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DMG Blockchain Solutions Announces Mining Results for February

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DMG Blockchain Solutions Announces Mining Results for February



Preliminary mining statistics for February have been announced by DMG Blockchain Solutions Inc., a vertically integrated blockchain and cryptocurrency technology business. With a realized hashrate of 0.88 EH/s, DMG mined 89.2 bitcoin. On February 28, 2023, DMG had 435.3 bitcoin in hand.

Delivery of New Miners

DMG now anticipates receiving its final shipment of 42 PH/s Bitmain S19 XPs in April 2023. Subject to receiving, installing, and operating the extra miners, DMG anticipates increasing its hashrate to 1 EH/s in April 2023 along with future mine enhancements.

Future Development Will Be Supported by New Infrastructure

DMG has also finished buying air-cooled containers that, taken together, would sustain more than 40 megawatts of mining. According on the effectiveness of the most recent generation of mining rigs, this capacity may accommodate more mining than 1 EH/s. Delivery is currently being planned for DMG's Christina Lake data center. Even during the crypto crisis, DMG continues to invest in its future, according to DMG CEO Sheldon Bennett. Although we do not anticipate that the purchase will materially affect our cash position, we are strategically positioning ourselves to be prepared to quickly increase Terra Pool's network share and its mining capacity, either through the purchase of additional miners or through the provision of hosting services on a large scale.

Bank Deposit Exposure

At Silvergate Bank, Silicon Valley Bank, or Signature Bank, DMG has never held any deposits. Large banks ranked in the top 50 globally are where DMG keeps its funds.

Annual General and Special Shareholders' Meeting

Moreover, DMG declares that the date of its Annual General and Special Meeting (AGSM) is set for the final week of May 2023.

About DMG Blockchain Solutions Inc.

DMG is a blockchain and cryptocurrency corporation that is vertically integrated, environmentally sustainable, and that manages, operates, and creates full-cycle digital solutions to monetize the blockchain ecosystem. Under the Core and Core+ strategies, DMG's sustainable companies are divided into two business lines and brought together by vertical integration. 

Future adjustments to the Bitcoin hash rate or network-wide mining difficulty rate could have a significant impact on DMG's ability to produce bitcoins in the future. The price of bitcoin as well as future operating results could therefore be significantly impacted.

Article Credit: GlobalNewsWire

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