Block Chain

DMG Blockchain Solutions Quarterly Revenue Leaps $14.2m, up 639% Year-over-Year

Blockchain and cryptocurrency firm DMG Blockchain Solutions announced a file income of $14.2 million within the first quarter of 2022, up 639% yr over yr.

The firm mentioned due to the supply and set up of ordered crypto miners, the corporate’s hash price has been elevated to over 400PH/s as of December 31, 2021, leading to a leap in income enhance. 

Compared to the primary quarter of final yr, gross margin and internet earnings had been $11.5 million and $5.9 million, a rise of two,000% and 826%, respectively.

The monetary report said that as of December 31, 2021, the whole belongings had been $119 million, with 432 BTCEarning per share(EPS) rose to $0.03 per share, up from a loss per share (0.01) a yr in the past, CEO Sheldon Bennett mentioned:

“A tremendous amount of work has gone in by the entire team to reach these results. For the first time, the company is posting strong financial gains and we believe this will continue through many more quarters due to our large investment in new mining equipment. The whole team is focused on operational excellence for this new fleet of servers as well as working hard to launch several new software solutions throughout the year,”

DMG is a publicly traded and vertically built-in blockchain and cryptocurrency firm that manages, operates, and develops end-to-end digital options to monetize the blockchain ecosystem. The firm introduced that it’s going to maintain a convention name to overview its monetary outcomes for the fourth quarter of 2021 and the primary quarter of 2022 and to offer an replace on the outcomes of the overview on Wednesday, March 30.

Image supply: Shutterstock

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