DMG Blockchain Expands Mining Capability With Additional 1,800 Crypto Miner Purchase

DMG Blockchain (TSXV: DMGI) this morning announced that it will be expanding its mining operations yet again. The firm has purchased an additional 1,800 crypto miners, adding a total of 252 Ph/s of computing power to its fleet.

The latest purchase consists of the newest generation of Bitmain’s Antminer S19, with each miner generating 140 terahashes per second. As a sign of the rising concerns of power consumption from crypto mining, the firm highlighted that the devices use “only 3.01 kilowatts to generate 140 terahashes.”

The order, once installed, is expected to finally push the firm over the 1 Eh/s mark in terms of overall operational capacity. As of mid-December, the company expects its operating capacity to be over 400 Ph/s, which at current difficulty levels implies 2.58 bitcoin per day being mined.

Delivery is set to take place in July, with 300 miners said to be scheduled to arrive each month for a period of six months after the first delivery.

DMG Blockchain last traded at $1.20 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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