Blockchain technology firm DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB: DMGGF) (FSE: 6AX) today announced the acquisition of 1,800 Bitmain Antminer S19 XP 140 Th miners, the latest generation from Bitmain.
DMG is a vertically integrated blockchain and cryptocurrency firm that manages, maintains, and creates end-to-end digital capabilities to monetize the blockchain network. Using just 3.01 kilowatts of power, each miner can produce 140 terahashes, resulting in an extra 252 Ph/s of throughput after all 1,800 machines have been received, installed, and powered up. DMG will control slightly over 1 Eh/s of Bitcoin mining power with their latest order of 1,800 Bitmain S19 miners.
These 1,800 miners will begin arriving in July 2022, with 300 being delivered every month for the next six months. After DMG’s November Bitmain miners arrive in mid-December 2021, the company expects to achieve more than 400 Ph/s hashrate, which is anticipated to create 2.58 BTC per day based on different market conditions.
This was the completion of a 12-month process that began with a huge bulk purchase in August 2021 and continued with monthly supplementary shipments of 450 S19 miners for the next 12 months. Bitmain earlier supplied DMG with 7,850 S19 Bitcoin miners. Thus, DMG has acquired a total of 9,500 S19s from Bitmain in the amount of 1,037 PH/s.
In addition, DMG has granted 2,845,750 stock options to the Company’s directors and employees. On the six, twelve, eighteen, and twenty-four month anniversaries of the grant date, a quarter of the options will become exercisable at $1.20 per share.
