DMG Blockchain’s B.C. crypto mine now op­er­a­tional

Stockwatch Daily - - MINES & METALS - Mr. Daniel Reitzik re­ports

DMG BLOCKCHAIN So­lu­tions Inc. has suc­cess­fully en­er­gized up to 60 megawatts of its 85-megawatt crypto mine.

High­lights:

• DMG Blockchain So­lu­tions has en­er­gized its sub­sta­tion in West­ern Canada, an area with abun­dant hy­dro­elec­tric power.

• DMG Blockchain So­lu­tions’ sub­sta­tion will bring re­li­able, low-cost en­ergy to its oper­a­tions and third-party-hosted cus­tomers through min ing as a ser­vice (MaaS).

• DMG Blockchain So­lu­tions’ en­gi­neer­ing, con­struc­tion and com­mis­sion­ing were among the low­est cost and fastest builds ex­e­cuted in the power in­dus­try.

• The flag­ship fa­cil­ity will start with 60 megawatts, ex­pand­able to 85 megawatts, mak­ing it one of North Amer­ica’s largest Bit­coin and crypto min­ing fa­cil­i­ties.

DMG Blockchain So­lu­tions’ 27,000-square-foot crypto MaaS op­er­a­tion sits on 34 acres in British Columbia, Canada, and is one of the largest such oper­a­tions in North Amer­ica. The fa­cil­ity is cur­rently us­ing clean hy­dro­elec­tric power and will not have any im­pact on the power needs of the lo­cal com­mu­nity.

“In Bound­ary Elec­tric’s 71 years of busi­ness, we have never seen a de­mand in the elec­tri­cal man­u­fac­tur­ing in­dus­try quite like what is be­ing gen­er­ated from the crypto space. The op­por­tu­nity to col­lab­o­rate with DMG on projects has brought to the fore­front their com­mit­ment to cre­ative so­lu­tions fac­ing their in­dus­try. DMG’s ap­proach to the de­sign process high­lights a part­ner­ship strat­egy fo­cus­ing on cost-ef­fec­tive so­lu­tions

with­out com­pro­mis­ing qual­ity,” com­mented Dave Ev­doki­moff, chief ex­ec­u­tive of­fi­cer of Bound­ary Elec­tric.

DMG Blockchain So­lu­tions’ green-pow­ered crypto mine took nearly a year to com­plete and in­cluded build­ing its own road, in­stalling its own power sub­sta­tion and cre­at­ing many jobs.

Ja­son Wolfe, di­rec­tor of en­ergy so­lu­tions at For­tisBC, com­mented: “For­tisBC is ex­cited to be work­ing with DMG on this project. Not only is DMG one of the largest elec­tric cus­tomers we have ever con­nected, but it’s an emerg­ing in­dus­try that’s pro­vid­ing new op­por­tu­nity for ru­ral com­mu­ni­ties.”

The power that DMG Blockchain So­lu­tions is bring­ing to its new fa­cil­ity is enough to power a city of 50,000 homes, but is in­de­pen­dent from the lo­cal com­mu­nity grid.

“DMG now proudly owns one of the largest, most cost-ef­fi­cient Bit­coin min­ing fa­cil­i­ties in North Amer­ica — and we’re do­ing it in a re­spon­si­ble way with the lo­cal com­mu­nity,” com­mented Dan Reitzik, chief ex­ec­u­tive of­fi­cer of DMG Blockchain So­lu­tions. “It was an au­da­cious un­der­tak­ing, but DMG’s ex­ec­u­tive team has been in the min­ing space for years, and we have the know-how and con­nec­tions with the util­i­ties and govern­ment agen­cies to pull it off.”

Si­mon Pad­gett has stepped down as a di­rec­tor DMG Blockchain So­lu­tions.

About DMG Blockchain So­lu­tions Inc.

DMG Blockchain So­lu­tions is a diver­si­fied blockchain and cryp­tocur­rency com­pany that man­ages, op­er­ates and de­vel­ops end-to-end so­lu­tions to mon­e­tize the blockchain ecosys­tem. DMG Blockchain So­lu­tions, with its re­search and devel­op­ment en­gi­neer­ing team lo­cated in Sil­i­con Val­ley, in­tends to be the global leader in in­dus­trial scale crypto mine host­ing — min­ing as a ser­vice, crypto min­ing, blockchain foren­sics/an­a­lyt­ics and blockchain plat­form devel­op­ment.

We seek Safe Har­bor.

Shel­don Ben­nett, Si­mon Pad­gett, Justin Rasekh, Daniel Reitzik

(DMGI) Shares: 93,249,482

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.