DMG Blockchain Solutions (DMGI) Stock Resumes Rally: Will It Hit $5 CAD?

The continued rally in cryptocurrencies over the course of the past months has also resulted in considerable interest among investors in listed companies that work in that industry.

One such company is DMG Blockchain Solutions Inc (CVE: DMGI), which has seen its stock soar by as cosmic as 500% since November 2020. The rally in the stock continued yesterday as it surged by 24% on the back of an announcement from the company on Monday.

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DMG Blockchain announced that it completed the purchase of a total of 3600 Bitcoin ASIC miners. The addition of this equipment is going to add additional 360 PH/s and that is going to take the total hash rate at the company’s disposal to 500 PH/s. Considering the fact that Bitcoin mining has become a highly lucrative business in recent times, this development seems to have resulted in fresh optimism among investors. It might be a good idea to keep the DMG Blockchain stock in the watch lists at this point.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.