OLB Group Unlocks Value with Planned Spinoff of DMint Bitcoin Mining Subsidiary

OLB Group Inc. (NASDAQ: OLB), a leading payment processing company, is preparing a strategic move to spin off its bitcoin mining subsidiary, DMint, to OLB shareholders. The spinoff will grant one share of DMint for each share of OLB Group owned on the soon-to-be-announced Shareholder of Record Date.

DMint, based in Selmer, TN, is a low-energy-cost cryptocurrency mining operation with a 15,000-square-foot facility powered by TVA hydroelectric power. The company reports power costs under $0.048/Kwh, a crucial advantage as DMint currently operates 276 energy-efficient S19J Asics miners, with a capacity for up to 5,000 miners utilizing 20 Megawatts (MW) of power.

According to OLB Group, DMint has a third-party valuation of $29 million, suggesting the spinoff could unlock significant value for OLB shareholders. A Confidential S1 filing has been submitted, and preliminary SEC comments have been addressed, with a separate subsidiary audit completed in preparation for the spinoff and resulting DMint stock dividend.

In addition to the DMint spinoff, OLB Group has recently acquired Black Wireless and Mango Mobile, promising initiatives to provide new revenue streams in the under-banked sector. These acquisitions enable OLB Group to leverage the serial digital interface (SDI) network and offer a unified Point of Sales (POS) system for seamless product purchases and mobile phone minute reloads.

Despite generating around $30 million in annual revenue from its payments business, OLB Group currently has a market cap of only about $13.2 million (as of March 7, 2024), valuing the company at 0.3 times sales. With the pending DMint spinoff potentially valued at almost 2X the current price, OLB Group is positioning itself as a company to watch for future corporate developments and potential appreciation.

Blockchain Registration, Verification & Enhancement provided by NewsRamp™

This news story relied on a press release distributed by News Direct. Blockchain Registration, Verification & Enhancement provided by NewsRamp™. The source URL for this press release is OLB Group Unlocks Value with Planned Spinoff of DMint Bitcoin Mining Subsidiary.