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DMG Blockchain Solutions Reports Strong Bitcoin Mining Results in October 2024
Bitcoin Mining Operational Results
DMG Blockchain Solutions Inc., a leading blockchain and data center technology company, has announced its preliminary Bitcoin mining operational results for October 2024:
- Bitcoin Mined: 34 BTC (up from 23 BTC in September)
- Hashrate: 1.53 EH/s (up from 1.1 EH/s in September; includes 0.12 EH/s moved and energized to a hosting location during October)
- Bitcoin Holdings: 399 BTC (DMG liquidated $2.0 million of its bitcoin to meet regulatory capital requirements and $1.0 million to pay down a loan)
DMG Expansion Plans
DMG has purchased six one-megawatt hydro mining containers, set for delivery this quarter. This advancement will increase DMG’s hashrate by 0.4 EH/s, enhancing total mining fleet to approximately 2.1 EH/s.
CEO Statement
DMG’s CEO, Sheldon Bennett, highlighted the company’s focus on increasing hashrate growth and deploying DLC hydro technology in early 2025. He also emphasized the strategic deployment of miners with trusted hosting partners to diversify sites and reduce costs.
Loan Repayment
On October 30, 2024, DMG fully repaid a $1 million loan secured by property, which resulted in significant gains due to the appreciation in bitcoin value.
About DMG Blockchain Solutions Inc.
DMG is a sustainable blockchain and data center technology company committed to vertical integration and environmental responsibility. The company’s operations are driven by two strategic pillars: Core and Core+, both unified by DMG’s dedication to the blockchain ecosystem.
For more information on DMG Blockchain Solutions, visit their website. Follow @dmgblockchain on social media platforms and subscribe to their YouTube channel.
Contact Information
For further inquiries, contact Sheldon Bennett, CEO & Director, at 516-222-2560 or [email protected]. For investor relations, reach out to [email protected]. For media inquiries, contact Chantelle Borrelli at [email protected].
Disclaimer: This article contains forward-looking information, and actual results may differ from projected expectations due to various factors.
Cautionary Note
DMG warns of potential risks such as regulatory approval, market conditions, technology changes, and economic factors that may impact future performance. The company advises readers not to solely rely on forward-looking statements and emphasizes caution when considering future projections.
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The information in the article is for informational purposes only. It does not constitute any investment advice. The author and CryptoBlockNews.com are not responsible for your profits or losses arising from your investments. Investment is ultimately based on many foundations such as knowledge, accumulation, experience, research and personal decisions.
