DMG Blockchain Solutions Inc (DMGGF)

[Alaskadug]

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 [e-mail]).