DMG buys new Mining Machines

DMG Blockchain Solutions, a publicly traded bitcoin mining firm, has acquired 3,600 bitcoin mining machines.

Canadian tech giant DMG Blockchain Solution has installed 1,000 new Bitcoin  Machines. | by Andy Little | On The Block Publication | Medium

The order is expected to boost the Canadian company’s hashrate to over 500 petahashes per second, up from about 140 petahashes. (According to Luxor Tech, the seven-day moving average for Bitcoin’s total hashrate is 144 exahashes per second.) DMG’s stock is down 15% at $1.39 CAD ($1.11 USD) at press time.

The first shipments of these application specific circuit (ASIC) miners – computers designed to perform a single task, in this case, generating hashes to mine bitcoin – will arrive at DMG in August. The company anticipates receiving the order’s final batch.

Sources:
DMG Purchases 3,600 ASICs in North American Bitcoin Mining Expansion. (2021). Retrieved 19 April 2021, from https://www.coindesk.com/dmg-purchases-3600-asic-bitcoin-miners-north-america