- DMG Blockchain Solutions (DMGI) is pleased to announce the purchase of 2,450 Bitcoin ASIC miners from Bitmain
- This purchase is expected to add approximately 245 additional Petahash per second (PH/s) to DMG’s Bitcoin mining capacity
- DMG also expects these miners to contribute positively to the company’s revenues and cash flow
- Due to declining mining equipment prices in Asia, DMG purchased the equipment for 60 per cent less than it would have cost a month ago
- DMG currently holds approximately 260 Bitcoins
- DMG Blockchain Solutions Inc. (DMGI) opened trading at C$0.73 per share
DMG Blockchain Solutions (DMGI) is pleased to announce the purchase of 2,450 Bitcoin ASIC miners from Bitmain.
This purchase is expected to add approximately 245 additional Petahash per second (PH/s) to DMG’s Bitcoin mining capacity following anticipated installation by the end of August 2021.
Once fully installed and operating, DMG estimates that these miners (Antminer S19J Pro) will have a nine-month payback period which is well within the company’s stated 12-month return on investment (ROI) strategy for Bitcoin mining hardware. DMG also expects these miners to contribute positively to the company’s revenues and cash flow.
“DMG is capitalizing on the declining mining equipment prices in Asia by spot purchasing new-generation bitcoin mining equipment at an approximately 60 per cent lower price than just a month ago,” stated DMG’s CEO, Sheldon Bennett.
“While it was hard to resist purchasing Bitcoin miners over the past few months during their all-time high cost, DMG held strong knowing, from our past buying experiences, that, although the hardware market remains extremely active, it is important to secure the appropriate equipment at the right price to receive optimum value. We believe this purchase, along with other purchases that DMG is currently negotiating, will greatly improve our self-mining goals in the near term.”
DMG currently holds approximately 260 Bitcoins. These newly purchased miners, once fully operating, are expected to add approximately 50 additional Bitcoin per month.
DMG is an environmentally friendly blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem.
DMG’s sustainable businesses are segmented into three main divisions: data centre operations, data analytics and forensics and developing enterprise blockchains.
Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hashrate may materially affect the future performance of DMG’s production of Bitcoin, and future operating results could also be materially affected by the price of Bitcoin and an increase in hashrate mining difficulty.
DMG Blockchain Solutions Inc. (DMGI) opened trading at C$0.73 per share.