OLB Group Announces Launch of 5 Bitcoin Data Centers with 500 Additional Asic Antminer S19j Pro Cryptocurrency Miners | National company

NEW YORK – (BUSINESS WIRE) – October 26, 2021–

The OLB Group, Inc. (NASDAQ: OLB), a diversified e-commerce merchant services provider and Bitcoin mining company, today announced that DMint, Inc., a wholly owned subsidiary of OLB (“DMint”), has expanded its Bitcoin mining operations with the addition of five hundred (500) Antminer S19j Pro cryptocurrency mining computers. DMint plans to have a total of 1,000 computers up and running at its newly completed Bradford, Pa. Site by the end of 2021 and plans to reach 24,000 Bitcoin mining computers – in various locations – over the next 24,000. next months.

As the United States overtakes China as the top destination for Bitcoin mining, the OLB Group is at the forefront of institutional adoption of cryptocurrency as one of the earliest e-commerce merchants to host Bitcoin mining data centers. By applying innovative processes to its unique expertise in merchant services, OLB’s entry into the mining industry heralds the next wave of mining operations in North America.

“The addition of 500 state-of-the-art Antminer S19j Pro computers is a major step towards scaling up our Bitcoin mining operation,” said Ronny Yakov, CEO of the OLB Group. “The positive price development since the start of our mining operations makes us even more optimistic about the long-term viability of our operations. We remain fully committed to expanding our operations to 24,000 computers by the end of 2023. ”

Yakov continued, “Because we are a diverse company with a strong core e-commerce business, we have a stable revenue base as our base as we scale up our Bitcoin mining operations. “

Once at full capacity – assuming the current market price and the size of the mining network – DMint expects to mine 18.6 Bitcoins per month, generating $ 97,500 in monthly revenue.

OLB provides omnicommerce services to merchants, including cutting-edge crypto trading capabilities, e-commerce, back-office and kitchen operations, and acceptance of payments online, in-store and on mobile devices. Merchants using OLB’s OmniSoft Business Management platform can transact with customers through digital wallets, cryptocurrency wallets, and traditional card payments. OLB plans to leverage DMint’s mining operations to power extensive crypto trading services, including financing, lending, and fundraising for small and medium businesses.

Merchants interested in implementing crypto-commerce or omnicommerce services can create an OmniSoft account on https://cardaccept.com/#contact. For more information on the OLB Group, please visit www.olb.com Where www.olb.com/investors-data.

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Interested investors or shareholders can be notified of future press releases and industry updates by sending an email to [email protected]

About DMint

DMint is a wholly owned subsidiary of the OLB Group engaged in Bitcoin mining. As a vertically integrated mining company, DMint uses proprietary energy reserves to power the latest Antminer S19j Pro mining computers, allowing them to mine Bitcoin and other cryptocurrencies at a lower cost than their competitors. DMint plans to increase mining capacity to 24,000 mining computers over the next 24 months to expand capacity to 2.4 exahash per second.

About OLB Group, Inc.

The OLB Group, Inc. (NASDAQ: OLB) is a Diverse Fintech Ecommerce Merchant Services Provider and Bitcoin Cryptocurrency Mining Company. The company’s e-commerce platform provides cloud-based merchant services to web and physical businesses for a seamless and comprehensive digital commerce solution that includes site creation, web hosting, customer service, marketing outbound, sales reports, transaction processing, order fulfillment and payment facilitator offering crypto payment options. OLBit.com, a wholly owned subsidiary of the OLB Group, has applied for a license to start trading and accepting cryptocurrency for traders. 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.

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, but are not limited to, 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 any intention and assumes no obligation to update or revise any forward-looking statement.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211026005348/en/

CONTACT: The OLB Group – Investor Relations

Rick lutz

Investor [email protected]

(212) 278-0900 EXT: 333

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: FINANCE BANKING SMALL ENTERPRISES PROFESSIONAL SERVICES TECHNOLOGY ONLINE RETAIL TRADE OTHER TECHNOLOGY

SOURCE: The OLB Group, Inc.

Copyright Business Wire 2021.

PUB: 10/26/2021 8:30 a.m. / DISC: 10/26/2021 8:31 a.m.

http://www.businesswire.com/news/home/20211026005348/en

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