NEW YORK–(BUSINESS WIRE)–Aug 5, 2021–
The OLB Group, Inc. (NASDAQ: OLB), a supplier of cloud-based omnicommerce and cost acceptance options for small- and mid-sized retailers, introduced DMint, Inc., a wholly-owned subsidiary of OLB (“DMint”), is planning to carry roughly one thousand cryptocurrency mining machines on-line this 12 months operated by zero carbon footprint knowledge facilities.
OLB has entered into an unique settlement to buy all-natural gasoline yield from wells in Bradford, PA by means of Cai Power Blockchain. The phrases of the settlement allow DMint to change into a vertically built-in cryptocurrency mining firm. The environmental influence footprint of the cryptocurrency mining operation will probably be near zero because the pure gasoline will probably be taken instantly from the nicely heads to generate electrical energy.
“DMint is an integral a part of OLB’s multi-stage technique to empower our retailers with enhanced companies, which at present embody entry to capital and expanded crypto commerce companies that assist them compete and stand out in any market,” stated Ronny Yakov, Chief Govt Officer on the OLB Group. “We have now taken an aggressive place with cryptocurrency and underlying blockchain expertise in our omnicommerce platforms. We consider that cryptocurrency may have a significant influence within the cost trade and wish to be on the forefront of the trade because it adopts acceptance of cryptocurrencies. We’re dedicated to develop with this market, and want to add different capabilities and companies that can develop crypto commerce entry for our retailers.”
DMint has initiated the primary section of the cryptocurrency mining operation by putting buy orders for knowledge facilities and ASIC-based Antminer S19J Professional mining computer systems particularly configured to mine Bitcoin. The primary lot of kit will probably be used to determine a proof of idea earlier than DMint expands the variety of computer systems in operation. As configured, it’s anticipated that the computer systems bought may have a mixed computing energy of roughly 100 petahash per second. Based mostly on the mining profitability fee as of at present, assuming a mining operation working at 100 petahash per second would generate $1 Million month-to-month recurring revenues anticipated beginning in This autumn, 2021.
If the preliminary mining operation outcomes are as anticipated, DMint plans to develop the variety of mining computer systems each quarter, whereby it could doubtlessly have the computing energy of 500 petahash per second by the tip of 2022.
DMint plans to proceed to leverage Cai Power‘s breadth of expertise in gasoline operations and acquisitions to make sure constant supply of pure gasoline obligatory to supply electrical energy for its cryptocurrency mining operations as they’re expanded.
“Cryptocurrency mining consumes electrical energy at charges that exceed the out there capability of the standard energy grid,” stated Bessie Cai, Chief Govt Officer of Cai Power Blockchain. “DMint may have entry to ample pure gasoline to supply the 100MW of electrical energy obligatory for the preliminary knowledge facilities, and Cai Power has already secured as much as 1000MW of electrical energy capability for additional enlargement.”
Yakov added, “As soon as up and operating, the DMint’s cryptocurrency mining operations will present OLB with a major income and revenue engine for speedy natural progress on a quarter-to-quarter foundation going ahead.”
Retailers concerned with implementing cryptocurrency commerce or omnicommerce companies can arrange a SecurePay or OmniSoft account at https://cardaccept.com/#contact.
Future OLB Press Releases and Updates
buyers or shareholders might be notified of future Press Releases and Trade Updates by e-mailing investorrelations@OLB.com.
Secure Harbor Assertion
All statements from The OLB Group, Inc. on this information launch that aren’t based mostly on historic truth are “forward-looking statements” throughout the that means of the Non-public Securities Litigation Reform Act of 1995 and the provisions of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended. These forward-looking statements embody, however will not be restricted to, statements in regards to the influence of COVID-19 on our operations and monetary situation, our skill to implement our proprietary service provider boarding and CRM system and to roll out our Omni Commerce and SecurePay purposes, together with cost strategies, to our present retailers and the combination of our safe cost gateway with our crowdfunding platform, our skill to efficiently launch a cryptocurrency mining operation and our skill to earn income from the brand new operations. Whereas the Firm’s administration has based mostly any forward-looking statements contained herein on its present expectations, the data on which such expectations had been based mostly might change. These forward-looking statements depend on quite a lot of assumptions regarding future occasions and are topic to quite a lot of dangers, uncertainties, and different components, a lot of that are exterior of our management, that might trigger precise outcomes to materially differ from such statements. Such dangers, uncertainties, and different components embody statements relating to the anticipated income and revenue for operations to be generated by The OLB Group, Inc. For different components which will trigger our precise outcomes to vary from these which can be anticipated, see the data below the caption “Danger Components” within the Firm’s most up-to-date Type 10-Okay and 10-Q filings, and amendments thereto, in addition to different public filings with the SEC since such date. The Firm operates in a quickly altering and aggressive atmosphere, and new dangers might come up. Accordingly, buyers mustn’t place any reliance on forward-looking statements as a prediction of precise outcomes. The Firm disclaims any intention to, and undertakes no obligation to, replace or revise any forward-looking assertion.
About The OLB Group, Inc.
The OLB Group, Inc. is a cost facilitator and commerce service supplier that delivers cloud-based service provider companies for web-based and brick-and-mortar organizations. OLB offers a seamless, end-to-end digital commerce answer that features website creation, internet hosting, transaction processing and cost gateway, order achievement, customer support, outbound advertising and marketing, gross sales reporting, and fundraising. With companies from non-public label purchasing websites designed to take care of the distinctive look or really feel of the service provider web site, to order achievement and customer support, OLB stays invisible to the person and promotes the service provider’s model with market-leading expertise and options. For extra details about options, companies, or to discover a reseller, please go to www.olb.com. Investor data is offered at www.olb.com/investors-data.
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CONTACT: The OLB Group – Investor Relations
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KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA NEW YORK
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SOURCE: The OLB Group, Inc.
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PUB: 08/05/2021 09:30 AM/DISC: 08/05/2021 09:31 AM