DMG Blockchain Solutions Inc., a leading blockchain and cryptocurrency technology company, has announced its preliminary mining results for September 2023. During the month, DMG mined 52.4 bitcoin with a realized hashrate of 0.75 EH/s. The company currently holds a bitcoin balance of 469.
Although DMG’s realized hashrate increased compared to the previous month, it fell short of its installed nameplate hashrate due to ongoing heat issues. However, with the arrival of new miners at the end of September and the expected cooler seasonal temperatures, DMG anticipates an increase in its realized hashrate in October. The company’s nameplate hashrate is projected to reach 1.2 EH/s.
To shed more light on the subject of bitcoin mining, DMG’s CEO Sheldon Bennett and COO Steven Eliscu were recently interviewed by Bryce McNallie, host of McNallie Money, in a series titled “Can Bitcoin Miners Survive the Halving?”
DMG Blockchain Solutions is a vertically integrated blockchain and cryptocurrency company that focuses on managing, operating, and developing end-to-end digital solutions to monetize the blockchain ecosystem. The company follows sustainable practices and operates two business lines, Core and Core+, which are unified through its vertical integration strategy.
For more information on DMG Blockchain Solutions, visit their website at www.dmgblockchain.com. You can also follow them on Twitter @dmgblockchain and subscribe to their YouTube channel for updates.
For investor relations inquiries, please contact CORE IR at 516-222-2560. Media inquiries can be directed to Jules Abraham at CORE IR, reachable at 917-885-7378 or julesa@coreir.com.
It is important to note that neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information:
This news release contains forward-looking information and statements based on current expectations. These statements include DMG’s strategies and plans, the anticipated increase in realized hashrate in October, the influence of cooler seasonal temperatures, product development and execution, and the potential of the company’s technology and operations.
It is important to remember that changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hash rate could significantly impact DMG’s future bitcoin production. Additionally, operating results may be affected by fluctuating bitcoin prices and increased mining difficulty.
The forward-looking statements provided in this news release are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially. These risks and uncertainties include market conditions, economic factors, competition, and the dependence on key personnel, among others.
Readers are advised not to place undue reliance on these forward-looking statements as they are based on assumptions that may prove to be incorrect. Any forward-looking information is subject to change and DMG disclaims any obligation to update or revise these statements, except as required by law.
It is also important to consider that DMG’s past financial performance may not accurately predict its future performance. Investors are encouraged to thoroughly review the Company’s filings on www.sedarplus.ca for further information on the risks and uncertainties associated with DMG’s business.
In conclusion, DMG Blockchain Solutions is optimistic about the future of its mining operations, with expectations of increased hashrate and potential profitability in the coming months. The company’s commitment to sustainable practices and vertical integration positions it well in the blockchain and cryptocurrency industry.
