Curated News
By: NewsRamp Editorial Staff
March 26, 2024
OLB Group to Spin Off Bitcoin Mining Subsidiary DMint to Shareholders
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- OLB Group plans to spin off 100% of DMint, its bitcoin mining subsidiary, to OLB Group shareholders, unlocking significant value.
- DMint, a low-energy-cost cryptocurrency mining operation, will be spun off to OLB Group shareholders at a soon-to-be-announced Shareholder of Record Date.
- OLB Group's dedication to building shareholder value through strategic spinoff of DMint demonstrates commitment to investor success.
- DMint's low power costs and deployment of up to 5,000 mining machines contribute to its enterprise value in the cryptocurrency mining industry.
Impact - Why it Matters
OLB Group's spinoff of DMint demonstrates its dedication to building shareholder value. With strategic acquisitions and a commitment to staying ahead of the technological curve, OLB Group is solidifying its position as a leader in its industry. Given its current valuation at 0.3 times sales and a pending spinoff that may be valued at almost 2X the current price, OLB is a company to watch for future corporate developments and potential appreciation.
Summary
OLB Group Inc. (NASDAQ: OLB) plans to spin off 100% of DMint, its bitcoin mining subsidiary, to OLB Group shareholders. The spinoff will give OLB shareholders one share of DMint for each share of OLB Group owned. DMint is a low-energy-cost cryptocurrency mining operation with a 15,000-square-foot facility on 4.7 acres, powered by TVA hydroelectric power. The company reports that power costs are under $0.048/Kwh. The spinoff of DMint, which reportedly has a third-party valuation of $29 million, is expected to unlock significant value for OLB Group shareholders.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, OLB Group to Spin Off Bitcoin Mining Subsidiary DMint to Shareholders
