DMG Blockchain Solutions, a vertically integrated blockchain and cryptocurrency technology company, announces June preliminary mining results: DMG mined 53.2 bitcoin with 0.71 EH/s realized hashrate. DMG’s bitcoin balance as of April 30, 2023 was 509 bitcoin.
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Prime Trust
In addition to the vast majority of DMG’s digital assets being self custodied, DMG does have a small portion at Prime Trust, a qualified custodian, in the state of Nevada. Recently Prime Trust was issued a cease-and-desist order from the State of Nevada, Department of Business and Industry, Financial Institutions Division (FID) and then subsequently was petitioned to be placed into receivership. DMG currently holds approximately 49 bitcoin and 45 ether which it does not have access to while the FID investigates Prime Trust. The Company does not have a timeline for access to those assets while the Nevada regulator is undertaking its investigation. As of June 30, 2023, the Company held 509 bitcoin, and the inability to access its digital assets held at Prime Trust will have no effect on DMG’s business operations nor plans.
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Grant of Stock Options
DMG also announces it has granted 1,638,790 stock options (“Options”) to employees and directors of the Company. The Options are exercisable for a period of five years at a price of $0.33 per share and will vest as to 25% on each of the six-, 12-, 18- and 24- month anniversaries of the grant date.
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 two business lines under the Core and Core+ strategies and unified through DMG’s vertical integration.
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