DMG Blockchain Solutions Inc. a vertically integrated blockchain and cryptocurrency technology company, announces it has received the majority of the equipment it has ordered from Bitmain: 785 PH/s of the S19j Pro model and 210 PH/s of S19 XP model enabling nearly 1 EH/s of mining capacity. DMG expects to achieve more than 1 EH/s early in 2023 when it receives its remaining batch – 42 PH/s of the S19 XP. The company also plans to order additional miners based on its accumulated credit with Bitmain as well as make opportunistic miner purchases in the open market.
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In addition, DMG has made significant progress upgrading its Terra Pool software and expects to run its first Petra transactions through Terra Pool on the Bitcoin main-net early in 2023. Petra will enable the movement of bitcoin using carbon neutral energy sources and work in concert with its Walletscore technology, which screens out transactions with wallet addresses that have been blacklisted by the US Department of Treasury’s OFAC (Office of Foreign Assets Control).
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DMG’s CEO Sheldon Bennett commented, “With Petra and Walletscore deployed together, we remain optimistic that DMG can enable bitcoin transactions to happen in a carbon neutral manner ahead of likely tightened regulations in the wake of the FTX fallout.”
COO Purchases Company Shares
The company also announces that Steven Eliscu, DMG’s COO, recently purchased 100,000 of DMG shares in an open market purchase.
“As we are executing on our goals to build out a Core of leading-edge bitcoin mining infrastructure along with an ecosystem of software and services for monetizing bitcoin transactions, which we call Core+, I affirm my belief that DMG has the potential to create significant value,” Mr. Eliscu added.
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