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VANCOUVER, British Columbia, Dec. 05, 2022 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCKB: DMGGF) (FSE: 6AKS) (“DMG” or the “Company”), a vertically integrated blockchain technology and cryptocurrency company, announces November preliminary mining results.
In November 2022, DMG mined 88 Bitcoins with an achieved hashrate of 0.83 EH/s. DMG’s bitcoin balance as of November 30, 2022 was 389 bitcoins. Depending on the time to receive shipments of ordered miners, DMG expects to increase its hashrate to 1 EH/s by the end of this calendar year or early 2023; this depends on the reception, installation and operation of additional miners.
DMG will present at Singular Research Best of the Uncovered
DMG will also present at Singular Research’s annual Best of the Uncovered Investor conference on December 8, 2022 at 10:00 a.m. PT in San Francisco at the Hilton SF Financial District. The event will be available via live streaming with registration at visitee.gotovebinar.com/register/7491304099855071247. Slides will be available at dmgblockchain.com/corporate-presentation prior to the event.
About Singular Research
Singular Research aims to be the most trusted provider of independent, reliable, single-source research on small and micro companies for small and mid-sized hedge fund managers. Singular Research provides quarterly updates on 40 to 70 companies and makes recommendations.
Singular seeks to achieve objectives by finding under or overvalued securities. Singular’s goal is to provide launch reports and quarterly updates to approximately 40 micro to small companies. In many cases, Singular’s analysts research companies that are not covered by any other firm.
Singular gives honest advice. Independent analysts have no financial interest in the stocks covered. Analysts are compensated based on the accuracy of their research calls, not through trading commissions or potential business flow.
About DMG Blockchain Solutions Inc.
DMG is an environmentally friendly, vertically integrated blockchain and cryptocurrency company that manages, operates and develops end-to-end digital solutions for the monetization of the blockchain ecosystem. DMG’s viable businesses are segmented into two business lines within the Core and Core+ strategies and unified through DMG’s vertical integration.
Future changes in Bitcoin network-wide mining difficulty or Bitcoin hashrate could materially affect DMG’s future Bitcoin production performance, and future operating results could also be materially affected by Bitcoin prices and increases in mining hashrate .
For more information about DMG Blockchain Solutions, visit: www.dmgblockchain.com
Follow @dmgblockchain on Twitter and subscribe to DMG’s YouTube channel.
On behalf of the Board of Directors,
Sheldon Bennett, CEO and Director
For further information please contact:
DMG Blockchain Solutions Inc.
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
Investor Relations Contact:
CORE IR (516) 222-2560
For media inquiries:
Jules Abraham, Head of Communications
CORE IR
(917) 885-7378
julesa@coreir.com
Neither TSKS Venture Exchange nor its regulation service provider (as that term is defined in TSKS Venture Exchange’s policies) accepts responsibility for the adequacy or accuracy of this announcement.
Caution regarding forward-looking information
This release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this press release include statements regarding the scale-up of standalone Bitcoin mining and the achievement of the 1 EH/s target, the expected arrival of new miners and increased hashrate once miners are installed and operating, the launch of products and services, events, directions operations and the potential of the company’s technology and operations, among other things, are all forward-looking information.
Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forward-looking language such as “may,” “expect,” “estimate,” “anticipate,” “intend,” “believe” and “continue,” or negative or similar variations thereof. The reader is cautioned that the assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those anticipated as a result of a number of known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control, including, but not limited to, market and other conditions, price volatility trading of the Company’s ordinary shares, business conditions, economic and market conditions; the ability to manage business costs, which may negatively affect the Company’s financial condition; the ability to remain competitive while other better-funded competitors develop and release competing products; regulatory uncertainties; access to equipment; market conditions and demand and prices for products and services; Bitcoin demand and price; security threats, including loss/theft of DMG’s Bitcoin; DMG’s relations with its customers, distributors and business partners; inability to add more power to DMG objects; DMG’s ability to successfully define, design and release new products in a timely manner that meet customer needs; the ability to attract, retain and motivate qualified staff; competition in the industry; impact of technological changes on products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend claims by third parties alleging infringement of their intellectual property rights; the impact of litigation related to intellectual property that could materially and adversely affect the business; ability to manage working capital; and dependence on key personnel. DMG may not actually achieve its plans, projections or expectations. Such statements and information are based on a number of assumptions regarding current and future business strategies and the environment in which the Company will operate in the future, including demand for its products and services, the ability to successfully develop software, that there will be no regulation. or law that will prevent the Company from conducting its business, anticipated expenses, ability to secure sufficient capital to complete its business plans, ability to achieve goals and the price of Bitcoin. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. DMG’s securities are considered highly speculative due to the nature of DMG’s business. For further information regarding these and other risks and uncertainties, please see the Company’s filing at www.SEDAR.com. In addition, DMG’s past financial performance may not be a reliable indicator of future performance.
Factors that could cause actual results to differ materially from those in forward-looking statements include, the inability to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, adverse weather and climate events, failure to obtain any license required to conduct business, impact of technological changes on the industry, impact of COVID-19 or other viruses and diseases on the Company’s ability to operate, provide equipment and employ personnel, competition, security threats including stolen Bitcoin from DMG- and or its customers, consumer sentiment toward DMG’s products, services and blockchain technology in general, failure to develop new and innovative products, litigation, increases in operating costs, increases in equipment and labor costs, decreases in the price of bitcoin, non-fulfillment of contractual obligations by contractual parties, state regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The reader is cautioned not to rely on any forward-looking information. Forward-looking statements contained in this press release are made as of the date of this release. Except as required by law, the Company disclaims any intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In addition, the Company undertakes no obligation to comment on the expectations or statements of third parties regarding the matters discussed above.
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