A small-cap tech company just announced that it has been engaged by a new client to host 2,000 Bitcoin miners. According to the release, all miner are expected to arrive at the company’s 85 megawatt (MW) Christina Lake, B.C. data centre this week. Shares of DMG Blockchain Solutions Inc. (OTCQB:DMGGF) rallied on the news.
DMG Blockchain is a full-service blockchain and cryptocurrency company. It manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem. It is also involved in server hosting and other similar service arrangements for the transaction verification services business and software solutions.
The company engages in the research and development of technology solutions related to the transaction verification business. It derives revenue from Cryptocurrency mining, Sale of mining equipment, and Set-up and hosting fees.
Traders were bullish on the news as not only is this a great feat for the company, but with the uplift in crypto that we’ve been witnessing this week, this rally was warranted. Shares are trading at $0.67514/share (+7.46%) at the time of writing.