DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF)
(FRANKFURT: 6AX) (“DMG” or the “Company”), a vertically integrated
blockchain and cryptocurrency technology company, today announces
it will release financial results for its second quarter 2023
ending March 31, 2023 on Tuesday, May 30 after the market close.
The Company will host a conference call to review its results and
provide a corporate update on May 31, 2023 at 4:15 pm ET.
DMG Receives Energy Web’s Certification
for Sustainable Bitcoin Mining
DMG announces it is among the first five miners
to be certified for sustainable Bitcoin mining by Energy Web, which
is an independent non-profit that develops open-source software for
clean energy solutions. On May 24, Energy Web announced its launch
of Green Proofs for Bitcoin (GP4BTC.org), a first-of-its kind
initiative to establish an independent, standardized energy
measurement system for the Bitcoin mining industry.
DMG’s CEO, Sheldon Bennett, commented, “We are
pleased to be included among the initial Green Proofs for Bitcoin
miner participants. We believe Energy Web’s launch of GP4BTC
represents a real first step towards recognizing a broad swath of
industry participants for powering their data center equipment
utilizing primarily carbon neutral energy sources. We are in sync
with Energy Web’s stated goal to create a virtuous cycle where
clean mining is easier to define, pursue and monetize so that it
eventually becomes the status quo.”
About Energy Web
Energy Web is a global non-profit accelerating the clean energy
transition by developing open-source technology solutions for
energy systems. Our enterprise-grade solutions improve coordination
across complex energy markets, unlocking the full potential of
clean, distributed energy resources for businesses, grid operators,
and customers. Our solutions for enterprise asset management, data
exchange, and Green Proofs, our tool for registering and tracking
low-carbon products, are underpinned by the Energy Web Chain, the
world’s first public blockchain tailored to the energy sector. The
Energy Web ecosystem comprises leading utilities, renewable energy
developers, grid operators, corporate energy buyers, automotive,
IoT, telecommunications leaders, and more. More information on
Energy Web can be found at www.energyweb.org or on Twitter
@EnergyWebX.
About DMG Blockchain Solutions Inc.
DMG is an environmentally friendly vertically
integrated blockchain and cryptocurrency 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
Twitter and subscribe to DMG's YouTube channel.
For further information, please contact:
DMG Blockchain Solutions Inc.Email:
investors@dmgblockchain.comWeb: www.dmgblockchain.com
Investor Relations
Contact:CORE IR 516-222-2560
For Media Inquiries:Jules
AbrahamCORE IR917-885-7378julesa@coreir.com
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 the expected filing of the interim financial
statements for the period ended March 31, 2023 and the conference
call, the planned monetization of certain product and service
offerings, developing and executing on the Company’s products,
services and business plans, 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.
Future changes in the Bitcoin network-wide
mining difficulty rate or Bitcoin hash rate may materially affect
the future performance of DMG’s production of Bitcoin, and future
operating results could also be materially affected by the price of
Bitcoin and an increase in hash rate mining difficulty.
Forward-looking statements consist of statements
that are not purely historical, including any statements regarding
beliefs, plans, expectations, or intentions regarding the future.
Such information can generally be identified by the use of
forwarding-looking wording such as "may", "expect", "estimate",
"anticipate", "intend", "believe" and "continue" or the negative
thereof or similar variations. The reader is cautioned that
assumptions used in the preparation of any forward-looking
information may prove to be incorrect. Events or circumstances may
cause actual results to differ materially from those predicted, as
a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the Company,
including but not limited to, market and other conditions,
volatility in the trading price of the common shares of the
Company, business, economic and capital market conditions; the
ability to manage operating expenses, which may adversely affect
the Company's financial condition; the ability to remain
competitive as other better financed competitors develop and
release competitive products; regulatory uncertainties; access to
equipment; market conditions and the demand and pricing for
products; the demand and pricing of bitcoins; security threats,
including a loss/theft of DMG's bitcoins; DMG's relationships with
its customers, distributors and business partners; the inability to
add more power to DMG's facilities; DMG's ability to successfully
define, design and release new products in a timely manner that
meet customers' needs; the ability to attract, retain and motivate
qualified personnel; competition in the industry; the impact of
technology changes on the products and industry; failure to develop
new and innovative products; the ability to successfully maintain
and enforce our intellectual property rights and defend third-party
claims of infringement of their intellectual property rights; the
impact of intellectual property litigation that could materially
and adversely affect the business; the ability to manage working
capital; and the dependence on key personnel. DMG may not actually
achieve its plans, projections, or expectations. Such statements
and information are based on numerous assumptions regarding present
and future business strategies and the environment in which the
Company will operate in the future, including the demand for its
products, the ability to successfully develop software, that there
will be no regulation or law that will prevent the Company from
operating its business, anticipated costs, the ability to secure
sufficient capital to complete its business plans, the ability to
achieve goals and the price of bitcoin. Given these risks,
uncertainties, and assumptions, you should not place undue reliance
on these forward-looking statements. The securities of DMG are
considered highly speculative due to the nature of DMG's business.
For further information concerning these and other risks and
uncertainties, refer to the Company’s filings on www.SEDAR.com. In
addition, DMG’s past financial performance may not be a reliable
indicator of future performance.
Factors that could cause actual results to
differ materially from those in forward-looking statements include,
failure to obtain regulatory approval, the continued availability
of capital and financing, equipment failures, lack of supply of
equipment, power and infrastructure, failure to obtain any permits
required to operate the business, the impact of technology changes
on the industry, the impact of Covid-19 or other viruses and
diseases on the Company's ability to operate, secure equipment, and
hire personnel, competition, security threats including stolen
bitcoins from DMG or its customers, consumer sentiment towards
DMG's products, services and blockchain technology generally,
failure to develop new and innovative products, litigation, adverse
weather or climate events, increase in operating costs, increase in
equipment and labor costs, decrease in the price of Bitcoin,
failure of counterparties to perform their contractual obligations,
government regulations, loss of key employees and consultants, and
general economic, market or business conditions. Forward-looking
statements contained in this news release are expressly qualified
by this cautionary statement. The reader is cautioned not to place
undue reliance on any forward-looking information. The
forward-looking statements contained in this news release are made
as of the date of this news release. Except as required by law, the
Company disclaims any intention and assumes no obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events, or otherwise. Additionally, the
Company undertakes no obligation to comment on the expectations of
or statements made by third parties in respect of the matters
discussed above.
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