DMG Provides Year in Review, December Mining Results

DMG Provides Year in Review, December Mining Results

Calendar 2022 was an important year for DMG Blockchain Solutions, as the Company transitioned towards becoming a full-fledged self-miner and is now much better positioned for the long-term:

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DMG provides its December operational update
— #DMG Blockchain Solutions (#@dmgblockchain)
6:21 PM • Jan 3, 2023

Core StrategyDMG nearly reached its bitcoin mining computational capacity goal of 1 EH/s at the end of calendar 2022. As an update on our longer-term mining goals, we still plan to implement immersion cooling, from which we expect to achieve up to a 40% hashrate increase. However, our time frame for deployment will likely extend beyond our prior guidance for mid-calendar 2023. Based on our expectation of slow or no bitcoin network hashrate growth in coming months, assuming bitcoin pricing remains around current levels, we may still be able to grow our hashrate faster than the bitcoin network over the next 12 months with very limited and highly targeted capital investments.

Core+ StrategyIn our Core+ software, we have slowed our development pace due to market conditions. Our key objectives for Core+ going forward will be to: 1) grow our Terra Pool hashrate with a longer-term goal of reaching 10% network share; 2) create a carbon neutral BTC marketplace; and 3) actively transact bitcoin in a carbon neutral manner through Terra Pool using our Petra technology. We remain committed to these goals, as we believe achieving them will enable us to grow our Core+ revenue to be significantly larger in the long-term.We also plan to make our first Petra main-net bitcoin transaction soon. Petra enables financial institutions to transact bitcoin using carbon neutral energy sources, while DMG’s Walletscore technology ensures they are not commingling their bitcoin with transactions using wallets that have been blacklisted by the US Department of Treasury’s OFAC (Office of Foreign Assets Control).

December 2022 preliminary mining resultsDMG mined 104.6 bitcoin with 0.91 EH/s realized hashrate. DMG’s bitcoin balance as of December 31, 2022 was 454 bitcoin.

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