NEW YORK–(BUSINESS WIRE)–Aug 5, 2021–
The OLB Group, Inc. (NASDAQ: OLB), a supplier of cloud-based omnicommerce and fee acceptance options for small- and mid-sized retailers, introduced DMint, Inc., a wholly-owned subsidiary of OLB (“DMint”), is planning to convey roughly one thousand cryptocurrency mining machines on-line this yr operated by zero carbon footprint knowledge facilities.
OLB has entered into an unique settlement to buy all-natural fuel yield from wells in Bradford, PA by way of Cai Power Blockchain. The phrases of the settlement allow DMint to change into a vertically built-in cryptocurrency mining firm. The environmental affect footprint of the cryptocurrency mining operation will likely be near zero because the pure fuel will likely be taken straight 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 immediately embody entry to capital and expanded crypto commerce companies that assist them compete and stand out in any market,” mentioned Ronny Yakov, Chief Government Officer on the OLB Group. “We’ve taken an aggressive place with cryptocurrency and underlying blockchain know-how in our omnicommerce platforms. We consider that cryptocurrency can have a significant affect within the fee business and wish to be on the forefront of the business because it adopts acceptance of cryptocurrencies. We’re dedicated to develop with this market, and want to add different capabilities and companies that can broaden crypto commerce entry for our retailers.”
DMint has initiated the primary part of the cryptocurrency mining operation by inserting 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 likely 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 can have a mixed computing energy of roughly 100 petahash per second. Primarily based on the mining profitability price as of immediately, assuming a mining operation working at 100 petahash per second would generate $1 Million month-to-month recurring revenues anticipated beginning in This fall, 2021.
If the preliminary mining operation outcomes are as anticipated, DMint plans to broaden the variety of mining computer systems each quarter, whereby it could doubtlessly have the computing energy of 500 petahash per second by the top of 2022.
DMint plans to proceed to leverage Cai Power‘s breadth of expertise in fuel operations and acquisitions to make sure constant supply of pure fuel 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 normal energy grid,” mentioned Bessie Cai, Chief Government Officer of Cai Power Blockchain. “DMint can have entry to adequate pure fuel 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 big income and revenue engine for speedy natural progress on a quarter-to-quarter foundation going ahead.”
Retailers all for implementing cryptocurrency commerce or omnicommerce companies can arrange a SecurePay or OmniSoft account at https://cardaccept.com/#contact.
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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 which means of the Personal 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 are usually not restricted to, statements in regards to the affect 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 functions, together with fee strategies, to our present retailers and the combination of our safe fee 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 have been based mostly could change. These forward-looking statements depend on a variety of assumptions regarding future occasions and are topic to a variety of dangers, uncertainties, and different components, lots of that are outdoors 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 underneath the caption “Threat Elements” within the Firm’s most up-to-date Kind 10-Ok 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 surroundings, and new dangers could come up. Accordingly, traders 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 fee facilitator and commerce service supplier that delivers cloud-based service provider companies for web-based and brick-and-mortar organizations. OLB gives a seamless, end-to-end digital commerce resolution that features website creation, internet hosting, transaction processing and fee gateway, order achievement, customer support, outbound advertising and marketing, gross sales reporting, and fundraising. With companies from non-public label purchasing websites designed to keep up 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 know-how and options. For extra details about options, companies, or to discover a reseller, please go to www.olb.com. Investor info is on the market at www.olb.com/investors-data.
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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