PALM BEACH, Florida, March 21, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The interest for digital currencies appears to be rising again of late and in turn, cryptocurrency mining operations are starting to pick up steam as the currency once again attempts to assert itself as a mainstay in the global economy. Although cryptocurrency mining has been in existence for 10 years, the momentum is currently building rapidly as the practice becomes more mainstream. Multiple private corporations have engaged in expanding operations to both acquire and enhance cryptocurrency mining methods as the market cap for bitcoin alone approaches $160 billion. In turn, blockchain technologies are becoming increasingly essential to maximize cryptocurrency mining potential, as well as to bolster security against enhanced security risks. The headlines in the digital currency market include leaders in the space acquiring new equipment to maximize their cryptocurrency mining efforts, as well as an overall update on the state of blockchain. Active stocks in the markets include: DMG Blockchain Solutions Inc. (TSX-V:DMGI) (OTC:DMGGF), HIVE Blockchain Technologies Ltd. (OTC: HVBTF) (TSX-V: HIVE), Long Blockchain Corp. (NASDAQ: LBCC), Global Blockchain Technologies Corp. (OTC: BLKCF) (CSE: BLOC), Marathon Patent Group Inc. (NASDAQ: MARA).
DMG Blockchain Solutions Inc. (TSXV:DMGI.V) (OTC:DMGGF) BREAKING NEWS: DMG Blockchain Solutions Provides Sales Update, and Detailed Description of Strategic Partnerships with achievements and operational highlights that include:
- 2,650 Mining Rigs Sold: MAAS allocated 4MW of power sold out in just the past few months
- Power Update: DMG expects an additional 40MW ready for Spring 2018
- Bitcoin Mining: Launching what could be the largest industrial bitcoin mining complex in North America with power capacity of up to 85 megawatts
- Blockseer and AI: Carefully managed M&A plan underway with the acquisition of leading Silicon Valley-based artificial intelligence (AI) and Blockchain company, Blockseer
- Key partnerships that can be catalysts for growth and margin expansion (Bitmasters, Foreside Financial, Mogo, Emerald Therapeutics, Element Fleet Management, D-Link, Primary Engineering and Cannachain)
- More than $35 million raised since November 2017 with institutional ownership of more than 20%
DMG Blockchain Solutions, a diversified blockchain and cryptocurrency company, announced today that it has sold out it's current capacity of 2,650 mining rigs for its cryptocoin Mining-as-a-Service (MaaS) business. Under the unique MaaS business model, customers purchase the mining rigs and receive all the bitcoin directly and DMG provides hosting and management services - a stable and predictable revenue stream. Additionally, the company's Q1 operational milestones include construction of a new 85 megawatt mining facility, the acquisition of A.I. leader Blockseer, and signed agreements with key partners including D-Link, Primary Engineering, Emerald Therapeutics, Mogo, Foreside Financial, and Bitmasters.
DMG CEO Dan Reitzik commented, "This is the first quarterly report for our shareholders and the first of many to come. We continue to provide our shareholders with opportunities other crypto players do not see, or are unable to execute on, due to our experience and relationships built over several years in the industry. DMG is not only establishing itself as the leader in crypto mining but in blockchain and AI platform development with our recent acquisition of Blockseer. Our pipeline is strong and exciting and few have it. In fact, market weakness has created more opportunities for DMG as power providers are getting more educated as to who they want to deal with. We thank our investors and customers for all their support to date." Read this and more news for DMG Blockchain Solutions at http://www.marketnewsupdates.com/news/dmgi.html
Additional industry related developments from around the markets:
HIVE Blockchain Technologies Ltd. (OTC: HVBTF) (CDNX: HIVE.V) last week the company announced it has applied for listing of an aggregate of 48,830,150 common share purchase warrants on the TSX Venture Exchange as a supplemental listing. The warrants were issued pursuant to private placements of the company that closed on Nov. 14, 2017, Dec. 18, 2017, and Dec. 29, 2017. Subject to TSX-V approval, the warrants will commence trading on the TSX-V under the symbol HIVE.WT concurrently with the expiry of each applicable four-month-and-a-day hold period attached to such warrants. Hive expects 12,322,250 of the warrants to be listed on March 15, 2018, 15,873,100 of the warrants on April 19, 2018, and the remaining 20,634,800 warrants on April 30, 2018. Hive Blockchain Technologies is a growth-oriented, TSX Venture Exchange-listed company, building a bridge from the blockchain sector to traditional capital markets.
Long Blockchain Corp. (NASDAQ: LBCC) recently announced it has closed on a strategic investment in Stater Blockchain Limited ("Stater"), a technology company focused on developing and deploying globally scalable blockchain technology solutions in the financial markets. Stater's wholly-owned subsidiary, Stater Global Markets, is a Financial Conduct Authority (FCA) regulated brokerage that facilitates market access across multiple instruments including spot FX, exchange traded futures and contracts for difference (CFDs). "As previously announced, we had been in discussions to merge with Stater. As the expiration date of the letter of intent approached, both parties agreed that a minority investment with dual board representation would allow us to immediately formalize our partnership while maintaining our respective autonomy," stated Shamyl Malik, Chief Executive Officer of Long Blockchain. "We are pleased to announce this strategic investment, which further demonstrates our shared commitment to building blockchain technologies."
Global Blockchain Technologies Corp. (OTC: BLKCF) (CSE: BLOC.CN) recently announced it has closed the acquisition of Coinstream Mining Corp., previously announced on Feb. 13, 2018, by way of a three-cornered amalgamation. Under the terms of the definitive acquisition agreement, the company acquired 100 per cent of Coinstream and assumed all of its existing assets and underlying agreements at present, including The Manitoba joint venture facilities totalling 50 megawatts of capacity, with 35 megawatts of capacity available immediately. Global Blockchain's subsidiary will supply cryptocurrency mining units on the basis of a 70/30 split in favour of Global Blockchain. Distributed Mining would allow anyone with a connected device to download and install a software packet, giving the user access to optimized cryptocurrency mining. The distributed mining platform will be able to optimize for variable mining requirements, and its design is particularly well suited for gaming consoles, of which there are over 100 million currently connected units. Gaming consoles contain stronger processing power than that found in typical laptop/desktop computers, making them the perfect environment to deploy the distributed mining platform as individuals are able to put their resting consoles to work, earning them valuable cryptocurrency tokens.
Marathon Patent Group Inc. (NASDAQ: MARA) recently announced that it has commenced bitcoin mining at its new facility in Quebec. On February 8, 2018, the Company announced it had purchased 1,400 Bitmain Antminer S9 miners ("Antminer S9s") and on February 15, 2018 the company announced it had leased 26,700 square feet of data center space in Quebec, Canada. The Company is pleased to announce the completion of its installation and the commencement of operations which are expected to utilize approximately 2.0 MW and deliver approximately 19 Ph/s of ASIC mining capacity. The Antminer S9s are presently mining Bitcoin, but are able to mine other digital assets/cryptocurrency using the SHA256 algorithm.
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