DMG Reports First Quarter 2024 Results Ending December 31, 2023

DMG Blockchain Solutions announces its fiscal first quarter 2024 financial results. All financial references are in Canadian Dollars unless specified otherwise.Q1 2024 Financial Results Highlights

• Q1 2024 results of $9.7 million revenue, $1.5 million operating loss before other items, $7.0 million net income and $0.04 per share

• 196 bitcoin mined, up 35% from the prior quarter on 0.96 EH/s, up 45% from the prior quarter

• $3.7 million cash flow from operations, up 163% from the prior quarter

• Signed agreement with Bitmain Technologies in December to purchase 4,550 T21 190 TH/s bitcoin miners, which is expected to approximately double hashrate to about 2 EH/s

• Strong balance sheet as of December 31, 2023 with $27.7 million in cash and digital currency, $91.0 million in total assets

Sheldon Bennett, DMG Blockchain Solutions’ Chief Executive Officer, commented, “DMG Q1 2024 results benefitted from the confluence of our 45% higher hashrate and a 30% increase in the quarterly average price of bitcoin versus the prior quarter. With the purchase of 4,550 new 190 TH/s T21 miners and the infrastructure needed to energize those miners, we are positioned to approximately double our electrical infrastructure and hashrate. Regarding our Core+ Blockseer software strategy, we continue to invest in both Bitcoin network software infrastructure and applications, and we remain encouraged regarding the opportunity to monetize bitcoin transactions.”

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DMG Q1 2024 Financial Results and Corporate Update CallThe Company also announces that it will host a conference call to review first quarter 2024 financial results and provide a corporate update on February 22, 2024, at 4:30 pm ET. Participants are asked to pre-register for the call through this link. Registered participants will receive a Financial Results and Corporate Update Call weblink and dial-in information in their confirmation email.As there will be no live Q&A session, management will address pre-submitted questions during the call. Those wishing to submit a question may do so via [email protected] using the subject line ‘Conference Call Question Submission’ through 2:00 pm ET on February 22, 2024.

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About DMG

DMG’s mission is to lead the crypto industry monetizing bitcoin transactions that meet the most stringent compliance and ESG requirements.

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Blockseer/Core+

Blockseer blockchain software products help enable crypto adoption and growth.

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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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