U.S. Department of Energy Grants DMG an Export License

VANCOUVER, British Columbia, Sept. 23, 2020 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF:OTC US) (FRANKFURT:6AX) (“DMG” or the “Company”), a diversified blockchain and technology company, is pleased to announce that the Company has received an energy export license from the U.S. Department of Energy.

Highlights:

• DMG’s new US Export License extends DMG’s ability to purchase across United States, specifically Washington State, the closest non-Canadian wholesale marketplace
• DMG’s new US Export License is a significant part of DMG’s over all operational strategy of power and infrastructure independence

Prior to DMG becoming a public company, its operating location was in Edmonton, Alberta, where DMG purchased power from Alberta’s deregulated market to obtain the best wholesale price of power before distribution and utility charges. In order to scale and seek long-term energy savings, DMG’s management recognized the need to be energy independent from the onset. This led to owning our own power assets for industrial mining, accessing power from either utilities or wholesale markets, and ensuring revenue diversification in both self-mining and hosting. Crypto-mining, distributed computing hosting and new areas such as computational rendering and artificial intelligence require substantial energy, and profitability is proportionally related to power costs and operational uptime. DMG, at its current location, and based on the availability to access 85MW, is achieving the Company’s overall energy strategy. Low cost energy sourcing, power asset ownership, operational excellence in uptime, as well as ensuring that DMG’s operations do not impact the local power grid and the local community are all being realized.

DMG’s CEO Dan Reitzik commented, “DMG has worked diligently over the past four years to develop our unique power strategy. Over the years, strong support and endorsement has been given by local government and business leaders, as well as by our current utility power provider, FortisBC. We are excited to have been successful in obtaining a power export license from the US Department of Energy and will continue working on DMG's power strategy to ensure that DMG is able to access the most reliable and cost-effective power from either Canada or the United States.”