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- DMG intends to become the global leader in hosted bitcoin mining operations with the launch of ‘Mining as a Service’ (MaaS)
- Significant demand from the Bitmasters network provides DMG fast-track opportunity to initiate sales in Japan, with a global launch to follow
- MaaS offering provides DMG a first mover advantage in Japan by lowering capital requirement to enable anyone to become a cryptocurrency miner
VANCOUVER, British Columbia, Dec. 14, 2017 (GLOBE NEWSWIRE) — Aim Explorations Ltd. (TSX-V:AXN.H) (“AIM” and/or the “Company“), a capital pool company, is pleased to announce that its qualifying transaction target, DMG Blockchain Solutions Inc. (“DMG“), recently launched a bitcoin mining model, Mining-as-a-Service (“MaaS“), at the annual Bitmasters Conference in Kobe, Japan, attended by more than 1,500 members of the Bitmasters network. The Bitmasters network is comprised of tens of thousands of members who are bitcoin owners and influencers, many of whom are personally interested in mining bitcoin, in addition to buying via traditional bitcoin exchange channels.
DMG’s Chief Executive Officer, Dan Reitzik commented, “Our partnership with the Bitmasters network, and its position in Japan, the world’s largest and most regulated bitcoin market, provides DMG an opportunity to scale quickly and on a priority basis. By enabling our customers to mine their own bitcoin in a clear and transparent manner, I believe we have the right offering at the right time. The Japanese demand remains strong and we plan to address the broader global market in short order.”
MaaS adopts a unique model by democratizing the ability for anyone to become a cryptocurrency miner anywhere in a cost-effective manner. DMG’s MaaS offering provides turn-key operations for clients by charging a simple and low cost set-up and monthly hosting fee. Customers may purchase their dedicated assets and their resulting monthly bitcoin output is delivered to them directly.
DMG’s team recently presented and announced the launch of MaaS in Kobe, Japan at the annual Bitmasters Conference. MaaS interest from the Bitmasters network was strong and DMG received an order in excess of CAD$3 million for the hardware purchase and set-up, with monthly recurring hosting revenues to begin upon completion.
Subscriber demand for MaaS from the Bitmasters network is expected to be met by DMG in the Spring of 2018. Most of the servers will be hosted at DMG’s new industrial mining facility, which is comprised of a 27,000 square foot building on 34 acres of land in Western Canada. DMG has the ability to expand the hosting center with containers or new buildings by an additional 75,000 square feet to accommodate additional demand, subject to obtaining the necessary permits.
DMG anticipates that its facilities and power access will be for its MaaS clients, and for DMG’s own use. This hybrid model allows DMG to scale at a faster pace and without as much capital, while at the same time enabling DMG to benefit from the appreciating value of bitcoin. This hybrid model balances out the capital requirements in the traditional mining model with the benefits of the value of bitcoin minted.
Kiyoshi Nishi, the Chief Executive Officer of the Bitmasters network, commented, “Bitmasters’ members have been buying bitcoin for more than four years and we are tremendously excited to be able to mine bitcoins for ourselves. The Bitmasters network decided to work with DMG after extensive due diligence into other companies around the world. We look forward to introducing our members to DMG’s MaaS model.”
See AIM’s news release dated December 4, 2017 for further information about AIM, DMG and the previously announced qualifying transaction (the “Transaction“). AIM will issue additional news releases related to the Transaction and related financings and other material information as it becomes available. There can be no assurance that the Transaction will be completed as proposed or at all.
DMG Blockchain Solutions Inc. is a full service blockchain and cryptocurrency company that manages, operates and develops end-to-end solutions to monetize the blockchain ecosystem. DMG intends to be the global leader in bitcoin mining hosting, Mining as a Service (MaaS), and diversified blockchain platform development.
For further information please contact:
DMG Blockchain Solutions Inc.
Investor Relations: John Martin
Toll Free: 1-888-702-0258
Email: [email protected]
Geoff Balderson, Chief Executive Officer of Aim Explorations Ltd.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold in the “United States”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.
Cautionary Note Regarding Forward-Looking Information
Completion of the Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and, if applicable, pursuant to the requirements of the Exchange, shareholder approval. There can be no assurance that the Transaction or the Offering will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
Trading in the common shares of the Company has been halted in accordance with the policies of the TSX Venture Exchange and will remain halted until such time as all required documentation has been filed with and accepted by the Exchange and permission to resume trading has been obtained from the Exchange. All information in this news release concerning DMG has been provided for inclusion herein by DMG. Although AIM has no knowledge that would indicate that any information contained herein concerning DMG is untrue or incomplete, AIM assumes no responsibility for the accuracy or completeness of any such information.
The TSX Venture Exchange has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.
Certain statements in this press release are forward-looking statements, which include completion of the proposed Transaction and related financing, the acquisition of more customers from the Bitmasters network, the expansion on any facilities, the allocation of resources to Maas and DMG’s own bitcoin mining, the completion of any transaction including hosting contracts with potential customers, development of technologies, future plans, regulatory approvals and other matters. 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, business, economic and capital market conditions, the ability to manage operating expenses, security threats, and dependence on key personnel. 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 and services, the ability to receive any necessary permits to operate its business and expand facilities, that there will be no regulation or law that will prevent DMG from operating its business, the ability to successfully develop software, anticipated costs, the ability to achieve goals on time and on budget, and the price of bitcoin.
Factors that could cause the 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, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, 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, 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 press release are made as of the date of this press release. Except as required by law, AIM 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, AIM undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. DMG may not actually achieve its plans, projections, or expectations. Given the foregoing risks, uncertainties and assumptions, you should not place undue reliance on forward-looking statements.
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 release.
(Not for dissemination in the United States of America)