DMG Blockchain Solutions Inc (DMGGF)

[PotterBanker]

DMG Blockchain Solutions Partners with Immersion Cooling Systems Company SixtyOneC to Co-develop the Most Cost-Efficient Crypto Mining

https://www.globenewswire.com/news-release/2019/05/16/1826228/0/en/DMG-Blockchain-Solutions-Partners-with-Immersion-Cooling-Systems-Company-SixtyOneC-to-Co-develop-the-Most-Cost-Efficient-Crypto-Mining.html

Highlights:

DMG and SixtyOneC intend to co-develop and co-market turnkey immersion cooling solutions optimized initially for the needs of cryptocurrency mining

DMG brings proven experience distributing power to crypto mining equipment at scale and leveraging its proprietary mine management software

SixtyOneC brings proprietary immersion cooling technology which enables much lower-cost per compute crypto mining vs stock equipment

VANCOUVER, British Columbia, May 16, 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, announced that it has signed a letter of intent with SixtyOneC Technology Corporation (“SixtyOneC”) to co-develop and co-market turnkey immersion cooling solutions optimized for the needs of cryptocurrency mining.

DMG brings proven experience distributing power to crypto mining equipment, most recently demonstrated at its 85-megawatt-capable mining facility in eastern British Columbia. The Company’s partnership with SixtyOneC will continue to advance state-of-the-art cryptocurrency mining technologies through the introduction of immersion cooling solutions.

SixtyOneC designs are cutting edge immersion cooling technology that increases the efficiency and performance of any computing hardware. By using state-of-the-art SixtyOneC technology, companies can increase the output of their computing hardware through a process called ‘overclocking.’ In a traditional air-cooled environment, this process will quickly cause hardware to overheat and malfunction. However, with SixtyOneC’s technology, hardware is safely pushed beyond a 50% increase in performance. This technology also allows for a significant increase in hardware density, lower electricity costs and near silent operation.

Sheldon Bennett, Chief Operating Office at DMG, stated, “By partnering with SixtyOneC, DMG gains a competitive advantage by offering solutions with more crypto mining power per dollar, accelerating DMG’s ability to expand its Mining as a Service (MaaS) hosting business while enabling its customers to enjoy greater profits. SixtyOneC’s technology also enables DMG to enter the HPC market with an immediate competitive advantage and scalability for rapid growth.” SixtyOneC CEO, Dieter Morgan, added, “DMG is an ideal partner, as it brings the data center and system-level expertise required to bring immersion cooling to the mainstream.

We look forward to a long-term relationship, which should be a catalyst for profitable growth for both companies.”

DMG and SixtyOneC intend to enter into a definitive agreement subject to completion of due diligence.

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: [e-mail]
Web: www.dmgblockchain.com
Direct: 778-868-6470

About SixtyOneC Technology Corporation
SixtyOneC Technology Corporation is a datacenter innovation company, looking to provide solutions to datacenters so that they are prepared for the exponential growth in compute requirements. By creating the world's predominant single- and two-phase immersion cooling systems, SixtyOneC has proven that its technology can increase datacenter output while lowering electricity consumption, reducing physical space requirements and significantly decreasing noise.
For more information on SixtyOneC Technology Corporation visit: www.sixtyonec.com

On behalf of the Board of Directors,
Dieter Morgan, CEO & Director
For further information, please contact:

SixtyOneC Technology Corporation

Investor Relations: Kevan Matheson
Email: [e-mail]
Web: www.sixtyonec.com