DMG Blockchain Solutions Announces Q1 2024 Financial Results Release Date, Operational and Bosonic Investment Updates

VANCOUVER, British Columbia, Feb. 20, 2024 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG” or the “Company”), a vertically integrated blockchain and data center technology company, today announces it will release financial results for its first quarter 2024 ending December 31, 2023 on Wednesday, February 21, 2024 after the market close. The Company will host a conference call to review its results and provide a corporate update on Thursday, February 22, 2024 at 4:30 pm ET. Attendees should register in advance here.

Additionally, DMG announces recent operational updates:

• New Mining Capacity: In total, DMG plans to energize 54 mining containers, which will house its ordered 4,550 units of new Bitmain T21 miners, its currently operating S19 XP miners along with some of its less efficient legacy fleet. DMG has received all the major electrical distribution components and mining containers, which are now located either at its Christina Lake data center facility or with its integration partners. The migration of a portion of its existing miners to containers will free up capacity inside DMG’s Christina Lake data center building to expand its immersion cooling infrastructure. Subsequent to the container deployment, DMG’s total electrical capacity will be approximately double its current Christina Lake building capacity of 36 megawatts.
  
• New Data Center Site: Regarding DMG’s development of a new data center site with access to low-cost reliable renewable energy located in Canada in a province outside of British Columbia, there has been significant progress towards receiving regulatory approvals for power. In addition, the Company is proceeding with its capital outlay plan and is working towards executing a binding agreement. Further information will be provided if and when the definitive agreement and regulatory approvals are obtained for this new data center site.
  
• Immersion Cooling Technology: After a long period of engineering development, DMG has ordered its first production environment immersion cooling tanks with the goal to have an initial closed loop set-up completed in the June 2024 quarter. Subsequent to this initial build-out, the Company will then purchase the remainder of the equipment necessary to energize the first 12-megawatt phase. In addition, DMG has selected a deployment partner that is located near its Christina Lake facility with which it has a long standing relationship. For this first phase of immersion cooling, the Company intends to operate using primarily legacy miners to prove out the technology.