OLB Group forms DMint, Inc. a cryptocurrency mining company
NEW YORK–(COMMERCIAL THREAD) –The OLB Group, Inc. (NASDAQ: OLB), a provider of cloud-based omnicommerce and payment acceptance solutions for small and medium-sized merchants, announced the formation of DMint, Inc, a wholly owned subsidiary of OLB ( “DMint”) which will begin cryptocurrency mining in 2021. The operating plan for DMint to build data centers and use ASIC machines to mine cryptocurrency with underutilized energy in accordance with ESG standards.
OLB CEO Ronny Yakov said, “DMint will strategically enter the cryptocurrency mining industry, using a profitable and green business model, which will significantly increase OLB’s revenue. This new source of income 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, the OLB group will be able to provide additional services to its existing merchant base.
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Safe Harbor Declaration
All statements of The OLB Group, Inc. contained in this press 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, without limitation, statements regarding the impact of COVID-19 on our operations and financial condition, our ability to implement our proprietary onboarding and CRM system for merchants and to deploy 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 generate income from new operations. Although the management of the Company has based all forward-looking statements contained in this document on its current expectations, the information on which those expectations were based may change. These forward-looking statements are based on a number of assumptions about future events and are subject to a number of risks, uncertainties and other factors, many of which are beyond our control, which could cause the results actual differ significantly from these statements. These risks, uncertainties and other factors include statements regarding the income and expected trading income to be generated by The OLB Group, Inc. For other factors that could cause our actual results to differ from those expected, see the information under caption “Risk Factors” in the Company’s most recent Forms 10-K and 10-Q, and their amendments, as well as in other public documents filed with the SEC since that date. The Company operates in a competitive and rapidly changing environment, and new risks may arise. Therefore, investors should not rely on forward-looking statements as a prediction of actual results. The Company disclaims all intentions and assumes no obligation to update or revise any forward-looking statement.
About OLB Group, Inc.
The OLB Group, Inc. is a payment facilitator and business services provider that provides cloud-based merchant services for web and physical 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, reporting on sales and fundraising. With private label shopping site services designed to maintain the unique look or feel of the merchant’s website, for order fulfillment and customer service, OLB remains invisible to the user and promotes the brand of the merchant. trader with advanced technologies and solutions. For more information on solutions, services or to find a reseller, please visit www.olb.com. Information for investors is available at www.olb.com/investors-data.