DMG Blockchain Solutions Announces Preliminary November 2024 Operational Results, Management Purchases Company Shares
Press Release
VANCOUVER, British Columbia, Dec. 02, 2024 — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB: DMGGF) (FRANKFURT: 6AX) (“DMG” or the “Company”), a vertically integrated blockchain and data center technology company, announces its preliminary Bitcoin mining operational results for November 2024:
Operational Highlights:
- Bitcoin Mined: 32 BTC vs 34 BTC in October 2024
- Hashrate: 1.66 EH/s vs 1.53 EH/s in October 2024
- Bitcoin Holdings: 423 BTC vs 399 BTC in October 2024
DMG Blockchain Solutions demonstrated continued progress in its operational metrics during November, achieving 32 BTC mined bitcoin and a hashrate of 1.66 EH/s. The Company is continuing to refine its operations to realize further incremental hashrate improvements while readying its Christina Lake property to receive its six Bitmain hydro containers and its first 1 megawatt of Bitmain S21 Hydro miners.
DMG’s CEO, Sheldon Bennett, commented, “November was a transformative month: Piggybacking on our Artificial Intelligence (AI) Data Center partnership announcement with the Malahat Nation, we successfully closed a $17.3 million unit offering, significantly bolstering our financial position and enabling us to accelerate multiple growth initiatives. With the purchase of 5 megawatts of Bitmain S21+ Hydro miners on top of the prior purchase of 6 megawatts of hydro mining containers and 1 megawatt of Bitmain S21 Hydro miners, we are positioning ourselves to grow our hashrate to 2.1 EH/s in early calendar 2025. The funds raised will also support further investments in Systemic Trust and our initial investments in AI infrastructure, while freeing us to hold bitcoin in the near term, aligning with our positive outlook on bitcoin’s market trajectory. Furthermore, achieving SOC 2 Type II compliance reaffirms our commitment to security and operational excellence.”
Management Purchases Company Shares
The Company also announces that Sheldon Bennett, DMG’s CEO and Steven Eliscu, DMG’s COO, each recently purchased DMG shares in open market purchases. Mr. Bennett purchased 99,461 shares and Mr. Eliscu purchased 107,000 shares, as disclosed on SEDI.
“With our recent execution on building out enterprise-class SOC2-compliant software for our Systemic Trust subsidiary and carbon neutral pool, Terra Pool, we are well positioned to realize our strategy to enable a carbon neutral Bitcoin ecosystem in the coming year. In addition, with a nascent AI strategy that can result in a new generation of data centers built in conjunction with indigenous bands, we are preparing to launch the next stage of DMG that goes beyond the cryptocosm. As we are executing on our goals, I affirm my belief that DMG has the potential to create significant value,” Mr. Eliscu added.
About DMG Blockchain Solutions Inc.
DMG is a publicly traded and vertically integrated blockchain and data center technology company that manages, operates and develops end-to-end digital solutions to monetize the digital asset and artificial intelligence compute ecosystems. DMG’s sustainable businesses are segmented into two business lines under the Core and Core+ strategies and unified through DMG’s vertical integration.
For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
Follow @dmgblockchain on X and subscribe to DMG’s YouTube channel.
For further information, please contact:
On behalf of the Board of Directors,
Sheldon Bennett, CEO & Director
Tel: +1 (778) 300-5406
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
For Investor Relations:
investors@dmgblockchain.com
For Media Inquiries:
Chantelle Borrelli
Head of Communications
chantelle@dmgblockchain.com
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