DMG Blockchain Solutions Announces Preliminary Operational Results for August 2024

VANCOUVER, British Columbia, Sept. 05, 2024 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB: DMGGF) (FRANKFURT: 6AX) ("DMG" or the "Company"), a vertically integrated blockchain and data center technology company, announces its preliminary operational results for August 2024:

• BTC Mined: 21 BTC
• Hashrate: 0.94 EH/s
• BTC balance: 453 BTC
  

We expect to have our 4,550 Bitmain T21 miners fully installed by the end of September. To date, we have energized about 40% of our new mining fleet producing about 0.35 EH/s and have optimized our legacy fleet to run in the lowest power mode to best deal with the summer heat, producing about 0.75 EH/s or 1.1 EH/s in total. Most of the balance of our T21 miners are racked in containers awaiting connection to our distribution line.

We believe we can reach our 1.7 EH/s goal at an efficiency of 23 J/TH when we energize the balance of the T21 miners and operate our legacy fleet at a slightly higher power consumption, producing about 0.85 EH/s. As we stated in our July 08, 2024 press release, we have seen modest dips in hashrate on warm days. As we soon enter cooler weather periods from the end of September, we expect more steady hashrate over the coming months.

About DMG Blockchain Solutions Inc.

DMG is an environmentally friendly vertically integrated blockchain and data center company that manages, operates and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG’s sustainable businesses are segmented into two business lines under the Core and Core+ strategies and unified through DMG’s vertical integration.

For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
Follow @dmgblockchain on X and subscribe to DMG's YouTube channel.

For further information, please contact:

On behalf of the Board of Directors,

Sheldon Bennett, CEO & Director
Tel: [phone]
Email: [e-mail]
Web: www.dmgblockchain.com

Investor Relations Contact:
[e-mail]

For Media Inquiries:
Chantelle Borrelli
Head of Communications
[e-mail]

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this news release include statements regarding DMG’s strategies and plans, increasing hashrate, improving fleet efficiency and continuing to execute on Core+ software initiatives, hosting a conference call, the opportunity and plans to monetize bitcoin transactions, the continued investment in Bitcoin network software infrastructure and applications, developing and executing on the Company’s products and services, increasing self-mining, efforts to improve the operation of its mining fleet, the launch of products and services, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information.