04:02:09 EDT Tue 07 May 2024
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DMG Blockchain Solutions Inc
Symbol DMGI
Shares Issued 168,860,315
Close 2024-02-29 C$ 0.60
Market Cap C$ 101,316,189
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DMG Blockchain talks up bitcoin blockchain services

2024-03-01 01:51 ET - News Release

Mr. Sheldon Bennett reports

DMG BLOCKCHAIN SOLUTIONS REITERATES LEADERSHIP IN BITCOIN BLOCKCHAIN SERVICES

DMG Blockchain Solutions Inc. has reiterated its technology leadership position for non-standard bitcoin transactions, having been the first to perform the ordinal inscription of a large digital art collection with 535 DeGods ordinals on Feb. 13, 2023, in bitcoin block 776508, which was mined by Terra Pool, DMG Blockchain's carbon-neutral pool. According to DeGods as posted on X, this was "the first time in history every transaction in a single bitcoin block was constructed for an artistic purpose."

Recently, Marathon Digital Holdings issued a press release, stating: "Marathon is the first bitcoin mining company to offer a direct transaction submission service. Because it is the only publicly traded bitcoin mining company that operates its own mining pool, Marathon is also the only known publicly traded bitcoin miner currently capable of offering such services."

DMG Blockchain, which is also a publicly traded bitcoin mining company, has been offering similar services for over a year, as it has its own pool, Terra Pool, which is powered by carbon-neutral energy.

DMG Blockchain publicly announced on Feb. 15, 2023, that it had utilized its Petra technology for performing several transactions. Subsequently, on March 2, 2023, DMG Blockchain announced it was leading the bitcoin industry, having utilized its Petra technology to be among the first to place carbon-neutral large ordinal transactions (that is, greater than 400 kilobytes) onto the bitcoin blockchain.

The DeGods collection was only one of a number of large ordinals inscribed by DMG Blockchain, including:

  • Feb. 16, 2023: rare Scrilla counterparty dancing frog (block 776884, 3.60 megabytes);
  • Feb. 23, 2023: bitcoin war bonds (block 777945, 3.93 megabytes);
  • March 22, 2023: bitcoin magazine cover (block 786501, 3.98 megabytes).

DMG Blockchain's achievements extend well beyond inscriptions of large ordinals: DMG Blockchain supported publishing of Bored Ape Yacht Club's TwelveFold collection (block 778772) as posted on X, "The satoshis that will be used to inscribe TwelveFold were sourced from a block mined by Terra Pool, a bitcoin mining pool exclusively powered by green energy."

DMG Blockchain also pioneered per ordinal rights transfer with its multibreeze technology in block 784173, in which it inscribed a large ordinal collection of 100 sequential art pieces. More recently, DMG Blockchain has utilized its technology to inscribe parent-child ordinals ahead of the now de facto standard (block 811775), as well as perform a novel method to incentivize validators of carbon-neutral bitcoin transactions (block 823323).

DMG Blockchain's chief executive officer, Sheldon Bennett, commented: "DMG has invested for years to create one of the most comprehensive bitcoin network infrastructure and application software suites along with a robust portfolio of intellectual property. We are proud of what we have been able to accomplish, and with our continued investments, we have an opportunity to not only be one of the first to offer new innovative services but also accelerate decarbonization of the bitcoin blockchain."

About DMG Blockchain Solutions Inc.

DMG Blockchain is an environmentally friendly vertically integrated blockchain and data centre company that manages, operates and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG Blockchain's sustainable businesses are segmented into two business lines under the Core and Core+ strategies and unified through DMG Blockchain's vertical integration.

We seek Safe Harbor.

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