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by Stockwatch Business Reporter
The TSX Venture Exchange added 1.04 points to 830.69 Wednesday. Geoff Balderson's halted Aim Exploration Ltd. (AXN) has a filing statement for its qualifying transaction. The company is acquiring Dan Reitzik and Chris Filiatraut's bitcoin miner DMG Blockchain Solutions Inc. DMG, which has been touting itself as a bitcoin miner for the past several months, has finally shared its financials. The company sold $850,000 worth of bitcoin during the year ended Sept. 30, 2017. It cost $530,000 to mine that bitcoin, which left it with $230,000 in operating profit. After all of its other expenses, it recorded a $530,000 loss. During that time, the price of bitcoin traded mostly around $1,000. It has been quite volatile since, peaking at just over $17,000 (U.S.) in December, 2017, and dropping back to $7,200 (U.S.) this week. Today it closed at $8,075 (U.S.).
All of DMG's bitcoin was mined using its 300 mining machines in Edmonton, Alta. It is now planning to move those machines to a newer, larger facility it is leasing in Trail, B.C. The 34-acre property has a 27,000-square-foot warehouse that could hold up to 20,000 bitcoin mining machines. DMG has ordered 8,100. The first 1,600 should arrive any day. It hopes to receive the rest in March and April.
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