DMGGF - DMG Announces Operational Update Participation at Planet MicroCap Showcase on April 30-May 2 in Las Vegas | Benzinga
VANCOUVER, British Columbia, April 29, 2024 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSXV:DMGI) (OTC:DMGGF) (FRANKFURT: 6AX) ("DMG" or the "Company"), a vertically integrated blockchain and data center technology company, announces an operational update:
- Miner Deployment Plan: DMG has installed the first of its ordered 4,550 units of new Bitmain T21 miners, which when fully installed and operating, are expected to generate 0.86 EH/s with a miner efficiency of 19 J/TH. The Company still expects to have its T21 fleet fully installed and operating in the current quarter.
- Legacy Fleet Efficiency Improvement: To maximize its mining profitability post-halvening, DMG has improved its legacy fleet efficiency via software from 28.4 J/TH to approximately 26 J/TH with a commensurate reduction in hashrate from 1 EH/s to approximately 0.85 EH/s. Combined with its new fleet of T21s, the Company expects its blended fleet efficiency to be approximately 23 J/TH, delivering an estimated 1.7 EH/s by the end of the current quarter. The Company is targeting additional improvements as it redeploys its legacy fleet in the coming months to raise its overall fleet hashrate towards 2 EH/s.
DMG's CEO, Sheldon Bennett commented, "We are pleased with the progress toward our goal to augment our existing fleet with the addition of new generation T21 miners and expansion of our electrical infrastructure so that we can thrive in a post-halvening world. DMG is undergoing its largest and most rapid expansion to date, as we will have the electrical infrastructure in place when our current expansion is complete to grow our mining capacity to 3 EH/s."
DMG Management at Planet MicroCap Showcase, April 30-May 2, Las Vegas
DMG management will participate in the upcoming Planet MicroCap Showcase, scheduled for April 30 to May 2, 2024 in Las Vegas. The event will feature a presentation by DMG on May 1 at 8:30 am PT, providing insights into the company's latest achievements and future plans. The event will be webcast with viewing via advance registration.
CEO Sheldon Bennett and COO Steven Eliscu will also be available for one-on-one meetings on May 2, offering a unique opportunity for investors and industry peers to engage directly with DMG's leadership.
About DMG Blockchain Solutions Inc.
DMG is an environmentally friendly vertically integrated blockchain and data center technology company that manages, operates and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG's sustainable businesses are segmented into two business lines under the Core and Core+ strategies and unified through DMG's vertical integration.
These announcements underline DMG Blockchain Solutions' dedication ...