OLB GROUP Anticipates Start of Delivery of Additional 400 ANTMINER S19J PRO Cryptocurrency Machines This Month
January 13 2022 - 7:45AM
Business Wire
- Upon receipt of the 400 machines, OLB will have Total of
1,000 Antminer S19j Pro cryptocurrency machines operating in two
facilities in Bradford, PA
The OLB Group, Inc. (NASDAQ: OLB), a diversified eCommerce
merchant services provider and Bitcoin mining enterprise, announced
today that DMint, Inc., a wholly owned subsidiary of OLB ("DMint"),
expects to take delivery of the first of four hundred (400)
additional Antminer S19j PRO Bitcoin mining machines this month.
The order was paid for in advance in November 2021.
DMint believes it will be able to generate approximately $1
million in increased monthly revenue (assuming an average Bitcoin
price of $42,000) once all 1,000 mining machines are deployed and
fully operating.
“Upon delivery of all the machines, these 400 Antminer will
bring our total cryptocurrency mining machine count to 1,000. We
expect to be periodically ordering additional machines on an
ongoing basis," said Ronny Yakov, Chairman and CEO of the OLB
Group.
OLB provides merchants with omnicommerce services including
leading-edge crypto commerce capabilities, eCommerce, back-office
operations, and payment acceptance online, in store, and on mobile
devices. Merchants utilizing OLB’s OmniSoft Business Management
platform can transact with customers through digital wallets,
cryptocurrency wallets, and traditional card-based payment. OLB
expects to leverage DMint’s mining operations to power expanded
crypto commerce services including financing, lending, and
fundraising for its merchants and other small and medium sized
businesses.
Merchants interested in implementing crypto commerce or
omnicommerce services can set up an OmniSoft account at
https://cardaccept.com/#contact. For more information about The OLB
Group, please visit www.olb.com or www.olb.com/investors-data.
Future OLB Press Releases and Updates
Interested investors or shareholders can be notified of future
Press Releases and Industry Updates by emailing
investorrelations@OLB.com.
About DMint
DMint, Inc., a wholly owned subsidiary of The OLB Group, Inc.,
is engaged in Bitcoin mining. As a vertically integrated mining
company, DMint utilizes proprietary energy reserves to power the
latest Antminer S19j Pro mining computers, enabling them to mine
Bitcoin and other cryptocurrencies at a lower cost that their
competitors. DMint plans to increase total mining capacity to
24,000 mining computers over the next 24 months to build out
capacity to achieve 2.4 exahash per second.
About The OLB Group, Inc.
The OLB Group, Inc. (NASDAQ: OLB) is a diversified Fintech
eCommerce merchant services provider and Bitcoin crypto mining
enterprise. The Company's eCommerce platform delivers cloud-based
merchant services for web-based and bricks-and mortar companies for
a seamless, comprehensive digital commerce solution that includes
site creation, web hosting, customer service, outbound marketing,
sales reporting, transaction processing, order fulfillment and
payment facilitator offering crypto payment options. OLBit.com, a
wholly owned subsidiary of OLB Group, has applied for a license to
begin trading and accepting crypto currency for merchants. For more
information about solutions, services, or to find a reseller,
please visit www.olb.com. Investor information is available at
www.olb.com/investors-data.
Safe Harbor Statement
All statements from The OLB Group, Inc. in this news release
that are not based on historical fact are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 and the provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements include, but are not limited to, statements concerning
the impact of COVID-19 on our operations and financial condition,
our ability to successfully expand our Bitcoin mining capacity with
existing energy resources, our ability to implement our proprietary
merchant boarding and CRM system and to roll out our Omni Commerce
and SecurePay applications, including payment methods, to our
current merchants and the integration of our secure payment gateway
with our crowdfunding platform, our ability to successfully launch
a cryptocurrency mining operation and our ability to earn revenue
from the new operations. While the Company’s management has based
any forward-looking statements contained herein on its current
expectations, the information on which such expectations were based
may change. These forward-looking statements rely on a number of
assumptions concerning future events and are subject to a number of
risks, uncertainties, and other factors, many of which are outside
of our control, that could cause actual results to materially
differ from such statements. Such risks, uncertainties, and other
factors include statements regarding the expected revenue and
income for operations to be generated by The OLB Group, Inc. For
other factors that may cause our actual results to differ from
those that are expected, see the information under the caption
“Risk Factors” in the Company’s most recent Form 10-K and 10-Q
filings, and amendments thereto, as well as other public filings
with the SEC since such date. The Company operates in a rapidly
changing and competitive environment, and new risks may arise.
Accordingly, investors should not place any reliance on
forward-looking statements as a prediction of actual results. The
Company disclaims any intention to, and undertakes no obligation
to, update or revise any forward-looking statement.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220113005053/en/
The OLB Group - Investor Relations Rick Lutz
InvestorRelations@olb.com (212) 278-0900 EXT: 333
Old Line Bancshares (NASDAQ:OLBK)
Historical Stock Chart
From Sep 2024 to Oct 2024
Old Line Bancshares (NASDAQ:OLBK)
Historical Stock Chart
From Oct 2023 to Oct 2024