DMG Announces Preliminary Q4 2021 Revenue Guidance of $3.5

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VANCOUVER, British Columbia, March 03, 2022 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG” or the “Company”), a vertically integrated blockchain and cryptocurrency technology company, has released certain preliminary revenue guidance for the three-month period ending September 30, 2021 (fourth quarter). All financial information contained in this press release is unaudited and is expressed in Canadian dollars, unless otherwise indicated.

Driven by the receipt of new crypto miners at the end of the fourth quarter, DMG’s mining capacity has increased, resulting in an expected consolidated revenue for the fourth quarter of 2021 of around 3.5 to $4 million from $1.7 million in Q3 2021, an increase of approximately 50-55%. quarter by quarter.

The Company expects to file its audited financial statements and related MD&A for the year ended September 30, 2021 during the month of March 2022.

Basic operations

DMG’s unaudited coin production for Q4 mining operations is estimated at 47-50 BTC, depending on network difficulty and overall mining hash rate, a significant gain of just under 600% compared to Q3 production figures of 7.16 BTC. Additionally, the company estimates an average hash rate at the end of the fourth quarter of approximately 280 Ph/s, which represents a gain of 229% compared to 85 Ph/s at the end of the third quarter.

As previously reported, DMG ordered 7,850 S19j Pros and 1,800 S19 XPs Bitcoin miners from Bitmain for a total hashrate of 1,037 PH/s. Currently, DMG is operating an average of 510 PH/s and has received around 50% of its hashrate orders.

Basic operations +

DMG’s previously announced Core+ strategy continues to take shape. Its pool services for MaraPool have found 181 blocks at the end of September 2021 since its launch at the start of the fourth quarter. Discussions are ongoing with Argo Blockchain on a renewable energy pool planned for early 2022.

“We are pleased with the shift in our strategy from a primarily hosting-focused business to a greater focus on auto-crypto mining. Our first big shipment of new miners arrived at the end of Q4 , and we were able to generate new revenue from new installed equipment. Our team made significant progress in deploying Core Mining hashrate as well as Core+ software platforms,” comments Sheldon Bennett, CEO of DMG.

About DMG Blockchain Solutions Inc.

DMG is a vertically integrated, eco-friendly blockchain and cryptocurrency company that manages, operates and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG’s sustainable business is segmented into three main divisions: data center operations, data analytics and forensics, and enterprise blockchain development. DMG’s clean data center operations focus on generating environmentally friendly revenue from block rewards and transaction fees by primarily mining bitcoin, as well as providing hosting services for industrial mining customers powered entirely by renewable energy. DMG’s data analytics and forensics services provide technical expertise software products such as Blockseer Pool, Mine Manager and Walletscore, as well as collaboration with auditors, law firms and enforcement agencies of the law. DMG’s permissioned blockchain technology focuses on the development of enterprise software for supply chain management of controlled products. DMG’s strategy is to become the domain experts in the vertical business areas it focuses on. DMG’s environmentally-committed leadership team includes seasoned crypto experts, forensic and financial professionals, and blockchain developers with deep industry-wide connections and a strong ecological awareness.

Future changes in Bitcoin network-wide mining difficulty rate or Bitcoin hash rate could materially affect the future performance of DMG’s Bitcoin production, and future operating results could also be materially affected by Bitcoin price and an increase in hash rate mining difficulty.

For more information about DMG Blockchain Solutions, visit: www.dmgblockchain.com
To follow @dmgblockchain on Twitter and subscribe to The DMG YouTube channel.

On behalf of the Board of Directors,
Sheldon Bennett, CEO and Director

For more information, please contact:

DMG Blockchain Solutions Inc.
E-mail: [email protected]

The Web: www.dmgblockchain.com

Contact with Investor Relations:
CORE IR 516-222-2560

For media inquiries:
Jules Abraham, Public Relations Manager
COREIR
917-885-7378
[email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Caution Regarding Forward-Looking Information

This press release contains forward-looking information or statements based on current expectations. Forward-looking statements in this press release include statements regarding revenue forecasts, Bitcoin production estimates, a planned renewable energy pool with Argo, 2022 outlook and plans, delivery dates and expected installation of Bitcoin miners, expected Ph/s of additional Bitcoin miners, expected Bitcoin produced each day, filing of audited financial statements, hiring of more employees and staff, development and execution of the Company’s products and services, the launch of products and services, including the Terra Pool, container manufacturing, events, action plans and the potential of the Company’s technology and operations, among others, are all forward-looking information.

Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forward-looking terms such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue”. or the negative thereof or similar variants. Readers are cautioned that the assumptions used in preparing any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those anticipated due to numerous known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control, including, but without limitation, market and other economic conditions, common stock price volatility, business, economic and financial market conditions; the ability to manage operating expenses, which could adversely affect the Company’s financial condition; the ability to remain competitive as other, better-funded competitors develop and market competitive products; regulatory uncertainties; access to equipment; market conditions and product demand and prices; bitcoin demand and price; security threats, including loss/theft of DMG 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 launch new products on a timely basis that meet customer needs; the ability to attract, retain and motivate qualified personnel; industry competition; the impact of technological changes on products and the industry; inability to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend claims of third parties for 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 reliance on key personnel. DMG may not achieve its plans, projections or expectations. These 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 demand for its products, ability to successfully develop software, there will be no regulations or laws that will prevent the Company from carrying on business, expected costs, ability to obtain sufficient capital to carry out its business plans, ability to achieve its objectives and the price of bitcoin. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. DMG’s securities are considered highly speculative due to the nature of DMG’s business. For more information regarding these and other risks and uncertainties, please see the Company’s filings at www.SEDAR.com.

Factors that could cause actual results to differ materially from those in the forward-looking statements include, failure to obtain regulatory approval, continued availability of capital and financing, equipment failures, lack of supply of equipment, electricity and infrastructure, the inability to obtain permits necessary to operate the business, the impact of technological 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 staff, competition, security threats, including bitcoins stolen from DMG or its customers, consumer sentiment towards products, services and DMG’s blockchain technology in general, inability to develop new and innovative products, litigation, increased operating costs, increased team costs and labor, decline in Bitcoin price, inability of counterparties to perform contractual obligations, government regulations, loss of key employees and consultants, and general environmental liability economic, market, or business conditions . The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further, the Company assumes no obligation to comment on any expectations or representations made by third parties with respect to the matters discussed above.

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