DMG Blockchain (TSXV: DMGI) is expanding its crypto mining capacity. The company this morning announced that it has purchased an additional 3,600 bitcoin miners for an undisclosed price.
The addition of 3,600 miners is expected to add an additional 360 PH/s in hashrate to the firms operations, which is to bring the current capacity of the company to “well over 500 PH/s.” Delivery of the miners is set to begin in August, and continue over the course of the following twelve months. Specifics on unit delivery timelines were not provided.
The company is reportedly holding discussions with bitcoin mining equipment manufacturers regularly for further orders, with orders being made based on current retrofitting schedules for its facilities. The company is currently looking to complete its 85 MW flagship facility, while exploring other mining sites for growth into 2022.
Financial details of the transaction were not provided.
DMG Blockchain last traded at $1.65 on the TSX Venture.
Information for this analysis was found via Sedar and DMG Blockchain Solutions. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
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