchain and technology company, is pleased to announce that after an extensive selection process, it has entered into a preliminary agreement with Bitmain Technologies (“Bitmain”) to provide hosting and management services for Bitmain’s Texas facility.
50MW of power are currently available, with the potential to expand to 300MW, making it one of, if not the largest bitcoin mining facilities in the world. Bitmain and DMG will work together to expand the capacity and to ensure efficient operations of Bitmain’s newest technology ASIC miners.
DMG’s CEO, Dan Reitzik commented, “Being chosen by the world’s leading bitcoin mining company is a great testament to the capabilities of DMG’s mining team. Over the past several months, Bitmain visited many large facilities throughout North America including DMG’s flagship facility in British Columbia, Canada. We look forward to working together to build and manage North America’s largest and most efficient mining facility, running the world’s most advanced crypto mining technologies.”
“This mining facility marks a major milestone in the development of the mining farm industry. We are proud to partner with Bitmain, the leading innovator in this sector”, said Sheldon Bennett, COO of DMG, which will manage and operate the mining facility in Texas. “Having led large projects in Alberta and recently completing DMG’s 60MW facility, this 300MW facility is an exciting opportunity for DMG to truly demonstrate economies of scale. While the task of managing what we believe will be the world’s largest bitcoin data centre is daunting, we are confident that together with Bitmain, we will complete on time and on budget.”
DMG is not providing additional capital for the construction of the facility, but instead is providing Facility Management, Expertise and Experience to the partnership. A long-term definitive agreement is expected by end of 2019.
Bill Zhu, Managing Director Global Marketing Sales & Services for Bitmain commented, “Bitmain is the industry-leading fabless manufacturer of computing chips, developer of the most advanced cryptography computing technology, and operator of the leading mining pools. We take our global leadership role very seriously, and as such, we are delighted to engage DMG as our facility partner. DMG has consistently demonstrated an ability to expertly engineer and construct large scale crypto mining data centres, as well as to navigate the regional political and corporate landscape to ensure widespread acceptance of our new, energy consuming industry.”
Read more at https://stockhouse.com/news/press-releases/2019/10/21/bitmain-selects-dmg-to-manage-north-american-facility#jte0EGhiZbKuv2la.99
Just some possibilities-things are moving fast in the crypto space:
“Will Bitmain buy out DMGI? Definitely, interesting events are happening. Patience will be key for the longs here. Here is a tweet from DMGI: Chinese cryptocurrency mining giant Canaan Creative has filed to be a publicly-traded company in the United States. On Oct. 28, Canaan Creative filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC) to raise $400 million, while planning to be listed on the Nasdaq under the ticker CAN. Canaan reportedly filed a $200 million IPO draft request with the U.S. regulators in July, but the formal F-1 form was not made public until today. If successful, Canaan, which is one of the three major Chinese crypto mining companies alongside Bitmain and Yibang International, could become the first China-based mining firm to be publicly traded in the U.S. Bitmain already filed to list an IPO with the U.S. SEC in June 2019, following the expiration of its IPO listing application with the Hong Kong Stock Exchange in March. According to the SEC filing, Canaan generated $394 million in revenue in 2018, with a net income of $8.3 million. However, the designer and manufacturer of Bitcoin mining machines has experienced a total comprehensive income loss of $45.8 million in 2019. Canaan competitor opens the worlds largest mining farm Canaans biggest competitor Bitmain opened what it claimed to be the worlds largest facility for Bitcoin (BTC) mining in Rockdale, Texas, which was completed thanks to a collaboration with the Rockdale Municipal Development District and Canadian technology firm DMG Blockchain Solutions. Clinton Brown, Rockdale lead project manager for Bitmain, said that the facilitys launch is significant to Bitmain's global expansion plans and that the states stable and efficient energy resources will be fundamental to supporting what he believes is set to be the inevitable scale of growth of the mining industry.b”
Read more at https://stockhouse.com/companies/bullboard#A6Sq3u4vvCm8erEs.99
https://stockhouse.com/news/press-releases/2019/10/21/bitmain-selects-dmg-to-manage-north-american-facility
Bitmain Selects DMG to Manage North American Facility
Highlights:
Bitmain is the industry-leading fabless manufacturer of computing chips
Bitmain has been developing a facility with 300MW in Texas
DMG selected to manage and assist Bitmain with expansion and overall management
VANCOUVER, British Columbia, Oct. 21, 2019 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF:OTC US) (FRANKFURT:6AX) (“DMG” or the “Company”), a diversified blockchain and technology company, is pleased to announce that after an extensive selection process, it has entered into a preliminary agreement with Bitmain Technologies (“Bitmain”) to provide hosting and management services for Bitmain’s Texas facility.
50MW of power are currently available, with the potential to expand to 300MW, making it one of, if not the largest bitcoin mining facilities in the world. Bitmain and DMG will work together to expand the capacity and to ensure efficient operations of Bitmain’s newest technology ASIC miners.
DMG’s CEO, Dan Reitzik commented, “Being chosen by the world’s leading bitcoin mining company is a great testament to the capabilities of DMG’s mining team. Over the past several months, Bitmain visited many large facilities throughout North America including DMG’s flagship facility in British Columbia, Canada. We look forward to working together to build and manage North America’s largest and most efficient mining facility, running the world’s most advanced crypto mining technologies.”
“This mining facility marks a major milestone in the development of the mining farm industry. We are proud to partner with Bitmain, the leading innovator in this sector”, said Sheldon Bennett, COO of DMG, which will manage and operate the mining facility in Texas. “Having led large projects in Alberta and recently completing DMG’s 60MW facility, this 300MW facility is an exciting opportunity for DMG to truly demonstrate economies of scale. While the task of managing what we believe will be the world’s largest bitcoin data centre is daunting, we are confident that together with Bitmain, we will complete on time and on budget.”
DMG is not providing additional capital for the construction of the facility, but instead is providing Facility Management, Expertise and Experience to the partnership. A long-term definitive agreement is expected by end of 2019.
Bill Zhu, Managing Director Global Marketing Sales & Services for Bitmain commented, “Bitmain is the industry-leading fabless manufacturer of computing chips, developer of the most advanced cryptography computing technology, and operator of the leading mining pools. We take our global leadership role very seriously, and as such, we are delighted to engage DMG as our facility partner. DMG has consistently demonstrated an ability to expertly engineer and construct large scale crypto mining data centres, as well as to navigate the regional political and corporate landscape to ensure widespread acceptance of our new, energy consuming industry.”
About DMG Blockchain Solutions Inc.
DMG Blockchain Solutions Inc. is a diversified blockchain and cryptocurrency company that manages, operates and develops end-to-end solutions to monetize the blockchain ecosystem. DMG, with its Blockseer division located in Silicon Valley, intends to be the global leader in industrial scale crypto mine hosting – Mining as a Service (MaaS), crypto mining, blockchain forensics/analytics, and blockchain platform development.
For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
On behalf of the Board of Directors,
Daniel Reitzik, CEO & Director
For further information, please contact:
DMG Blockchain Solutions Inc.
Media Contact: Rick Mullikin, Rocket Science PR (for DMG Blockchain)
rich@rocketscience.com +1-925-354-7444
Investor Relations: John Martin
Toll Free: 1-888-702-0258
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
Direct: 778-868-6470
Nice summary someone wrote up to make your research easier.
Currently Generating 1 million a month in revenue 14% utilization of there mining facility at full capacity it will generate 20 million a quarter from mining services facility has already been built. Tens of thousands of miners looking to relocate to DMG facility from china.
Fly by of the facility:
DMG Mine $DMGI #bitcoin #TSXV pic.twitter.com/asq7fnA08R
— DMG Blockchain Solutions (@dmgblockchain) September 5, 2019
At some point the market will catch up with this company. 1 million a month gross revenues with their mining operation (people pay them to mine bitcoins). They are also mining their own bitcoins. The have forensic blockchain software making money. They have Wazabi (with IBM) which has potential to make a lot of money...but it is the OTC so?
The company was vetted by Canadian regulators for 6 months while it was restrifrom trading so?
There is one lawsuit from a disgruntled employee but that’s pretty tame really.
DMG Provides Mining & Forensics Updates
Highlights:
Increasing Bitcoin prices drive new interest in mining
Forensics division continues to gain new customers
VANCOUVER, British Columbia, September 4, 2019 — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF:OTC US) (FRANKFURT:6AX) (“DMG” or the “Company”), a diversified blockchain and technology company, is providing an update and overview of its crypto-mining operations and its forensics division.
Crypto-Mining
DMG constructed an 85-megawatt substation to power its flagship facility in eastern British Columbia, which is one of the largest such facilities in North America. To put that into perspective, 85MW is enough to power a city of 100,000 people. As a company, DMG chose to primarily invest in long-lived assets, including infrastructure and power distribution, as opposed to short-lived, capital-intensive mining equipment. DMG’s facility currently contains an 85MW high voltage substation with 60MW of mid-voltage transformers.
DMG’s property is approximately 32 acres with a 27,000 square foot building in place. The facility can house 45MW of servers with the remaining 15MW being housed using proprietary modular containers. DMG primarily hosts mining equipment for third party clients from North America and Asia, and is currently providing approximately 15MW for clients and itself, generating approximately $1,000,000 in monthly gross revenue.
With the roll out of the next generation of crypto miners, more efficient miners are expected to be widely deployed in late 2019 and DMG is currently in discussions with multiple parties to host their latest technology servers.
One of the great advantages of owning its own substation is DMG’s flexibility in its power consumption. This essentially gives DMG many choices on how to operate its power needs, similar to utilities. Due to DMG’s power infrastructure it can also purchase power from third-party providers outside of standard utility pricing. As well, DMG’s software team has added considerable automation to DMG’s proprietary crypto management software. This software can increase and decrease the power consumption of crypto servers based on real time factors such as heat and time of day. This allows DMG and its customers to overclock servers to produce more revenue at cooler temperatures so there is less need for costly HVAC systems. The software also identifies physical locations of servers in need of repair and what exactly needs to be repaired so that staff technicians are efficient in finding, repairing and returning servers back to operations in the shortest time.
With the price of bitcoin having increased substantially over the past nine months, DMG is receiving more interest from potential clients for hosting contracts. DMG primarily hosts mining equipment for third parties and their bitcoin is sent to their crypto-wallets. For DMG’s own mining, bitcoin is sent to a company-controlled wallet, residing off-line in a hardware wallet which is kept in a safety deposit box at all times with a minimum of two people required to access it.
By 2019, DMG has become one of the leading crypto-mining companies providing hosting services, forensics and data analytics expert, as well as the lead developer of Wazabi, the AI- and Blockchain-based cognitive platform developed to manage the global cannabis supply chain.
Walletscore and Blockseer
DMG has capitalized its research and development to launch its newest software product called “Walletscore” which is a real-time crypto focused anti-money laundering tool for Bitcoin and Ethereum.
In early 2018 DMG acquired Datient Inc, based out of Silicon Valley and led by Danny Yang. One of the reasons DMG acquired Datient was for its technology known as Blockseer, which allows investigators to track bitcoin transactions both upstream and downstream. Blockseer had been used by various law enforcement agencies for five years and as such the data collected includes very valuable and accurate labelling of transactions and wallets involving scams, frauds, thefts, dark web purchases, etc.
Walletscore is a web interface and API used by financial institutions, exchanges, and private banks which provides a risk score associated with transacting with potentially tainted crypto wallets, thus reducing the probability that DMG’s clients will be involved with wallets that have previous money laundering or other criminal activity. Walletscore combines its data with that from Blockseer to perform these functions. Walletscore was recently launched in Europe, and more than 25 financial institutions are now testing this technology.
During 2019, DMG was engaged by a leading audit firm as a technical expert on crypto mining, transactions and asset impairment. Additionally, DMG was engaged by one of the world’s largest crypto mining companies to assist with their public audit. DMG uses a combination of its Walletscore and Blockseer technologies and data analytics expertise to help determine accurate information and reporting.
In addition, in recent months DMG has been hired by various law firms to provide technical reports relating to ICO (initial coin offering) investigations concerning the source of funds and where funds are presently. As a result, DMG’s forensic division has generated more than $250,000 in consulting revenues in the past few months.
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About DMG Blockchain Solutions Inc.
DMG Blockchain Solutions Inc. is a diversified blockchain and cryptocurrency company that manages, operates and develops end-to-end solutions to monetize the blockchain ecosystem. DMG, with its Blockseer division located in Silicon Valley, intends to be the global leader in industrial scale crypto mine hosting – Mining as a Service (MaaS), crypto mining, blockchain forensics/analytics, and blockchain platform development.
For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
On behalf of the Board of Directors,
Daniel Reitzik, CEO & Director
For further information, please contact:
DMG Blockchain Solutions Inc.
Investor Relations: John Martin
Toll Free: 1-888-702-0258
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
Direct: 778-868-6470
Lots of frustrated dumpers on Canadian side. Over 3,000,000 shares traded/absorbed. I guess people wanted in as well. Let’s see what happens tomorrow.
DMG Blockchain reinstated for trading
2019-08-29 17:27 ET - Cease Trade Company Rescinded
Further to the TSX Venture Exchange bulletin dated Feb. 4, 2019, the exchange has been advised that the cease trade order issued by the British Columbia Securities Commission dated Feb. 1, 2019, has been revoked.
Effective at the opening, Tuesday, Sept. 3, 2019, trading will be reinstated in the securities of the company.
I agree I was kinda confused as well! I hope I did not misrepresent. Who knows how long it will take The Toronto stock exchange to reinstate.
Looks like we still need the Toronto stock exchange to approve but the big hurdle is done.
? Cease Trade Order has been revoked after a detailed review by BCSC and OSC
? DMG adds experienced crypto-mining Independent Director
? DMG provides an update on legal proceedings between the Company and Chris Filiatrault
VANCOUVER, British Columbia, Aug. 29, 2019 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (DMGI.V) (DMGGF:OTC US) (6AX.F) (“DMG” or the “Company”), a diversified blockchain and technology company, is pleased to announce that the British Columbia Securities Commission, as principal regulator, has revoked the cease trade order (the “CTO”) issued against the Company as a result of the delay in the filing of the Company’s audited financial statements for the year ended September 30, 2018, and related filings (together, the “Filings”). The Company has applied to the TSXV for the reinstatement of trading of its common shares and anticipates it will resume trading shortly.