DMG Blockchain Solutions Inc. (TSX-V: DMGI), is pleased to announced that it has secured a new customer for its bitcoin hosting business, known as “Mining-as-a-Service” (“MaaS”).
DMG received an order in excess of C$3 million from Forside Financial Services Inc. (“Forside”), a company headquartered in Tokyo, Japan for the hardware purchase and set-up, with monthly recurring hosting revenues to begin upon completion.
Forside is a diversified technology company listed on the JASDAQ Standard of the Tokyo Stock Exchange (Tokyo:2330).
Mr. Izumi, the Chairman of Forside commented “We are excited and thankful to have DMG provide MaaS for our company and look forward to completing more business in the future with DMG. We conducted due diligence and spoke to many other companies and decided to do business with DMG due to its knowledge and expertise in this sector.”
“DMG’s access to the Japanese market continues to grow and we look forward to doing more business with Forside,” said Chris Filiatrault, Co-Founder and Chairman of DMG.
Daniel Reitzik, Chief Executive Officer and Co-Founder of DMG commented “We are delighted to onboard our second major hosting client from Japan, which represents a significant market opportunity for us and further validation of our MaaS model.”
MaaS adopts a unique model by democratizing the ability for customers to become a cryptocurrency miner anywhere in the world in a cost-effective manner. DMG’s MaaS offering provides turn-key operations for clients by charging a set-up and monthly hosting fee.
In addition, DMG expects a previous order of an additional 1,000 S-9 bitcoin mining servers to arrive at one of its facilities in March, 2018.
DMG’s facilities and power access will be for its MaaS clients, and for DMG’s own use. This hybrid model allows DMG to scale at a faster pace and without as much capital, while at the same time enabling DMG to benefit from the appreciating value of bitcoin. This hybrid model balances out the capital requirements in the traditional mining model with the benefits of the value of bitcoin minted.