DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB: DMGGF)
(FRANKFURT: 6AX) (“DMG” or the “Company”), a vertically integrated
blockchain and cryptocurrency technology company, announces today
that DMG has become the first Canadian Bitcoin miner to join the
mining pool of Marathon Digital Holdings, Inc. (Nasdaq:MARA)
commonly referred to as MaraPool.
MaraPool is a U.S.-based Bitcoin mining pool
that is fully audited by a third-party firm in the U.S. The pool
provides its members with industry leading transparency, an
intuitive reporting system, and access to exclusive services from
NYDIG. On September 13, 2021 DMG will begin pointing 100% of its
hashrate towards the MaraPool. Upon DMG being the first to join,
MaraPool will then be open to additional Bitcoin mining
companies.
Sheldon Bennett, DMG Blockchain’s CEO,
said, “Marathon has consistently remained at the forefront of
not only scaling but professionalizing the Bitcoin mining industry.
Their mining pool, which leverages our industry-leading software,
is no different. While many mining pools lack transparency and
accountability, MaraPool excels at both. We believe that being the
first to join shows our confidence in MaraPool, and we look forward
to others joining and benefiting from MaraPool as well.”
“After experiencing difficulties with mining
pools outside the U.S., we decided to launch our own pool that
would reflect the values and needs of enterprising North American
Bitcoin miners,” said Fred Thiel, Marathon’s CEO. “After many
months of testing, we have now opened the pool to other Bitcoin
miners that share our beliefs and our desire to improve miners’
processes. DMG Blockchain has long been an innovator in this
regard, having worked closely with us on this initiative, and we
are pleased to welcome them to MaraPool.”
DMG to Present at H.C. Wainwright
23rd Annual Investment
ConferenceIn addition, Mr. Bennett will present at the
H.C. Wainwright 23rd Annual Global Investment Virtual Conference,
which is being held virtually from September 13 – 15, 2021. He will
deliver the corporate presentation, which will become available
beginning on September 13 at 7:00 AM ET. Investors can register for
the conference here: www.hcwevents.com.
Mr. Bennett will also be available for one-on-one meetings
throughout the conference.
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 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. DMG’s
non-polluting data centre operations focus on earning eco-friendly
revenues from block rewards and transaction fees by mining
primarily bitcoin as well as providing hosting services for
industrial mining clients entirely powered by renewable energy.
DMG’s data analytics and forensic services provide technical
expertise software products such as Blockseer Pool, Mine Manager
and Walletscore, as well as working with auditors, law firms, and
law enforcement organizations. DMG’s permissioned blockchain
technology is focused on developing enterprise software for the
supply chain management of controlled products. DMG’s strategy is
to become the domain experts across the business verticals it
focuses on. DMG’s environmentally committed management team
includes seasoned crypto experts, forensic & financial
professionals and blockchain developers with deep relationships
throughout the industry and a strong ecological consciousness.
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
operational results could also be materially affected by the price
of Bitcoin and an increase in hashrate mining difficulty.
For more information on DMG Blockchain Solutions visit:
www.dmgblockchain.comFollow @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.comWeb:
www.dmgblockchain.com
Investor Relations Contact:CORE IR 516-222-2560
For Media Inquiries:Jules Abraham, Head of Public RelationsCORE
IR917-885-7378julesa@coreir.com
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
About Marathon Digital Holdings Marathon
is a digital asset technology company that mines cryptocurrencies
with a focus on the blockchain ecosystem and the generation of
digital assets.
Marathon Digital Holdings Company
Contact: Charlie SchumacherTelephone:
800-804-1690Email: charlie@marathondh.com
Cautionary Note Regarding Forward-Looking
Information
This news release contains forward-looking
information or statements based on current expectations. Statements
about the Company joining the MaraPool and the expected benefits
and outcomes, plans and intentions, other potential transactions,
product development, events, courses of action, and the potential
of the Company’s technology and operations, among others, are all
forward-looking information. Forward-looking statements consist of
statements that are not purely historical, including any statements
regarding beliefs, plans, expectations or intentions regarding the
future. Such information can generally be identified by the use of
forwarding looking wording such as “may”, “expect”, “estimate”,
“anticipate”, “intend”, “believe” and “continue” or the negative
thereof or similar variations. The reader is cautioned that
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 predicted, as
a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the Company,
including but not limited to, business, economic and capital market
conditions; the ability to manage operating expenses, which may
adversely affect the Company’s financial condition; the ability to
remain competitive as other better financed competitors develop and
release competitive products; regulatory uncertainties; access to
equipment; market conditions and the demand and pricing for
products; the demand and pricing of bitcoins; security threats,
including a loss/theft of DMG’s bitcoins; DMG’s relationships with
its customers, distributors and business partners; the inability to
add more power to DMG’s facilities; DMG’s ability to successfully
define, design and release new products in a timely manner that
meet customers’ needs; the ability to attract, retain and motivate
qualified personnel; competition in the industry; the impact of
technology changes on the products and industry; failure to develop
new and innovative products; the ability to successfully maintain
and enforce our intellectual property rights and defend third-party
claims of infringement of their intellectual property rights; the
impact of intellectual property litigation that could materially
and adversely affect the business; the ability to manage working
capital; and the dependence on key personnel. DMG may not actually
achieve its plans, projections, or expectations. Such statements
and information are based on numerous assumptions regarding present
and future business strategies and the environment in which the
Company will operate in the future, including the demand for its
products, the ability to successfully develop software, that there
will be no regulation or law that will prevent the Company from
operating its business, anticipated costs, the ability to secure
sufficient capital to complete its business plans, the 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.
The securities of DMG are considered highly
speculative due to the nature of DMG’s business. For further
information concerning these and other risks and uncertainties,
refer to the Company’s filings on www.SEDAR.com including the
annual information form for the year ended September 30, 2020,
filed on January 28, 2021.
Factors that could cause actual results to
differ materially from those in forward-looking statements include,
failure to obtain regulatory approval, the continued availability
of capital and financing, equipment failures, lack of supply of
equipment, power and infrastructure, failure to obtain any permits
required to operate the business, the impact of technology changes
on the industry, the impact of Covid-19 or other viruses and
diseases on the Company’s ability to operate, secure equipment, and
hire personnel, competition, security threats including stolen
bitcoins from DMG or its customers, consumer sentiment towards
DMG’s products, services and blockchain technology generally,
decrease in the price of Bitcoin and other cryptocurrencies,
failure to develop new and innovative products, litigation,
increase in operating costs, increase in equipment and labor costs,
failure of other Bitcoin mining companies to join any pool DMG has
an interest in, failure of counterparties to perform their
contractual obligations, government regulations, loss of key
employees and consultants, and general economic, market or business
conditions. Forward-looking statements contained in this news
release are expressly qualified by this cautionary statement. The
reader is cautioned not to place undue reliance on any
forward-looking information. The forward-looking statements
contained in this news release are made as of the date of this news
release. Except as required by law, the Company disclaims any
intention and assumes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Additionally, the Company undertakes no
obligation to comment on the expectations of, or statements made by
third parties in respect of the matters discussed above.
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