DMG Provides Core+ Strategy Update on Blockseer Pool Platform Now Running Over 1 Exahash of Bitcoin Mining
VANCOUVER, British Columbia, May 11, 2021 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSXV: DMGI) (DMGGF: OTCQB) (FSE: 6AX) ("DMG" or the "Company"), a vertically integrated blockchain and cryptocurrency technology company is pleased to provide an update regarding its Core+ operations, following up on its conference call held on April 22, 2021.
DMG Core+ Strategy
The Company has been aggressively focusing on its Core+ software platforms, following the development of its Core+ data centre infrastructure. All DMG software operates under the Blockseer brand, a 100% owned subsidiary of DMG. Blockseer has a range of crypto-specific services already operating, which include Explorer, Walletscore, Pool, and Mine Manager. As of today, Blockseer’s Pool platform, a licenced technology which includes “Clean Block” mining, is operating over 1 Exahash (1,000 Petahash) for its client.
Normally a pool will charge an average of 2% for its fees to users. Over a single week of mining with approximately 1 Exahash (1,000 Petahash) at today’s bitcoin price, it would be expected that pool fees charged would be approximately USD$45,000 per week per Exahash. DMG, licensing its technology, takes a negotiated fee via its overall pool fee for Blockseer’s services and technologies.
The Blockseer Pool is currently producing blocks at its statistically expected rate which, with its current hashrate, will generate approximately 225 bitcoin per month. As a critical component of our Core+ services, Blockseer's mining pool is now an active revenue generator; with over 1 Eh/s running on the pool network for DMG’s client.
"I am incredibly proud of my team, and their diligent work over the last year to take our Blockseer Pool offering from inception to production. This represents the next step in DMG's focus towards full vertical integration in the creation of bitcoin, and is the foundation for becoming more involved in the entire bitcoin ecosystem,” said Adrian Glover, Chief Technology Officer of DMG.
“DMG is very excited for the ongoing growth of the Blockseer platforms,” commented Sheldon Bennett, DMG’s CEO. “We now have four operating platforms (Explorer, Walletscore, Pool and Mine Manager), and with the coming additions of Breeze and Freeze (Blockseer’s custody wallet solutions), and Petra, which is now patent pending, and focuses on solving regulatory issues for banks and financial institutions as they add Bitcoin operations. In the coming months, as we move forward with our plans to add crypto exchange capabilities to Blockseer, DMG is investing significantly in new revenue generating products beyond pure crypto mining.”