OLB Group Forms DMint, Inc. a Cryptocurrency Mining Company
03 August 2021 - 11:45PM
Business Wire
New subsidiary will begin to mine Cryptocurrency in Q4
2021
The OLB Group, Inc. (NASDAQ: OLB), a provider of cloud-based
omnicommerce and payment acceptance solutions for small- and
mid-sized merchants, announced the formation of DMint, Inc, a
wholly-owned subsidiary of OLB (“DMint”) that will commence mining
cryptocurrency in 2021. The operations plan for DMint to build out
data centers and utilize ASIC machines to mine cryptocurrency with
underutilized energy in accordance with ESG standards.
OLB’s Chief Executive Officer Ronny Yakov stated, “DMint will
strategically enter the cryptocurrency mining business, using a
cost efficient and green business model, which will significantly
enhance OLB revenues. This new revenue source will also fuel new
services and opportunities for our small- and medium-sized
merchants.”
OLB Group believes that cryptocurrency will have a major impact
in the payment industry and wants to be at the center of it. By
starting our cryptocurrency mining subsidiary, OLB Group will be
able to provide additional services to its existing merchant
base.
For more information about The OLB Group, please visit
www.olb.com or www.olb.com/investors-data.
Future OLB Press Releases and Updates
Interested investors or shareholders can be notified of future
Press Releases and Industry Updates by e-mailing
investorrelations@OLB.com.
Safe Harbor Statement
All statements from The OLB Group, Inc. in this news release
that are not based on historical fact are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 and the provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements include, but are not limited to, statements concerning
the impact of COVID-19 on our operations and financial condition,
our ability to implement our proprietary merchant boarding and CRM
system and to roll out our Omni Commerce and SecurePay
applications, including payment methods, to our current merchants
and the integration of our secure payment gateway with our
crowdfunding platform, our ability to successfully launch a
cryptocurrency mining operation and our ability to earn revenue
from the new operations . While the Company’s management has based
any forward-looking statements contained herein on its current
expectations, the information on which such expectations were based
may change. These forward-looking statements rely on a number of
assumptions concerning future events and are subject to a number of
risks, uncertainties, and other factors, many of which are outside
of our control, that could cause actual results to materially
differ from such statements. Such risks, uncertainties, and other
factors include statements regarding the expected revenue and
income for operations to be generated by The OLB Group, Inc. For
other factors that may cause our actual results to differ from
those that are expected, see the information under the caption
“Risk Factors” in the Company’s most recent Form 10-K and 10-Q
filings, and amendments thereto, as well as other public filings
with the SEC since such date. The Company operates in a rapidly
changing and competitive environment, and new risks may arise.
Accordingly, investors should not place any reliance on
forward-looking statements as a prediction of actual results. The
Company disclaims any intention to, and undertakes no obligation
to, update or revise any forward-looking statement.
About The OLB Group, Inc.
The OLB Group, Inc. is a payment facilitator and commerce
service provider that delivers cloud-based merchant services for
web-based and brick-and-mortar organizations. OLB provides a
seamless, end-to-end digital commerce solution that includes site
creation, hosting, transaction processing and payment gateway,
order fulfillment, customer service, outbound marketing, sales
reporting, and fundraising. With services from private label
shopping sites designed to maintain the unique look or feel of the
merchant website, to order fulfillment and customer service, OLB
remains invisible to the user and promotes the merchant’s brand
with market-leading technology and solutions. For more information
about solutions, services, or to find a reseller, please visit
www.olb.com. Investor information is available at
www.olb.com/investors-data.
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version on businesswire.com: https://www.businesswire.com/news/home/20210803005669/en/
Rick Lutz The OLB Group - Investor Relations
InvestorRelations@olb.com (212) 278-0900 EXT: 333
Glenn Goldberg – Media Relations Parallel Communications, Inc.
ggoldberg@parallelpr.com (516) 705-6116
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