DMG Blockchain Solutions Inc (DMGGF)

[Alaskadug]

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)
[e-mail] [phone]

Investor Relations: John Martin
Toll Free: 1-888-702-0258
Email: [e-mail]
Web: www.dmgblockchain.com
Direct: 778-868-6470