Total
0
Shares
DMG Blockchain (TSXV:DMGI) takes position in Black Box Manufacturing
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • DMG Blockchain Solutions (DMGI) has purchased a 15 per cent stake in Black Box Manufacturing for C$30,000
  • Black Box is a Vancouver-based company that specializes in the design and manufacturing of electrical and mechanical enclosures
  • DMG's investment will lead to faster manufacturing lead times, fixed pricing on projects and free engineering expertise and design
  • Thanks to Black Box, DMG will now be able to manufacture almost 100 per cent of its mining infrastructure locally and offer it across North America
  • DMG manages, operates and develops end-to-end digital solutions to monetize the blockchain ecosystem
  • DMG Blockchain Solutions (DMGI) is down by 6.4 per cent and is currently trading at $0.58 per share

DMG Blockchain Solutions (DMGI) has purchased a 15 per cent stake in Black Box Manufacturing for C$30,000.

Black Box is a Vancouver-based company that specializes in the design and manufacturing of electrical and mechanical enclosures for crypto mining, transformers, electrical control and distribution, and generator sets, among others.

Investment strategy

DMG's investment, which holds future rights to increase or exit, will enable the company to access faster manufacturing lead times, fixed pricing on projects and free engineering expertise and design.

Thanks to Black Box, DMG will now be able to manufacture almost 100 per cent of its mining infrastructure locally, as well as supply mining infrastructure to other crypto mining operations throughout North America.

DMG’s initial order is for 450 custom power channels, creating spaces for 10,800 next-gen ASIC bitcoin miners. The company will also order up to 15 forty-foot containers, immersion cooling retrofitting and client-bound crypto equipment.

Black Box will also lead DMG’s planned solar panel deployment at its 80 MW Christina Lake facility.

Sheldon Bennett, DMG’s CEO, commented,

"By direct investment in a local Vancouver manufacturing company, DMG will be able to execute more efficiently on its robust growth plans, confident that it can rely on Black Box to not only manufacture, but also to project manage, design and install. This new partnership is key to our growth strategy as we are looking to add more crypto mining locations - especially with the new uptake in requests for assistance coming out of Asia."

DMG manages, operates and develops end-to-end digital solutions to monetize the blockchain ecosystem.

DMG Blockchain Solutions (DMGI) is down by 6.4 per cent and is currently trading at $0.58 per share as of 9:33 am ET.

More From The Market Herald
Bluesky Digital Assets - CEO, Ben Gelfand. - The Market Herald Canada

" Bluesky Digital Assets (CSE:BTC) announces $3.25 million private placement

Bluesky Digital (BTC) has announced a C$3.25 million private placement with institutional investors.
Blockchain Intelligence Group - President, Lance Morginn. - The Market Herald Canada

" BIGG Digital Assets (CSE:BIGG) partners with XinFin

BIGG (BIGG) has partnered with XinFin, developer of the enterprise-ready hybrid blockchain network, XDC.
LUXXFOLIO (CSE:LUXX) announces DTC eligibility and listing on the Börse Berlin

" LUXXFOLIO (CSE:LUXX) announces DTC eligibility and listing on the Börse Berlin

LUXXFOLIO Holdings (LUXX) has received confirmation that its common shares are now eligible to be electronically cleared and settled through the DTC.
DMG Blockchain (TSXV:DMGI) takes position in Black Box Manufacturing

" LUXXFOLIO (CSE:LUXX) lists on the Frankfurt Exchange

LUXXFOLIO Holdings (LUXX) is pleased to announce that the company’s shares are now available for trading on the Frankfurt Exchange.