DMG Reports First Quarter 2025 Results and February Operations Update

DMG Blockchain Solutions announces its fiscal first quarter 2025 financial results. All financial references are in Canadian Dollars unless specified otherwise.Q1 2025 Financial Results Highlights

• Revenue: $11.6 million in Q1 2025, up 97% from $5.9 million in Q4 2024 and up 20% from $9.7 million in Q1 2024.

• Bitcoin Mined: 97 bitcoin mined in Q1 2025, up 49% from Q4 2024.

• Cash Flow from Operations: -$2.7 million in Q1 2025, versus +$1.3 million in Q4 2024, as the Company sold $4 million less bitcoin than it earned.

• Hashrate: 1.62 EH/s for Q1 2025, up 65% sequentially and 68% year-over-year; now operating at 1.8 EH/s with the goal to reach 2.1 EH/s in March 2025.

• Fleet Efficiency: 22.9 J/TH in Q1 2025, an improvement of 7% from Q4 2024; targeting 21 J/TH when hydro miners are fully energized.

• Cash and Digital Assets: $58.2 million as of quarter-end Q1 2025, up 62% from Q4 2024 and up 110% from Q1 2024.

• Net Loss: -$0.02 per share in Q1 2025, versus -$0.05 per share in Q4 2024 and $0.04 in Q1 2024.

Preliminary February Operational Results 

• Bitcoin Mined: 27 BTC (vs 31 BTC in Jan 2025, in line with 28 days and curtailment)

• Hashrate: 1.71 EH/s (vs 1.75 EH/s in Jan 2025)

• Bitcoin Holdings: 443 BTC (vs 431 BTC in Jan 2025)

• Days non-firm power curtailed: 3 (vs 0 in Jan 2025); average hashrate was 1.81 EH/s for period excluding curtailment

DMG’s CEO, Sheldon Bennett, commented: “In addition to growing our hashrate, the first part of our financial year 2025 marks a major step forward in our Core+ strategy and Generative Artificial Intelligence ambitions. With Systemic Trust now a Qualified Digital Asset Custodian, we are focused on onboarding new customers and ramping revenue. Our near-term roadmap to offer Systemic Trust custodial wallets that support DMG’s Petra technology along with the integration of both Helm Data Center Infrastructure Management and Reactor into Terra Pool, position us to fully enable our carbon neutral Bitcoin ecosystem. Furthermore, we have expanded our AI initiatives, with a memorandum of understanding for a 10 MW prefabricated data center in addition to our MOU to establish a joint venture with the Malahat Nation for 30 MW of AI compute capacity. We remain committed to growth in areas that can deliver the most long-term value for our shareholders.”

DMG Q1 2025 Financial Results and Corporate Update Call

The Company will host a conference call to review its Q1 2025 financial results and provide a corporate update on Tuesday, March 4, 2025 at 4:30 PM ET. Participants should register for the call via the registration link.

In addition to a live Q&A session via chat, management will also address pre-submitted questions. Those wishing to submit a question may do so via email at [email protected], using the subject line 'Conference Call Question Submission,' through 2:00 PM ET on March 4, 2025.

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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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