VANCOUVER, British Columbia, Jan. 30, 2023 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG”), a vertically integrated blockchain and cryptocurrency technology company, today announces its fourth quarter and full fiscal-year financial results. All financial references are in Canadian Dollars unless specified otherwise.

Recent Highlights

• Increased hashrate during fiscal year 2022 from 15 PH/s to 700 PH/s

• Strong balance sheet at fiscal year-end with $10.5 million in cash and digital currency with no debt

• For full year 2022, $43.2 million revenue, $1.5 million income before other items, $17.0 million net loss (-$0.10 per share)

Readers are encouraged to review the Company’s September 30, 2022 year-ended audited financial statements and management’s discussion and analysis thereof for a fulsome assessment of the Company’s performance and applicable risk factors, available at www.sedar.com.

Sheldon Bennett, DMG Blockchain Solutions’ Chief Executive Officer, commented, “DMG has successfully managed through a very difficult crypto currency market with bitcoin-Canadian dollar price declining 56% during our financial year 2022.   Despite these challenging market conditions, we outperformed many of our competitors, which experienced severe financial hardships as a result of the industry downturn and subsequent environment resulting from the FTX situation. Our prudent approach to drive…