DMG Provides Overview and Business Outlook for 2021
VANCOUVER, British Columbia, Jan. 21, 2021 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF:OTC US) (FRANKFURT:6AX) (“DMG” or the “Company”), a vertically integrated
blockchain and cryptocurrency technology company, is pleased to provide its shareholders with its business outlook for 2021.
Not since late 2018 has the general crypto industry attracted so much attention; however, this new bull run is decidedly different from the past as institutions such as Paypal, BlackRock, and AllianceBernstein are all taking positions, predominantly in Bitcoin. With institutional investors driving crypto forward instead of retail, as it was in 2017 and 2018, it is anticipated that governments and regulators are not far behind. In order for the economic scale which institutional investors bring, financial compliance must go hand-in-hand. DMG’s previous acquisition of Blockseer is focused on compliance and good governance, putting it at the forefront of DMG’s 2021-2022 growth strategy, along with its core crypto mining operations and third-party hosting services.
Many DMG shareholders may not realize that DMG is not just a crypto mining company. Rather, it is a full-service, vertically integrated blockchain company. DMG possesses core assets that begin with its 85MW power substation and 27,000 sq. ft. data centre in British Columbia, Canada. DMG’s Mine Manager software optimizes mining operations, and DMG’s Blockseer Pool was created to meet the U.S. Government’s Office of Foreign Assets Control (OFAC) compliance for Bitcoin addresses, as well as providing the utmost level of transparency, auditability, and corporate governance. DMG plans to monetize this cryptocurrency pool in partnership with Marathon Patent Group Inc. and other potential large scale mining companies. DMG’s vertical integration will continue with the release of additional software products built upon the Blockseer brand, which are focused on bringing its clients deeper into DMG’s value-added services beyond the Company’s core crypto mining operations.
DMG’s Development Plans for 2021
In order to position the Company for anticipated future changes within the cryptocurrency industry in general and the Bitcoin mining industry in particular, DMG’s management is actively involved in further developing its corporate growth strategy and adjusting it to the ever-changing market environment, aiming at becoming one of the leading innovation forces in this market. Therefore, the following recent corporate developments and efforts are the foundation of this long-term and profit-oriented strategy for growth: