Canada, Nov. 6, 2020 /AlexaBlockchain/ – DMG Blockchain Solutions Inc. has added HIVE as a hosting client and sold 1,240 M30s miners in an all cash transaction for US$3.4 million.
DMG is a diversified cryptocurrency and blockchain platform company which is focused on the two primary opportunities in the sector – mining public blockchains and applying permissioned blockchain technology.
Hive’s new miners will be hosted by DMG at the Company’s facility in Christina Lake BC.
HIVE is one of the leading North American-based digital currency miners and was one the first mining companies to publicly list on a major stock exchange.
DMG has had business discussions with HIVE in the past, but this transaction represents the first hardware sale and hosting agreement between the companies. Proceeds will be used to pay equipment financing charges and to potentially secure DMG’s upcoming mining fleet.
Dan Reitzik, Founder and CEO of DMG Blockchain Solutions Inc., said, “DMG is excited to add Hive as a new hosting client and partner. This transaction strengthens DMG’s balance sheet as we continue to work towards our self-mining goals, and to ensure DMG’s fleet continues to be newest generation technology. We will provide an update detailing our miner purchase strategy in the near future”.