DMG Blockchain Solutions Announce Super Bitcoin Mining Contract Of 7 Megawatts
DMG Blockchain Solutions, the world-class cryptocurrency management company, has announced the signing of a Mining as a Service (MaaS) contract with a blockchain industry company. The new deal will see DMG host an approximately 7 megawatts worth of Bitcoin mining capacity for its new client.
Further details unraveled in the agreement indicate that the new customer will pay an additional hosting fee for DMG's 4,200 newer-model Bitcoin miners. Apparent information also suggests that the contract run for three months, with automatic renewals available after each period.
Dan Reitzik, CEO of DMG Blockchains states,
“We are pleased that, just as we energized our new substation, we added a significant new client and we are now filling our capacity by DMG's MaaS growth strategy. We have been cautious to preserve capital in our first year as a public company by focusing on our MaaS hosting model.”
Despite the recent drop in Bitcoin network computing power(has to rate), DMG Blockchain can confess that its mining capacity is still profitable at the current Bitcoin pricing, in regards to its operational basis.
“Given our solid position, we are thus prepared to fill the remainder of our capacity with new generation mining equipment expected in the new year, which should result in additional cash flow generation for both DMG and our clients,” adds Reitzik.
What Is Maas?
Similarly to precious minerals, Bitcoin is also finite, and this presents a valuable opportunity for individuals and companies offering MaaS (Mining as a Service). DMG provides these MaaS solutions to investors and companies lacking the expertise to mine Bitcoin at an industrial scale.
The firm's clear solutions enable the customers to procure experts who set up and manage the process on their behalf. The idea is to allow Bitcoin miners to make a decent profit that is only possible with the advanced experience and output by DMG's team of seasoned Bitcoin miners. For DMG, the goal is to achieve a steady flow of profits and revenue independent of the price volatility of Bitcoin.
Increasing Industrial-Scale Mining
DMG made an additional announcement of a contract expansion with a client using their hosting service. The contract expansion would include an extra 1,850 miners, making it worth approximately 2.5 megawatts. The company also expects older-model Bitcoin miners (1,650 units) from previous MaaS contracts to turn on their operations that were terminated for 90 days.
Despite this, DMG still enjoys plenty of investing with more companies looking for professional mining services to diversify their portfolio. The company's stocks mirror the increasing positivity, with shares trading at 17 cents after a 6% value increase. Hopefully, the Bitcoin market could pick up and further propel DMG Blockchain solutions to more clients.
About DMG Blockchain Solutions
Canada-based cryptocurrency company DMG Blockchain Solutions Inc. is focused on two vital opportunities within the blockchain sector- mining public blockchains and applying permission-based protocols from blockchain technology to supply chains. The crypto firm features an 85-megawatt mining facility, state-of-the-art ASIC miners, BTC/LTC hosting, hardware pricing, and competitive hosting options.