Terra Pool Joins Crypto Climate Accord
VANCOUVER, British Columbia, June 30, 2021 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB: DMGGF) (FSE: 6AX) (“DMG” or the “Company”) a publicly traded, vertically integrated blockchain and cryptocurrency technology company, announces today that Terra Pool, a clean Bitcoin mining pool partnership between DMG and Argo Blockchain plc (LSE: ARB.L) has joined the Crypto Climate Accord (CCA) to accelerate digital solutions that decarbonize the crypto mining and blockchain sector as a whole. DMG, along with Argo, are the first two signatories of the CCA.
Together with a fast-growing community, Terra Pool joins the CCA as an active supporter by informing and testing new open-source Hashrate software now in development that will make it obvious for bitcoin miners to verify their renewable energy sourcing. CCA supporters like Terra Pool approve of the Accord’s objectives and are involved with helping advise, develop, and scale solutions in support of the CCA.
“DMG is committed to continued support of the Crypto Climate Accord with the introduction of Terra Pool,” stated Sheldon Bennett, CEO of DMG. “Additionally, using DMG’s proprietary data centre management software, which is specifically designed for crypto miners as well as working with EnergyWeb, the CCA’s technology partner, jointly we can scale faster and bring technical energy solutions to the industry combining industrial power tracking and bitcoin miner consumption.”
“We at Energy Web are excited to work together with Terra Pool and DMG’s software team to build green Hashrate software that bitcoin mining pools like Terra Pool can use for its KYC process and ongoing monitoring of miners in the pool,” said Jesse Morris, CEO of Energy Web. “Together, we can set a new digital standard for ESG transparency for other sectors to follow.”
DMG will be discussing Terra Pool at the Unlocking Blockchain Adoption Mining Disrupt Conference in Miami, Florida on July 20-21, 2021. Please visit the Company’s booth (#63) during the event.
About Terra Pool
Terra Pool is the world’s first Bitcoin mining pool powered exclusively by clean energy. The purpose of this initiative is to expedite the shift from conventional power to clean energy and reduce the impact of Bitcoin mining on the environment.
DMG’s goal is to eliminate significant greenhouse gas emissions over the next decade. DMG’s leadership in Terra Pool intends to work with like-minded Bitcoin miners to expedite the shift from conventional power to clean energy.
Transparency on Energy Consumption
Terra Pool will offer better transparency and will bring change to the crypto mining sector, creating a strong incentive and platform for crypto miners to produce Bitcoin in a climate-conscious way.
About the CCA
In an effort to decarbonize the global crypto industry by prioritizing climate stewardship and creating the opportunity for the entire crypto industry’s transition to net-zero greenhouse gas emissions by 2040, the CCA has outlined the following objectives:
- Achieve net-zero emissions from electricity consumption for CCA signatories by 2030;
- Develop standards, tools and technologies with CCA supporters to accelerate the adoption of and verify progress toward 100 per cent renewably powered blockchains by the 2025 UNFCCC (United Nations Framework Convention on Climate Change) COP30 conference.
About Energy Web
Energy Web (EW) is a global nonprofit organization accelerating a low-carbon, customer-centric electricity system by unleashing the potential of open-source, decentralized technologies. EW focuses on building core infrastructure and shared technology, speeding adoption of commercial solutions, and fostering a community of practice. Energy Web’s software product, Energy Web Chain, is the world’s first open-source enterprise blockchain platform tailored to the energy sector.
About Argo Blockchain Plc
Argo Blockchain plc is a global leader in cryptocurrency mining with one of the largest and most efficient operations powered by clean energy. The Company is headquartered in London, UK and its shares are listed on the Main Market of the London Stock Exchange under the ticker: ARB and on the OTCQX Best Market in the United States under the ticker: ARBKF.
For more information on Argo Blockchain visit:
About DMG Blockchain Solutions Inc.
DMG is an environmentally friendly vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG’s sustainable businesses are segmented into three main divisions: data centre operations, data analytics and forensics and developing enterprise blockchains. DMG’s non-polluting data centre operations focus on earning eco-friendly revenues from block rewards and transaction fees by mining primarily bitcoin as well as providing hosting services for industrial mining clients entirely powered by renewable energy. DMG’s data analytics and forensic services provide technical expertise software products such as Blockseer Pool, Mine Manager and Walletscore, as well as working with auditors, law firms, and law enforcement organizations. DMG’s permissioned blockchain technology is focused on developing enterprise software for the supply chain management of controlled products. DMG’s strategy is to become the domain experts across the business verticals it focuses on. DMG’s environmentally committed management team includes seasoned crypto experts, forensic & financial professionals and blockchain developers with deep relationships throughout the industry and a strong ecological consciousness.
Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hashrate may materially affect the future performance of DMG’s production of Bitcoin, and future operational results could also be materially affected by the price of Bitcoin and an increase in hashrate mining difficulty.
On behalf of the Board of Directors,
Sheldon Bennett, CEO & Director
For further information, please contact:
CORE IR 516-222-2560
For Media Inquiries:
Jules Abraham, Head of Public Relations
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information based on current expectations. Forward-looking statements contained in this news release include statements regarding Terra Pool and the expected outcomes and benefits, the ability to enter the market sooner than anticipated with certain products and services, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, market and other conditions, volatility in the trading price of the Common Shares, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoins; security threats, including a loss/theft of DMG’s bitcoins; DMG’s relationships with its customers, distributors and business partners; the inability to add more power to DMG’s facilities; DMG’s ability to successfully define, design and release new products in a timely manner that meet customers’ needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.
The securities of DMG are considered highly speculative due to the nature of DMG’s business.
Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoins from DMG or its customers, consumer sentiment towards DMG’s products, services and blockchain technology generally, failure to develop new and innovative products, litigation, increase in operating costs, increase in equipment and labor costs, decrease in the price of Bitcoin, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by third parties in respect of the matters discussed above.