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DMG Reports Financial Results For Its Fourth Quarter and Full Year Ending September 30, 2023

DMG Reports Financial Results For Its Fourth Quarter and Full Year Ending September 30, 2023

DMG Blockchain Solutions Reports Financial Results For Its Fourth Quarter and Full Year Ending September 30, 2023

December 21, 2023

DMG Reports Financial Results For Its Fourth Quarter and Full Year Ending September 30, 2023

DMG Blockchain Solutions announces its fourth quarter 2023 and full year ending September 30, 2023 audited financial results. All financial references are in Canadian Dollars unless specified otherwise.Recent Highlights

For full year 2023, DMG financial results were $27.9 million revenue, $16.5 million net loss (-$0.10 per share), $4.9 million positive operating cash flow
DMG mined 878 bitcoin in 2023, up 12% from the prior year
Strong balance sheet at financial year-end with $18.9 million in cash and digital currency, $82.6M of total assets
Signed agreement with Bitmain Technologies to purchase its T21 bitcoin miners for up to 1 EH/s of new hashrate with expected shipment in the March 2024 quarter

DMG’s CEO, Sheldon Bennett commented, “While our financial year 2023 was filled with challenges for DMG and the cryptocurrency industry at large, we are encouraged by recent developments with the price of bitcoin up more than 2.5x from a year ago today, new Bitcoin blockchain use cases rapidly developing with the advent of Ordinals, BRC-20 and Runes as well as the potential approvals of spot Bitcoin ETFs in the US. We believe this emerging landscape creates an extraordinary opportunity for DMG in the future.”

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The Company also announces that it will host a conference call to review fourth quarter 2023 financial results and provide a corporate update on December 21, 2023, 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 December 21, 2023.

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