- Flagship facility will make it one of the largest crypto mining facilities in North America with expected power capacity of up to 85 megawatts
- 40 megawatts of near-term power capacity planned to be online mid-year
- Mining facility to accommodate additional Mining-as-a-Service (MaaS) customers as well as DMG’s own mining and address substantial demand from Asia
DMG Blockchain Solutions Inc. (OTC: DMGGF) (TSX-V: DMGI) is pleased to announce that Phase 1 of its state-of-the-art cryptocurrency mining facility is nearly complete and ready to add power as well as infrastructure for more capacity for cryptocurrency miners. DMG’s facility is expected to accommodate a total power capacity of up to 85 megawatts with near-term expectations of 40 megawatts by mid-2018.
DMG’s crypto mining facilities and power access will be used for its Mining-as-a-Service (MaaS) clients and for DMG’s own use. This hybrid approach allows DMG to scale at a faster pace than a pure mining model, optimizing the use of its recently raised capital - it balances the capital requirements and high returns of the traditional mining model with the low capital intensity and calculable revenue generation of the MaaS model.
“DMG’s team has extensive experience working on industrial scale cryptocurrency mining and blockchain projects. Together with experienced local partners, we have access to the personnel, expertise, equipment, and power to expand our flagship facility to accommodate more miners for our MaaS customers and for ourselves,” said Daniel Reitzik, CEO and Director of DMG.
Sheldon Bennett, DMG’s COO added, “We believe this new facility will not only be one of the largest in North America in terms of electrical power capacity, but also it will employ proven technologies to improve the efficiency of mining. The collective support from local government, specialized contractors and British Columbia’s power providers has helped greatly to expedite this large project.”
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/477b81d2-d6ac-4c95-abaa-27ddd6197e9b
*This photo is a section of DMG’s flagship facility that is being set up for additional miners.
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