DMG Announces Preliminary December Mining Results and Year in Review

DMG Blockchain Solutions announces its preliminary Bitcoin mining operational results for December 2024:

Operational Highlights:

• Bitcoin Mined: 32 BTC

• Hashrate: 1.68 EH/s 

• Bitcoin Holdings: 406 BTC

For the December 2024 quarter, DMG mined 97 bitcoin with an average hashrate of 1.62 EH/s and a fleet efficiency of 23 J/TH.

DMG’s CEO, Sheldon Bennett commented, “December capped a significantly stronger quarter versus the prior quarter, as DMG mined approximately 50% more bitcoin at a greater fleet efficiency. We are now focused on expanding our hashrate to 2.1 EH/s in the current quarter based on utilizing leading edge hydro direct liquid cooling (DLC) technology. We expect to energize our first hydro container in the current month and the remaining five containers in the current quarter.”

Key Accomplishments Over the Past Year and Coming Year Goals

• Bitcoin Mining - grew hashrate more than 70% from less than 1 EH/s in Jan-Sep 2024 and exited calendar 2024 with 1.72 EH/s with a fleet efficiency of 23 J/TH

• Generative Artificial Intelligence (Gen AI) - executed memo of understanding (MOU) with the Malahat Nation to build 30 megawatts of Gen AI compute capacity

• Systemic Trust - executed software platform and achieved regulatory milestones towards becoming a qualified custodian in early calendar 2025

• Terra Pool - rebuilt software to utilize the same enterprise-grade best practices as for Systemic Trust to ensure the best possible client experience and enable our carbon neutral Bitcoin ecosystem

• Reactor software platform acquired - purchased from Navier in October 2024 for assuring the delivery of hashrate over the term of a hashrate contract

• Helm - rebuilding the software to be a Bitcoin Data Center Infrastructure Management (DCIM) tool, with a focus on supporting next generation fleets, optimizing operation and working with demand response programs

Our Vision for the Coming Year

This past year has been transformational for DMG, as we executed the enabling software for the two key elements of our carbon neutral Bitcoin ecosystem - Systemic Trust and Terra Pool. Accordingly, we are very encouraged that calendar 2025 becomes the breakout year for our Core+ strategy. We expect Gen AI to become a major driver of our Core strategy over the next several years. We will be devoting significant resources and capital to realize our opportunity with the Malahat Nation while simultaneously looking to make this a pan-Canadian effort among multiple indigenous bands. 

Bitcoin mining will remain foundational to our Core strategy. Bitcoin mining is less than one-tenth the capital intensity of Gen AI, can be deployed in one-third the time and has a payback period that is typically one-half to one-third the time; we are agnostic between the two technology types as to how we maximize returns, and we see a role for both technologies to be utilized, even at the same data center site.

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DMG

DMG’s mission is to lead the digital asset industry by meeting the most stringent compliance requirements while focused on environmental requirements.

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Blockseer/Core+

Blockseer blockchain software products help enable crypto adoption and growth.

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Systemic Trust

Systemic Trust, a custody solution for digital assets, ensures security with advanced technology, risk management, and transparency.

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Terra Pool

Terra Pool, enabled by Blockseer software, is the world's first Bitcoin mining pool focused on carbon neutral energy and clean block mining.

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