Total Cryptocurrency Market Capitalization Holds Above $400 Billion

NEW YORK, February 13, 2018 /PRNewswire/ --

According to data from CoinMarketCap, the total market capitalizations of cryptocurrency market held steady above $400 billion. The sector has rebounded over 50 percent from its low of about $280 billion earlier this month. The price of Major cryptocurrency also bounced back on Monday. According to CoinDesk, bitcoin, the world's largest cryptocurrency by market cap, rose 7.46 percent to $8,673.09 during Monday's trading session. Ethereum was traded 5.82 percent higher at $863.41, with a market value of $84.25 billion. Ripple, the third largest digital currency by market cap, also rebounded from its recent sell-off, trading at $1.07. DMG Blockchain Solutions Inc. (TSX-V: DMGI), HIVE Blockchain Technologies Ltd. (OTC: HVBTF), Riot Blockchain Inc (NASDAQ: RIOT), Overstock.com Inc (NASDAQ: OSTK), Global Blockchain Technologies Corp. (OTC: BLKCF)

According to CNBC, some analysts think the cryptocurrency market could hit the trillion-dollar mark. Jamie Burke, CEO at Outlier Ventures, a venture capital firm that focuses on blockchain investments, told CNBC by email last Tuesday: "We believe after February the market will likely go on a bull run comparative if not greater than last year potentially reaching the trillion-dollar mark before a proper crypto winter sets in where the market becomes more focused on proper market fundamentals."

DMG Blockchain Solutions Inc. (TSX-V: DMGI) is currently listed on the TSX Venture Exchange under the ticker 'DMGI'. Formerly, Aim Explorations Ltd. (TSX-V: AXN.P) announced on February 9^th that, "it has closed its previously announced qualifying transaction (the "Transaction") with DMG Blockchain Solutions Inc. ("DMG Blockchain"), a full service blockchain and cryptocurrency company. Prior to the Transaction, the Company was a capital pool company (as defined under the policies of the Exchange, as defined below), and had not commenced commercial operations and had no assets other than cash. The Transaction constituted the Company's "Qualifying Transaction", as such term is defined in Policy 2.4 of the Exchange.

The Transaction consisted of the acquisition by the Company of all of the issued and outstanding common shares in the capital of DMG Blockchain by way of a three-cornered amalgamation, pursuant to which a wholly owned subsidiary of the Company amalgamated with DMG Blockchain and each DMG Blockchain shareholder received one (1) common share in the capital of the Company for each DMG Blockchain common share held for a total issuance of 46,651,995 common shares of the Company. As part of the Transaction, the Company changed its name from Aim Explorations Ltd. to "DMG Blockchain Solutions Inc." Trading in the common shares of the Company is expected to begin on the Exchange on or about February 13, 2018 under the symbol "DMGI".

Following the completion of the Transaction, DMG Blockchain is now a wholly-owned subsidiary of the Company, and the Company meets the listing requirements for a "Tier 2" technology issuer on the TSX Venture Exchange (the "Exchange"). The Company will continue the business of DMG Blockchain (described in further detail below).

The Company paid a finder's fee in the aggregate amount of 2,373,223 common shares of the Company (the "Finder's Fee") to a group of finders upon the closing of the Transaction which are subject to a four-month hold period expiring on June 9, 2018.

Effective upon the closing of the Transaction, as a result of the reverse takeover of the Company by the shareholders of DMG Blockchain and to align the financial years of the Company to that of DMG Blockchain, the financial year of the Company has been changed from March 31 of each year to September 30 of each year."

HIVE Blockchain Technologies Ltd. (OTC: HVBTF) earlier in January announced the completion of the first phase ("Sweden Phase 1") of a multi-phase build-out of a large-scale GPU-based mining complex in Sweden.  HIVE's Sweden Phase 1 operation commenced mining Ethereum on January 15, 2018 and increases the Company's energy consumption dedicated to cryptocurrency mining by over 175% to 10.6MW. "HIVE and Genesis are building the backbone infrastructure for the blockchain sector," said Marco Streng, Co-Founder and CEO of Genesis Group. "Sweden Phase 1 leverages Genesis' years of experience and knowledge gained by creating the leading cryptocurrency mining company, and is highly scalable for future growth. More than twenty Genesis personnel are dedicated to HIVE's multi-phase Sweden expansion."

Riot Blockchain Inc (NASDAQ: RIOT) on February 8^th announced that it has invested an additional CAD $3.4 million in one of its portfolio holdings, goNumerical Ltd (dba "Coinsquare"). The investment is part of a CAD $30 million financing at a CAD $430 million post-money valuation. This valuation for Coinsquare is over fifteen times the valuation from Riot Blockchain's initial investment in September 2017. Riot Blockchain additionally exercised its previously acquired warrants at a CAD $94 million valuation, and now owns approximately 12.5% of Coinsquare after the latest investment.

Overstock.com Inc (NASDAQ: OSTK) on February 2nd announced that their fintech subsidiary t0.com, Inc. ("tZERO"), to purchase a 24 percent ownership stake in StockCross Financial Services, Inc., ("StockCross"), a FINRA member firm and a U.S. DTCC member Firm. An important part of tZERO's strategy is to buy, build or partner in order to aggregate all necessary components to have end-to-end ownership of its trading, clearing and settlement platform.  The investment in StockCross adds a key partner with the custodial and clearing functionality of a U.S. DTCC member firm to tZERO's trading ecosystem. "We view our acquisition of 24 percent of StockCross, and our relationship with the Gebbia family, as another key step toward achieving our goal of being the first fully regulated security token trading platform," said Joseph Cammarata, president of tZERO. "This collaboration unlocks enormous potential and provides us with enterprise-level economies of scale for both of our companies."

Global Blockchain Technologies Corp. (OTC: BLKCF) just announced yesterday that it, "has completed its previously announced acquisition of Coinstream Mining Corp. by way of three-corner amalgamation. Under the terms of the definitive acquisition agreement, GBT will acquire 100% of Coinstream and assume all of its existing assets and underlying agreements at present, including: The Manitoba joint venture facilities totaling 50 MW of capacity, with 35 MW of capacity available immediately. GBT's subsidiary, Global Blockchain Technologies Corp., will supply cryptocurrency mining units on the basis of a 70/30 split in favour of GBT. The wholly-owned Mozambique facility totaling 25 MW of capacity, with 10 MW of capacity available immediately.  The Mozambique facility will host GBT machines and/or seek joint ventures for the rapid procurement of cryptocurrency miners. These facilities have an average power cost of USD$.03 per KwH. A 25% interest in Distributed Mining Inc. ("Distributed Mining").  Distributed Mining is a blockchain software company creating software that enables all devices to have the ability to participate in mining cryptocurrency. The software will be available to be downloaded through Distributed Mining, or through its partner sites. Connected devices will then be able to activate mining operations through their devices (including but not limited to mobile phones and gaming consoles).

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