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DMG Blockchain Solutions is a diversified blockchain and cryptocurrency company that manages, operates and develops end-to-end blockchain solutions to monetize the blockchain ecosystem.

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DMG Blockchain Solutions Announce Bitcoin Mining As A Service Contract Of 7 Megawatts

DMG Blockchain Solutions Announce Super Bitcoin Mining Contract Of 7 Megawatts DMG Blockchain Solutions, the world-class cryptocurrency management company, has announced the signing of a Mining as a Service (MaaS) contract with a blockchain industry company. The new deal will see DMG host an approximately 7 megawatts worth of Bitcoin mining capacity for its new client. Further details unraveled in the agreement indicate that the new customer will pay an additional hosting fee for DMG's 4,200 newer-model Bitcoin miners. Apparent information also suggests that the contract run for three months, with automatic renewals available after each period. Dan Reitzik, CEO of DMG Blockchains states, “We are pleased that, just as we energized our new substation, we added a significant new client and we are now filling our capacity by DMG's MaaS growth strategy. We have been cautious to preserve capital in our first year as a public company by focusing on our MaaS hosting model.” Despite the recent drop in Bitcoin network computing power(has to rate), DMG Blockchain can confess that its mining capacity is still profitable at the current Bitcoin pricing, in regards to its operational basis. “Given our solid position, we are thus prepared to fill the remainder of our capacity with new generation mining equipment expected in the new year, which should result in additional cash flow generation for both DMG and our clients,” adds Reitzik. What Is Maas? Similarly to precious minerals, Bitcoin is also finite, and this presents a valuable opportunity for individuals and companies offering MaaS (Mining as a Service). DMG provides these MaaS solutions to investors and companies lacking the expertise to mine Bitcoin at an industrial scale. The firm's clear solutions enable the customers to procure experts who set up and manage the process on their behalf. The idea is to allow Bitcoin miners to make a decent profit that is only possible with the advanced experience and output by DMG's team of seasoned Bitcoin miners. For DMG, the goal is to achieve a steady flow of profits and revenue independent of the price volatility of Bitcoin. Increasing Industrial-Scale Mining DMG made an additional announcement of a contract expansion with a client using their hosting service. The contract expansion would include an extra 1,850 miners, making it worth approximately 2.5 megawatts. The company also expects older-model Bitcoin miners (1,650 units) from previous MaaS contracts to turn on their operations that were terminated for 90 days. Despite this, DMG still enjoys plenty of investing with more companies looking for professional mining services to diversify their portfolio. The company's stocks mirror the increasing positivity, with shares trading at 17 cents after a 6% value increase. Hopefully, the Bitcoin market could pick up and further propel DMG Blockchain solutions to more clients. About DMG Blockchain Solutions Canada-based cryptocurrency company DMG Blockchain Solutions Inc. is focused on two vital opportunities within the blockchain sector- mining public blockchains and applying permission-based protocols from blockchain technology to supply chains. The crypto firm features an 85-megawatt mining facility, state-of-the-art ASIC miners, BTC/LTC hosting, hardware pricing, and competitive hosting options.
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DMG Blockchain Signs 7 - Megawatt Bitcoin Mining Contract

VANCOUVER, British Columbia, Dec. 05, 2018 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSXV:DMGI) (DMGGF:OTC US) (FRANKFURT:6AX) ("DMG" or the "Company"), a diversified blockchain and cryptocurrency company, announced that it has signed a Mining as a Service (MaaS) contract with a major blockchain industry company to host approximately 7 megawatts of bitcoin mining capacity. Pursuant to the terms of the agreement, the new customer will pay DMG's hosting fee for approximately 4,200 newer-model bitcoin miners. The agreement term is three months, with automatic renewals every three months. Supporting DMG's ability to fill its mining capacity is the recent large drop in Bitcoin network computing power (hash rate), which enables large-scale industrial miners, like DMG customers, to still be profitable on an operational basis, even at current bitcoin pricing. DMG CEO, Dan Reitzik stated, "We are pleased that, just as we energized our new substation, we added a significant new client and we are now filling our capacity in accordance with DMG's MaaS growth strategy. We have been very careful to preserve capital in our first year as a public company by focusing on our MaaS hosting model. Given our solid position, we are thus prepared to fill the remainder of our capacity with new generation mining equipment in the new year, which should result in additional cash flow generation for both DMG and our clients." The Company also announced that an existing client is expanding its hosting contract with DMG to include an additional 1,850 miners (approximately 2.5 megawatts). As well, 1,650 older-model bitcoin miners (approximately 2 megawatts) from previous MaaS contracts have recently been turned off for up to 90 days for two clients with the option to turn back on at any time during the 90 days before their contracts would terminate. -------------------------------------------------About DMG Blockchain Solutions Inc.DMG Blockchain Solutions Inc. is a diversified blockchain and cryptocurrency company that manages, operates and develops end-to-end solutions to monetize the blockchain ecosystem. DMG, with its Blockseer division located in ...Full story available on Benzinga.com
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DMG Blockchain Announces 85-Megawatt Crypto Mining Facility

On November 8, 2018, blockchain and cryptocurrency mining firm DMG Blockchain announced the opening of its new 85-megawatt crypto mining facility in Canada, as per a press release by Global News Wire.  Massive Mining Facility DMG Blockchain Solutions Inc. has just announced the inauguration of a new crypto mining facility that is capable of a running an 85-megawatt mining operation....Read More. The post by Nuno Menezes appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News
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DMG Starts Operating 60MW Bitcoin Mine in British Columbia

DMG Blockchain Solutions has announced that it has started generating up to 60 megawatts (MW) of electricity at an 85MW substation it owns in western Canada. It will use the substation to power its flagship cryptocurrency mining facility, which is one of the largest such sites in the country by power output.  Also Read: Vietnam at Crossroads on Cryptocurrency Regulations DMG Partially Powers New Mining Facility The Vancouver-based company has started operations at its 27,000-square-foot cryptocurrency mine, which sits on a 34-acre site in British Columbia. The electricity used by the mine is estimated to be enough to power 50,000 homes. The facility is believed to be the second-biggest mining operation in Canada. The site is powered by clean hydroelectric power and will not have an impact on the electricity distributed to the local community. “DMG now proudly owns one of the largest, most cost-efficient, bitcoin mining facilities in North America,” said Dan Reitzik, chief executive officer of DMG. “It was an audacious undertaking, but DMG’s executive team has been in the mining space for years, and we have the know-how and connections with the utilities and government agencies to pull it off.” The site will provide low-cost energy to DMG, as well as third-party customers via its mining-as-a-service operation. The construction of the crypto mine took approximately one year. As part of the announcement, DMG also said that Simon Padgett has stepped down from his role as the director of the company. Hut8 and Bitfury Still Operate Largest Mine in Canada DMG’s new facility is expected to hold the distinction of being the most powerful cryptocurrency mine in Canada once it is fully powered. However, at the moment it still falls shy of a 63MW site that Hut8 and Bitfury are jointly operating in Medicine Hat, Alberta. Unlike DMG’s facility, the operation in Medicine Hat is powered by the local grid, which uses natural gas to generate electricity. “I’m in the business of making electricity and selling it to industrial users,” Ted Clugston, the mayor of Medicine Hat, recently stated. He also described the cryptocurrency mining industry as comprising “mining for ones and zeros” by converting “gas into electricity, which is being turned into Bitcoins.” Do you think crypto mining poses a challenge to the environment, or is it a form of electricity arbitrage across the global market? Share your thoughts in the comments section below! Images courtesy of Shutterstock At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more. The post DMG Starts Operating 60MW Bitcoin Mine in British Columbia appeared first on Bitcoin News.
Bitcoin News

What Bear Market? Major Bitcoin Mining Farm Goes Live in Canada

The bitcoin mining facility that DMG Blockchain Solutions announced it was building in British Columbia, Canada in July is now operational. Though the full capacity of the facility is 85 megawatts, initially only 60 megawatts will be made available at the operation that occupies 27,000 sq. ft. The power that the Mining as a Service The post What Bear Market? Major Bitcoin Mining Farm Goes Live in Canada appeared first on CCN
CCN

DMG Blockchain Officially Powers Up 85 Megawatt Cryptocurrency Mining Operation in Canada

The Canadian cryptocurrency and blockchain technology company DMG Blockchain Solutions Inc. announced that it decided to start a new cryptocurrency mining facility. As per the report released on November 8, DMG explains that the facility will start with 60 megawatts and will reach 85 megawatts in the future. The facility is one of the largest North American mining farms. As per the report, the company is located in an area that has abundant hydroelectric power. This is very important because it would allow the company to reduce electricity costs in a moment in which Bitcoin is operating stable close to $6,500 dollars. According to the statement, the company has a 27,000 square foot cryptocurrency mining-as-a-service (MaaS) in an area of 34 acres. It is important to mention that the operation will not be affecting the power needs of the residents of the region. Indeed, this is a key point of this mining facility that requires the same amount of energy to power 50,000 homes. Since Canada has an abundance of hydroelectricity plants and low power costs, the country became a very attractive location for virtual currency miners. Back in June, one of the most important Canadian electricity providers, Hydro-Québec announced new rules for companies interested in purchasing electricity. Firms will have to quantify the number of jobs created and the investment that they are expected to generate per megawatt. Dave Evdokimoff, CEO of Boundary Electric, said that the company has never seen a demand in the electrical manufacturing industry as it is being generated from the crypto space. About it, Evdokimoff said: “The opportunity to collaborate with DMG on projects has brought to the forefront their commitment to creative solutions facing their industry. DMG’s approach to the design process highlights a partnership strategy focusing on cost-effective solutions without compromising quality.” At the same time, Hydro-Quebec is also seeking to allocate around 500 megawatts in addition to the 120 megawatts that it already has in existing initiatives. Moreover, the company has also received over 100 requests from different organizations. The demand exceeds 10 terawatt hours. Cryptocurrency mining activities have expanded all over the world. China, Canada, Switzerland, Iceland, the United States and Russia became very important locations for mining activities. In order to remain profitable, companies searched for places with cold weather and cheap electricity. With the price of the most important virtual currencies in a bear trend since the beginning of the year, mining activities became almost unprofitable for some smaller and medium-sized miners. At the time of writing, Bitcoin’s hash rate is 43,213,784 TH/s. Since its all time high a few months ago, Bitcoin’s network lost 30% of its hash rate.
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Ruling on XRP’s status as a security unlikely until late 2020

Disclaimer: These summaries are provided for educational purposes only by Stephen Palley. They are not legal advice. These are our opinions only, aren’t authorized by any past, present or future client or employer. Also we might change our minds. We contain multitudes. A consolidated class action in federal court in Oakland may one day lead a court to rule on (1) whether Ripple violated U.S. Securities laws by creating the XRP token and (2) whether XRP is a security. That day will not be in 2019, judging from a scheduling order entered by the Court on March 18. The Order sets forth a schedule for roughly the next twelve months. Here's what's going to happen: By March 20, Plaintiffs will publish a notice under federal law that verifies that they read the complaint, authorized its filing, didn't buy XRP in oder to become plaintiffs, and a number of other things that are set forth in the Private Securities Litigation Reform Act (a law that was passed purportedly to prevent abuses class action practice. [related id=1]In 60 days, any member of the "purported class" can ask the court to be appointed as lead plaintiff and to approve selection of their counsel. This is a big deal from a financial standpoint for the lawyers, because the class lead will almost certainly earn more if there's a favorable result. As a result, you will see some litigation over this in about two months (we had a taste of that in the Tezos class action litigation, if you've followed that case). 45 days after the Court chooses the lead plaintiff, they will file a new complaint, which will replace all of the other complaints that the different plaintiffs filed. (As a reminder, this particular lawsuit consolidates or brings together a bunch of separately filed suits against Ripple). 45 days after the new complaint is filed, Defendants have to respond. Instead of answering, it is a virtual guarantee that they will file motions to dismiss. The parties will have 30 days to reply to the motion. All of the cases are ordered consolidated for pretrial purposes, which means that depositions, written discovery and motions will all be handled in this one case by this particular judge. If we build in time for the Court to rule and for some potential delay in the class rep designation process, it's possible that the Court will rule on Motions to Dismiss by the end of this year. It's also possible that this will role into next year. It's a dicey proposition to speculate on motions that haven't been filed yet, but if we assume that the motion to dismiss is denied -- which is usually the case if a Complaint is reasonably well pleaded -- we'd probably see an answer on file in early 2020. Discovery, class certification motions, and dispositive motions will likely take place in 2020 and 2021. It's possible that when the Court rules on the likely Motion to Dismiss we will see an indication as to whether or not the Court thinks a security is at issue, but Motions to Dismiss generally speaking don't address the merits of a case -- they assume that the facts stated are true for purposes of ruling, and will only look at whether or not a viable claim was pleaded. In short, I wouldn't expect to see a ruling on XRP's status as a security until late 2020 at the earliest.
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IOTA / USD Technical Analysis: Game Changer

IOTA is bullish in the short-term, with the cryptocurrency trading well above its 200-period moving average The medium-term outlook remains bearish for the IOTA / USD pair, with the cryptocurrency still trading below its 200-day moving average Both time frames show potential inverted head and shoulders patterns building IOTA / USD Short-term price analysis In the short-term, IOTA has a bullish trading bias, with the cryptocurrency trading well above its 200-period moving average of the four-hour time frame. The four-hour time frame shows multiple inverted head and shoulders patterns, with price trading close to the neckline of the bullish patterns. If an upside breakout does occur, the larger bullish pattern’s overall bullish objective will likely be the November 15th trading high from last year.     IOTA / USD H4 Chart                                                                         (Source: TradingvView)     Pattern Watch Traders should note the target of the smaller bullish inverted head and shoulders pattern on the four-hour time frame will likely be the current 2019 trading high. MACD Indicator The MACD indicator on the four-hour time frame remains bullish, with the MACD signal line crossing higher. Relative Strength Index The RSI indicator on the four-hour time frame is bullish, although downside pressures are building. IOTA / USD Medium-term price analysis IOTA remains bearish in the medium-term, with the cryptocurrency still unable to move above its key 200-day moving average. The daily time frame clearly shows two potential inverted head and shoulders patterns that could start to take shape over the medium-term. The upside projection of the smaller inverted head and shoulders pattern would take the IOTA / USD pair towards levels not seen since October 2018. Technical indicators on the daily time frame remain bullish and continue to signal further gains ahead.     IOTA / USD Daily Chart                                                 (Source: TradingView)     Pattern Watch It is worth noting that the IOTA / USD pair’s 200-day moving average is located just below the neckline of the smaller inverted head and shoulders pattern. MACD Indicator The MACD indicator on the daily time frame is bullish and generating a buy signal. Relative Strength Index The RSI indicator is bullish on the daily time frame, although it is starting to correct lower. Conclusion The presence of multiple inverted head and shoulders patterns on the four-hour time frame highlights that the IOTA / USD pair has scope to trade much higher over the short-term. A sustained technical breakout above IOTA’s 200-day moving average would be a game changer for the cryptocurrency over the medium-term, although caution is advised until a bullish breakout is confirmed.   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IOTA(IOT) Price $0.310 Market Cap$862,262,752.00 #ccpw-ticker-24524 .ccc-chart-header { background: #1c71ff} #ccpw-ticker-24524 #ccc-chart-block .exportBtnTop, #ccpw-ticker-24524 a.tabperiods.tabperiods_active, #ccpw-ticker-24524 .coin_details { color: #1c71ff; background: rgba(28,113,255,0.15); } #ccpw-ticker-24524 .coin_details { border: 1px solid rgba(28,113,255,0.16); } .ccpw-container_chart #ccpw-ticker-24524 .coin-container:after, .ccpw-container_four #ccpw-ticker-24524 .coin-container:after {border-color:#ccc !Important;} Join the conversation on Telegram and Twitter!   Decentral Media, Inc., the publisher of Crypto Briefing, is not an investment advisor and does not offer or provide investment advice or other financial advice. Nothing on this website constitutes, or should be relied on as, investment advice or financial advice of any kind. Specifically, none of the information on this website constitutes, or should be relied on as, a suggestion, offer, or other solicitation to engage in, or refrain from engaging in, any purchase, sale, or any other any investment-related activity with respect to any transaction. You should never make an investment decision on an investment based solely on the information on our website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an investment. The post IOTA / USD Technical Analysis: Game Changer appeared first on Crypto Briefing.
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During Second Half of 2018, Vitalik Buterin Cashed Out $40 Million in Ethereum (ETH)

With so many prominent figures in the cryptocurrency world, it should come as no surprise that a deep dive into the history of these influencers arises every now and then. Alex Sunnarborg, who is a founding partner of the Tetra Capital crypto hedge fund, decided to dig into the historical account data of Vitalik Buterin. […]
Bitcoin Exchange Guide

Adoption: Customers can now pay with IOTA in Stores that Accept Apple Pay and Samsung Pay following Zeux Integration

As a means of encouraging wider use, Payments and banking services app Zeux has integrated IOTA (MIOTA) for crypto payments in stores for retailers in a collaboration with IOTA Foundation. This is to be fully available in a few weeks time according to an announcement by the Zeux team on Medium. According to founder and co-chairman of IOTA Foundation David Sønstebø, this partnership is a major step for the company that will make IOTA use more convenient. “This partnership with Zeux will provide a significant convenience benefit for IOTA ecosystem. We are very excited about this. Now IOTA digital currency can be used as payment with merchants that accept Apple Pay and Samsung Pay. By combining existing technology with another form of currency, this is a big step forward towards the adoption of crypto for the masses.’’ Speaking on the partnership, Founder and CEO of Zeux Frank Zhou said it is an avenue to increase the adoption of the digital asset and is just the first step to giving IOTA users more financial freedom. Meanwhile, IOTA has gained over 5% since the announcement of its integration with Zeux. this is an indication of the potential adoption this cryptocurrency stands to gain as a result of the integration which will bring it to thousands if not millions of users worldwide. Zeux is an app of the UK origin that provides payment services. The app is to be launched in April and made available in Europe within the year and America in 2020. Its integration of IOTA is a win-win as the CEO described IOTA’s Tangle as an ideal platform for them to build their customer data Dapp. Tangle is a specialized distributed ledger technology that is specifically meant for the internet of things, which the IOTA Foundation’s primary mission is to support. Apart from fee-less real-time payments, the Tangle is also an open-source protocol that facilitates secure data transfer and the collection and dissemination of sensor-based and other data. Zeux mission is to bring crypto as well as fiat micropayments to retail stores around the world through facilitating fee-less real-time payment as well as enabling integration of banking and investment services with it in one, making it a convenient way to do everything with funds without going out of the app. The post Adoption: Customers can now pay with IOTA in Stores that Accept Apple Pay and Samsung Pay following Zeux Integration appeared first on ZyCrypto.
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