The remaining 350 machines out of the initial 1,000 machines (already paid for) are expected to be delivered within the next 2-3 months. We anticipate having all machines delivered up and running within
Although we are not going to disclose this confidential information, our energy costs are significantly below market through CAI Blockchain.
The 1000 machines can be powered with existing resources from CAI Blockchain Energy. As we expand to more machines, we are committed to obtaining favorable energy costs and maintaining our sustainable profile.
Do you still anticipate having 24,000 crypto mining machines by end of 2023? If not, what is your revised forecast?
Yes, we expect to meet our goal of obtaining 24,000 machines by the end of 2023, subject to the challenges in the supply chain and the current machine costs.
Does the company plan to HOLD all bitcoins mined or are you open to selling some bitcoin depending upon market prices?
Currently, we are holding our Bitcoins. However, we may choose to sell some or all of our coins to use the proceeds to minimize debt financing needs for future machine acquisitions.
Can you project a likely monthly and annual revenue stream from the cryptocurrency mining operations of OLB once all 1,000 Antminer machines are fully up and running at full capacity?
Once we have 1,000 machines deployed and installed, we anticipate a revenue run rate of approximately $1mm a month of additional revenue above and beyond our current eCommerce business using a minimum Bitcoin price of $45,000.
Will you give shareholders more information on the recent Crowd Ignition acquisition and what revenue and profit opportunities it represents to OLB?
Yes, Crowd Ignition was a very important strategic acquisition for our path to move to financial and banking products by having a platform that is regulated under Reg CF and FINRA. Crowd Ignition will enable OLB Group to have the capabilities to offer smart contracts, as well offering debt finance and DeFi lending.
Cloud-Based Payment Gateway Platform Streamlines Invoicing With Direct Connection to Popular QuickBooks® Accounting Solution The OLB Group, Inc. (NASDAQ: OLB), a provider of cloud-based omnicommerce and payment acceptance solutions for small- and mid-size merchants, announced it has activated a direct connection between its SecurePay payment gateway and QuickBooks online and QuickBooks desktop accounting solutions. Through [...]
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