DMG Also Announces New Director, Chair of Audit Committee
DMG Blockchain Solutions Inc. a vertically integrated blockchain and cryptocurrency technology company, announces it is working with several parties to develop funds specific for Terra Pool (www.terrapool.io) to manage bitcoin created exclusively from carbon-neutral mined bitcoin.
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DMG recently announced Terra Pool’s opening to the general Bitcoin mining public. DMG is now taking the next step to create a natural market mechanism where interested parties, who are looking for carbon-neutral mined bitcoin, can work with Terra Pool and its member miners to source bitcoin mined from carbon-neutral energy. By actively helping to create a marketplace of funds for Terra Pool’s mined bitcoin, DMG is aiding its pool users to connect with institutional buyers who are looking for a supply of carbon-neutral mined bitcoin without the need to search for each individual miner nor the need to audit the energy sources used to create their bitcoin.
“We are excited about the opportunity to match ESG-minded institutions directly with Terra Pool and its members who are creating bitcoin mined using exclusively carbon-neutral energy. We believe this is the most efficient way to catalyze the market for investors with ESG mandates to embrace the biggest and most liquid cryptocurrency – bitcoin,” said CEO Sheldon Bennett.
“As renewable energy is proving to be the lowest cost source of energy, especially given geopolitical uncertainties, we expect an increasing amount of the bitcoin mined going forward to be renewable energy based. By bringing together key partners – Terra Pool, ESG compliant bitcoin miners and financial institutions – DMG and its partners will be able to source and enable trading of bitcoin with the same high standards as any other financial asset class,” added COO, Steven Eliscu.
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Change of Directors
DMG also announces that independent Board Director, Justin Rasekh has resigned, effective July 15. Mr. Rasekh has served on DMG’s board for five years and has stepped into a new consulting role for DMG where he will be responsible for partnerships and international business development. Mr. Rasekh is being succeeded by Kelly Allin, who has served as DMG’s special advisor to the Audit Committee.
Mr. Allin has also been appointed to the Audit Committee as its Chair. Mr. Allin brings 30 years of professional experience, where he has served in many roles including CFO, Finance Director and Audit Partner. Moreover, as an experienced audit partner, Mr. Allin is well-placed to improve the interaction with the Company’s auditors and guide it through any reporting challenges. As DMG continues its corporate development, Mr. Allin’s experience will be supportive in progressing high standards of governance and transparency for DMG’s shareholders.
“We are pleased that we can welcome to the Board someone with the depth of experience of Mr. Kelly Allin. His expertise in public company reporting and disclosures from his many years as an audit partner in a Big Four accounting firm will support and guide us. Mr. Allin’s deep experience with mainstream business, regulatory matters and world-class control environments is expected to benefit DMG, as we navigate through the rapidly evolving cryptocurrency industry and strive to be best-in-class with the high standards and expectations of being a public company,” stated CEO Sheldon Bennett.
“I am thrilled to be joining the DMG Board and working with Sheldon, Steve and Adrian. I have been particularly impressed with the depth of their knowledge of the industry. With an ongoing industry-wide dialogue on regulation, and bitcoin becoming mainstream, it is an ideal time to combine my background in public company reporting and regulatory matters with an exciting growing company,” added Mr. Allin.
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