VANCOUVER, British Columbia, Nov. 11, 2024 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG”), a leader in blockchain vertically integrated data center technology company, announces that it has achieved SOC 2 Type II compliance under the American Institute of Certified Public Accountants (AICPA) standards for SOC for Service Organizations, also known as SSAE 18. This rigorous standard is designed to protect customer data. by verifying that a service provider’s systems and processes meet AICPA Trust Services criteria, giving customers increased confidence in the company’s approach to security and regulatory compliance. Achieving this standard with a clean opinion serves as third-party industry validation that DMG provides enterprise-grade security for customer data secured in DMG’s Terra Pool.
The independent SOC 2 Type II audit, carried out by an approved third-party auditor, provided DMG with a verified certificate of compliance, confirming that the company’s security controls and processes meet these stringent requirements. With this attestation, DMG demonstrates its commitment to operational excellence and best practices in data security, reflecting the company’s focus on supporting customer trust and satisfaction through its services.
DMG CEO Sheldon Bennett commented: “As SOC 2 Type II compliance becomes a requirement for any digital asset business that deals with sensitive customer data, we are proud that when we onboard Terra Pool customers, they can have complete confidence in DMG’s approach to security. and regulatory compliance. Virtually all large financial and public companies prefer to work with SOC 2 Type II certified software platforms because their compliance and security policies typically default to these vendors; blockchain software is no exception. As security threats constantly evolve and we continue to upgrade our software infrastructure to support Terra Pool, achieving SOC 2 Type II compliance is a validation of not only the work we have accomplished thus far, but it is also part of an ongoing process of ongoing compliance. improve our systems and stay ahead of new security threats to protect customer data in the future.
DMG buys its first tranche of Bitmain Hydro miners
DMG purchased Bitmain S21 Hydro miners for just under $15 per TH/s to fill its first one-megawatt hydro mining container (the remaining five megawatts of hydro mining capacity will be ordered in a future close). At 16 D/TH, this first tranche of hydro miners represents the most efficient miners in DMG’s mining fleet and is expected to produce 63 PH/s. These hydroelectric miners are expected to be received at DMG’s Christina Lake facility near the end of the calendar year, when the company expects to have received and installed its six one-megawatt hydroelectric containers. DMG plans to order, receive and install the hydro miners for the remaining five one-megawatt hydro containers in early 2025.
About Piscine Terra
Terra Pool is the world’s first carbon-neutral Bitcoin mining pool, designed to reward miners with carbon-neutral Bitcoin. It plays a crucial role in promoting a carbon-neutral Bitcoin ecosystem. Once integrated with DMG subsidiary Systemic Trust, a digital asset custodian, financial institutions and content creators will have the ability to send Bitcoin in a carbon-neutral and regulatory-compliant manner.
About DMG Blockchain Solutions inc.
DMG is a sustainable, vertically integrated blockchain and data center technology company that develops, manages and operates comprehensive platform solutions to monetize the blockchain ecosystem. The company’s operations are based on two strategic pillars: Core and Core+, both unified by DMG’s commitment to vertical integration and environmentally responsible practices. DMG subsidiary Systemic Trust Corporation focuses on digital asset custody.
For more information on DMG Blockchain solutions, visit: www.dmgblockchain.com
Follow @dmgblockchain on X, LinkedIn, Facebook and subscribe to the DMG YouTube channel.
For more information, please contact:
On behalf of the board of directors,
Sheldon Bennett, CEO and Director
Tel: +1 (778) 300-5406
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
For investor relations:
investors@dmgblockchain.com
For media inquiries:
Chantelle Borelli
Communications manager
chantelle@dmgblockchain.com
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 contained in this press release include statements regarding the anticipated arrival of S21 Hydro miners in calendar year 2025 and the expected additional ordering, receipt and installation of miners for the five hydro containers d ‘one megawatt remaining at the start of calendar year 2025., DMG’s strategies and plans, the potential and benefits of Terra Pool, the provision of products enabling the monetization of Bitcoin transactions, the development and execution of the products and services of the Company, the increase in self-mining, the launch of products and services, events, share prices and the potential of the Company’s technology and operations, among others, are all forward-looking information.
Future changes in the Bitcoin network-wide mining difficulty rate or the hash rate of Bitcoin could materially affect the future performance of DMG’s bitcoin production, and future operating results could also be materially affected. affected by the price of bitcoin and an increase in hash rate mining difficulties.
Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intentions regarding the future. This information generally can be identified by the use of forward-looking language such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or their negative form or similar variants. . The reader is cautioned that 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 not limited to limit, market and other factors. conditions, volatility of the price of the Company’s common stock, business, economic and financial market conditions; the ability to manage operating expenses, which could have an adverse effect on the financial condition of the Company; the ability to remain competitive as other, better-financed competitors develop and launch competitive products; regulatory uncertainties; access to equipment; market conditions, demand and prices for products; the demand and price of bitcoins; security threats, including loss/theft of DMG bitcoins; DMG’s relationships with its customers, distributors and commercial partners; the inability to add more power to DMG’s facilities; DMG’s ability to successfully define, design and launch new products in a timely manner that meet customer needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technological changes on products and the industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third party claims regarding infringement of their intellectual property rights; the impact of intellectual property litigation that could have a material adverse effect on the business; the ability to manage working capital; and dependence on key personnel. DMG may not actually 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 the demand for its products, the ability to successfully develop software, the lack of regulation or law. which will prevent the Company from operating its business, anticipated costs, the ability to obtain sufficient capital to carry out its business plans, the 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 securities are considered highly speculative due to the nature of DMG’s business. For additional information regarding these and other risks and uncertainties, see the Company’s filings at www.sedarplus.ca. In addition, DMG’s past financial performance may not be a reliable indicator of future performance.
Factors that could cause actual results to differ materially from those in forward-looking statements include inability to obtain regulatory approval, continued availability of capital and financing, equipment failures, lack of supply in equipment, electricity and infrastructure, the inability to obtain permits. required to operate the business, the impact of technological changes on the industry, the impact of viruses and diseases on the Company’s ability to operate, secure equipment and hire personnel, competition, threats security, including bitcoins stolen from DMG or its customers, consumer sentiment toward DMG’s products, services and blockchain technology in general, failure to develop new and innovative products, litigation, adverse weather or climate events, increased operating costs, increased equipment and labor costs, equipment failures, decline in the price of Bitcoin, failure of counterparties to fulfill their contractual obligations, government regulations, loss of key employees and consultants and general economic, market or business conditions. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The reader is 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 assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further, the Company undertakes no obligation to comment on any expectations or statements made by third parties regarding the matters discussed above.
