Latest news with #SheldonBennett
Business Upturn
6 days ago
- Business
- Business Upturn
DMG Blockchain Solutions Inc. Announces Enablement of Carbon Neutral Bitcoin Transactions via Systemic Trust Company
By GlobeNewswire Published on May 28, 2025, 02:10 IST VANCOUVER, British Columbia, May 27, 2025 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) ('DMG' or the 'Company'), a vertically integrated data center and digital asset technology company, announces that DMG's digital asset custody subsidiary, Systemic Trust Company ('STC') has added the capability to send bitcoin in a regulatory compliant and carbon neutral manner. This enablement is the keystone that bridges the key pillars of DMG's carbon-neutral Bitcoin ecosystem – STC, whose platform is built on Fireblocks' custody solution, and Terra Pool, the world's first carbon neutral Bitcoin mining pool. By utilizing Fireblocks, a proven and trusted solution for wallet infrastructure, users can be assured of the security and integrity of their digital asset holdings when they are stored and subsequently sent. In turn, DMG's Petra technology empowers bitcoin transactions from STC's Petra-enabled wallets to be sent via Terra Pool, which removes the risk of commingling with nefarious actors and utilizes energy from carbon neutral energy sources, a highly sought after capability increasingly demanded by financial institutions globally. DMG's CEO, Sheldon Bennett, commented: 'Integrating Petra technology with Fireblocks' custody solution achieves a key milestone for enabling DMG's carbon neutral Bitcoin ecosystem, as it allows not only Systemic Trust being able to send bitcoin in a regulatory-compliant and carbon neutral manner but also the much larger ecosystem of Fireblocks' 2000+ customers. Our goal remains to provide financial institutions, government and enterprises choice as to how they transact bitcoin, and this is a key advancement that can broadly give them that choice, all the while advancing our burgeoning collaboration with Fireblocks.' About Terra Pool Terra Pool is the world's first carbon neutral Bitcoin mining pool, designed to reward miners with carbon neutral bitcoin. It plays a crucial role in advancing a carbon neutral Bitcoin ecosystem. When integrated with DMG's subsidiary, Systemic Trust, a digital asset custodian, financial institutions and content creators gain the ability to send bitcoin in a regulatory-compliant and carbon neutral manner. About Systemic Trust Company Systemic Trust Company is a qualified custodian fully regulated under the Alberta Loans and Trust Corporations Act, ensuring client digital assets are managed with the highest standards of compliance and security. Systemic Trust combines regulatory compliance, cutting-edge technology and robust insurance coverage to deliver the ultimate digital asset custody experience. About DMG Blockchain Solutions Inc. DMG is a publicly traded and vertically integrated blockchain and data center technology company that manages, operates and develops end-to-end digital solutions to monetize the digital asset and artificial intelligence compute ecosystems. Systemic Trust Company, a wholly owned subsidiary of DMG, is an integral component of DMG's carbon neutral Bitcoin ecosystem, which offers financial institutions the choice to send bitcoin in a regulatory-compliant and sustainable manner. For additional information about DMG Blockchain Solutions and its initiatives, please visit Follow @dmgblockchain on X, LinkedIn and Facebook, and subscribe to the DMG YouTube channel to stay updated with the latest developments and insights. For further information, please contact: On behalf of the Board of Directors, Sheldon Bennett, CEO & DirectorTel: +1 (778) 300-5406 Email: [email protected] Web: For Investor Relations: [email protected] For Media Inquiries:Chantelle BorrelliHead of Communications [email protected] Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Cautionary Note Regarding Forward-Looking Information This news release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this news release include statements regarding DMG's strategies and plans, the potential and expectations of STC and Terra Pool, the opportunity and plans to monetize bitcoin transactions and provide additional products and services to customers and users, the continued investment in Bitcoin network software infrastructure and applications, the expected allocation of capital, developing and executing on the Company's products and services, the launch of products and services, events, courses of action, and the potential of the Company's technology and operations, among others, are all forward-looking information. Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hashrate may materially affect the future performance of DMG's production of bitcoin, and future operating results could also be materially affected by the price of bitcoin and an increase in hashrate mining difficulty. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as 'may', 'expect', 'estimate', 'anticipate', 'intend', 'believe' and 'continue' or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, market and other conditions, volatility in the trading price of the common shares of the Company, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company's financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoin; the demand and pricing of Gen AI data centers and usage; security threats, including a loss/theft of DMG's bitcoin; DMG's relationships with its customers, distributors and business partners; the inability to add more power to DMG's facilities; DMG's ability to successfully define, design and release new products in a timely manner that meet customers' needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements. The securities of DMG are considered highly speculative due to the nature of DMG's business. For further information concerning these and other risks and uncertainties, refer to the Company's filings on In addition, DMG's past financial performance may not be a reliable indicator of future performance. Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of viruses and diseases on the Company's ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoin from DMG or its customers, consumer sentiment towards DMG's products, services and blockchain and Gen AI technology generally, failure to develop new and innovative products, litigation, adverse weather or climate events, increase in operating costs (which includes energy costs), increase in equipment and labor costs, equipment failures, decrease in the price of Bitcoin, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of or statements made by third parties in respect of the matters discussed above. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
26-05-2025
- Business
- Yahoo
DMG Blockchain Solutions Inc (DMGGF) Q2 2025 Earnings Call Highlights: Strategic AI Expansion ...
Release Date: May 22, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. DMG Blockchain Solutions Inc (DMGGF) is expanding into AI with a focus on partnerships and client acquisition, particularly with public sector entities in Canada. The company has developed a comprehensive product suite, including Helm, Reactor, and Explorer, to support its carbon-neutral Bitcoin ecosystem. DMG Blockchain Solutions Inc (DMGGF) achieved a hash rate goal of 2.1 exahash and plans to grow to 3 exahash by the end of the calendar year without dilutive financing. The company is actively working on securing long-term government contracts for AI infrastructure, which could provide significant revenue streams. DMG Blockchain Solutions Inc (DMGGF) has a strong cash position with $62 million in cash, short-term investments, and digital currencies at the end of the quarter. The company experienced a decrease in its cash, short-term investments, and Bitcoin balance by 3% sequentially. Operating and maintenance costs increased by 14% due to higher seasonal energy rates and increased hash rate. DMG Blockchain Solutions Inc (DMGGF) reported a net loss of $0.02 per share in the March quarter. The company is facing challenges in securing AI agreements due to the lengthy government procurement process. There is uncertainty regarding the company's ability to secure non-dilutive financing for its planned expansion to 3 exahash. Warning! GuruFocus has detected 4 Warning Signs with DMGGF. Q: How long is it going to take to secure AI agreements, especially with government bureaucracy involved? A: Sheldon Bennett, CEO: It can take a long time with government, but we remain optimistic about securing agreements in the coming months. The Canadian government has a sense of urgency to achieve AI self-sufficiency, and we are actively working through the process with various agencies. We aim for long-term agreements that command a premium, rather than short-term ones that may not cover high capital costs. Q: Why didn't you use debt financing to fund AI equipment purchases? A: Sheldon Bennett, CEO: Debt instruments require a revenue source to back them. The 2 megawatts of AI infrastructure we purchased do not generate immediate cash flow, so it wasn't feasible to secure financing. We used our own funds to jumpstart our AI initiatives. Q: How does DMG compare to other mining stocks like Hive and Marra, and what strategies could lead to all-time highs? A: Steven Elescu, COO: On an EV to hash rate basis, we've been valued less than larger peers, but we are focused on translating our investments in software, services, and AI into meaningful results. This could be a catalyst for stock growth. We continue to generate cash from Bitcoin mining, which supports our short-term needs. Q: What is the strategic rationale for buying the prefabricated data center? A: Steven Elescu, COO: Owning physical infrastructure enhances our credibility in discussions about deploying sovereign AI in Canada. The prefabricated data center serves as a bridge to larger, next-generation data centers and helps us secure initial agreements that can lead to larger offtake agreements. Q: Why are you more optimistic about long-term Bitcoin mining at the Christina Lake facility? A: Sheldon Bennett, CEO: We are optimistic due to lower overall costs with non-firm power and the potential to retrofit air-cooled infrastructure to hydro-cooled, which is cost-effective. We continue to look for other sites with low-cost energy, but Christina Lake offers competitive advantages. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
26-05-2025
- Business
- Yahoo
DMG Blockchain Solutions Inc (DMGGF) Q2 2025 Earnings Call Highlights: Strategic AI Expansion ...
Release Date: May 22, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. DMG Blockchain Solutions Inc (DMGGF) is expanding into AI with a focus on partnerships and client acquisition, particularly with public sector entities in Canada. The company has developed a comprehensive product suite, including Helm, Reactor, and Explorer, to support its carbon-neutral Bitcoin ecosystem. DMG Blockchain Solutions Inc (DMGGF) achieved a hash rate goal of 2.1 exahash and plans to grow to 3 exahash by the end of the calendar year without dilutive financing. The company is actively working on securing long-term government contracts for AI infrastructure, which could provide significant revenue streams. DMG Blockchain Solutions Inc (DMGGF) has a strong cash position with $62 million in cash, short-term investments, and digital currencies at the end of the quarter. The company experienced a decrease in its cash, short-term investments, and Bitcoin balance by 3% sequentially. Operating and maintenance costs increased by 14% due to higher seasonal energy rates and increased hash rate. DMG Blockchain Solutions Inc (DMGGF) reported a net loss of $0.02 per share in the March quarter. The company is facing challenges in securing AI agreements due to the lengthy government procurement process. There is uncertainty regarding the company's ability to secure non-dilutive financing for its planned expansion to 3 exahash. Warning! GuruFocus has detected 4 Warning Signs with DMGGF. Q: How long is it going to take to secure AI agreements, especially with government bureaucracy involved? A: Sheldon Bennett, CEO: It can take a long time with government, but we remain optimistic about securing agreements in the coming months. The Canadian government has a sense of urgency to achieve AI self-sufficiency, and we are actively working through the process with various agencies. We aim for long-term agreements that command a premium, rather than short-term ones that may not cover high capital costs. Q: Why didn't you use debt financing to fund AI equipment purchases? A: Sheldon Bennett, CEO: Debt instruments require a revenue source to back them. The 2 megawatts of AI infrastructure we purchased do not generate immediate cash flow, so it wasn't feasible to secure financing. We used our own funds to jumpstart our AI initiatives. Q: How does DMG compare to other mining stocks like Hive and Marra, and what strategies could lead to all-time highs? A: Steven Elescu, COO: On an EV to hash rate basis, we've been valued less than larger peers, but we are focused on translating our investments in software, services, and AI into meaningful results. This could be a catalyst for stock growth. We continue to generate cash from Bitcoin mining, which supports our short-term needs. Q: What is the strategic rationale for buying the prefabricated data center? A: Steven Elescu, COO: Owning physical infrastructure enhances our credibility in discussions about deploying sovereign AI in Canada. The prefabricated data center serves as a bridge to larger, next-generation data centers and helps us secure initial agreements that can lead to larger offtake agreements. Q: Why are you more optimistic about long-term Bitcoin mining at the Christina Lake facility? A: Sheldon Bennett, CEO: We are optimistic due to lower overall costs with non-firm power and the potential to retrofit air-cooled infrastructure to hydro-cooled, which is cost-effective. We continue to look for other sites with low-cost energy, but Christina Lake offers competitive advantages. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Hamilton Spectator
22-05-2025
- Business
- Hamilton Spectator
DMG Blockchain Solutions Reports Second Quarter 2025 Results
VANCOUVER, British Columbia, May 21, 2025 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB: DMGGF) (FRANKFURT: 6AX) ('DMG' or the 'Company'), a vertically integrated blockchain and data center technology company, today announces its fiscal second quarter 2025 financial results. All financial references are in Canadian Dollars unless specified otherwise. Readers are encouraged to review the Company's March 31, 2025 quarterly unaudited financial statements and management's discussion and analysis thereof for an assessment of the Company's performance and applicable risk factors, available at . Q2 2025 Financial Results Highlights DMG's CEO, Sheldon Bennett, commented: 'In Q2, we continued to increase our Bitcoin mining hashrate, as we deployed our hydro direct-liquid-cooled miners. In addition, we advanced our AI strategy with the purchase of 2 megawatts of prefabbed data center infrastructure and have been making progress with respect to engaging Canadian public sector entities and private enterprises for off-take agreements, which we believe will be instrumental in aiding DMG in pursuing non-dilutive financing opportunities. Finally, the Systemic Trust, our digital asset custody platform, is currently focused on building on its platform development execution to gain customer adoption, ramp revenue and broaden its platform capabilities throughout calendar 2025.' Financial Second Quarter 2025 Financial Results Review Revenue increased by $1,011,749 to $12,644,574 for the three months ended March 31, 2025 compared to the prior quarter. During the three months ended March 31, 2025, the Company received in its wallets from mining activity 91.27 bitcoin and ended the period with a balance of 458.07 bitcoin. Operating and maintenance expenses for the three months ended March 31, 2025 were $7,625,097, up from $5,270,851 in the prior year period. This increase is primarily due to a $1,796,739 rise in utilities expenses, driven by expanded digital currency mining operations with additional operating miners and fluctuating energy prices. Furthermore, new hosting fees paid to third parties, totaling $682,756, also contributed to this increase. Research costs for the three months ended March 31, 2025 increased by $122,232 compared to the prior year period. Research in fiscal 2025 continues to focus on software and relates to work on Systemic Trust, Helm, Reactor and Blockseer Explorer. General and administrative costs for the three months ended March 31, 2025 were $1,936,402 in comparison to $1,846,398 in the prior year period. General and administrative costs consist mostly of wages, professional fees, consulting fees and financing costs. The overall increase of $90,004 is attributable mainly to financing costs related to the Company's credit facility with Sygnum Bank. Depreciation for the three months ended March 31, 2025 was $4,314,108 compared to $3,805,988 in the prior year period. Net income decreased by $3,348,566 to a net loss of $3,346,351 for the three months ended March 31, 2025 from the prior year period. Total assets as of March 31, 2025 were $129,506,488, an increase of $25,637,507 from the end of the prior year end. The increase is mainly attributable to the Company's purchase of $7,116.500 short-term investments and a net increase in digital currency of $19,695,408 due to the increased price of bitcoin. Second Quarter 2025 Results Conference Call Details The Company will host a conference call to review its results and provide a corporate update on May 22, 2025 at 4:30 PM ET. Participants should register for the call via the 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 investors@ , using the subject line 'Conference Call Question Submission,' through 2:00 PM ET on May 22, 2025. About DMG Blockchain Solutions Inc. DMG is a publicly traded and vertically integrated blockchain and data center technology company that manages, operates and develops end-to-end digital solutions to monetize the digital asset and artificial intelligence compute ecosystems. Systemic Trust Company, a wholly owned subsidiary of DMG, is an integral component of DMG's carbon-neutral Bitcoin ecosystem, which enables financial institutions to move bitcoin in a sustainable and regulatory-compliant manner. For more information on DMG Blockchain Solutions visit: Follow @dmgblockchain on X and subscribe to DMG's YouTube channel. For further information, please contact: On behalf of the Board of Directors, Sheldon Bennett, CEO & Director Tel: +1 (778) 300-5406 Email: investors@ Web: For Investor Relations: investors@ For Media Inquiries: Chantelle Borrelli Head of Communications chantelle@ The disclosed notes are integral to these condensed consolidated financial statements The disclosed notes are integral to these condensed consolidated interim financial statements The disclosed notes are integral to these condensed consolidated interim financial statements Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Cautionary Note Regarding Forward-Looking Information This news release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this news release include statements regarding the planned conference call, DMG's strategies and plans, increasing hashrate and the anticipated timelines, the expected arrival and operation of the hydro miners and containers, the development of Systemic Trust including generating revenues, the potential for a 2-megawatt prefabricated data center, improving fleet efficiency and continuing to execute on Core+ software initiatives and plans to monetize bitcoin transactions, the continued investment in Bitcoin network software infrastructure and applications, developing and executing on the Company's products and services, increasing self-mining, efforts to improve the operation of its mining fleet, the launch of products and services, events, courses of action, and the potential of the Company's technology and operations, among others, are all forward-looking information. Future changes in the Bitcoin network-wide mining difficulty or Bitcoin hashrate may materially affect the future performance of DMG's production of bitcoin, and future operating results could also be materially affected by the price of bitcoin and an increase in hashrate and mining difficulty. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as 'may', 'expect', 'estimate', 'anticipate', 'intend', 'believe' and 'continue' or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, market and other conditions, volatility in the trading price of the common shares of the Company, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company's financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoin; security threats, including a loss/theft of DMG's bitcoin; DMG's relationships with its customers, distributors and business partners; the inability to add more power to DMG's facilities; DMG's ability to successfully define, design and release new products in a timely manner that meet customers' needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements. The securities of DMG are considered highly speculative due to the nature of DMG's business. For further information concerning these and other risks and uncertainties, refer to the Company's filings on . In addition, DMG's past financial performance may not be a reliable indicator of future performance. Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of viruses and diseases on the Company's ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoin from DMG or its customers, consumer sentiment towards DMG's products, services and blockchain technology generally, failure to develop new and innovative products, litigation, adverse weather or climate events, increase in operating costs (which includes energy costs), increase in equipment and labor costs, equipment failures, decrease in the price of Bitcoin, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of or statements made by third parties in respect of the matters discussed above.
Associated Press
06-05-2025
- Business
- Associated Press
DMG Blockchain Solutions Announces Preliminary April Operational Results
VANCOUVER, British Columbia, May 05, 2025 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB: DMGGF) (FRANKFURT: 6AX) ('DMG' or the 'Company'), a vertically integrated blockchain and data center technology company, today announces its preliminary operational results for April 2025: DMG's April results reflect stable mining operations alongside key strategic investments. The Company mined 30 BTC during the month, slightly down from 32 BTC in March due to increased network difficulty and one day shorter duration. Meanwhile, DMG increased its realized hashrate to 1.93 EH/s, supported by the deployment of additional Bitmain S21+ Hydro miners and has now reached its 2.1 EH/s target, which may be slightly trimmed on an ongoing operational basis, at least through the summer months, to best manage its fleet in a higher ambient temperature environment. DMG liquidated a portion of its Bitcoin holdings, reducing its treasury from 458 BTC in March to 351 BTC in April. Proceeds were used mainly to fund the acquisition of 2 megawatts capacity of prefabricated artificial intelligence (AI) data center infrastructure as well to make the first material paydown on its Sygnum Bank loan, which had a $20 million balance at the end of March. These actions mark a significant step in executing DMG's broader strategy to shift its data center capacity towards AI, while delevering its balance sheet. Sheldon Bennett, DMG's CEO, commented, 'We remain focused on advancing our AI strategy while maintaining a cash generating Bitcoin operation. With the purchase of 2 megawatts of AI data center infrastructure, we have made a demonstrative shift to utilize the returns generated from Bitcoin mining to fund our initial AI capital expenditures, which we believe will accelerate our ability to secure off-take agreements. Our focus remains on high-value government and enterprise users seeking sovereign AI solutions for Canada.' About DMG Blockchain Solutions Inc. DMG is a publicly traded and vertically integrated blockchain and data center technology company that manages, operates and develops end-to-end digital solutions to monetize the digital asset and artificial intelligence compute ecosystems. Systemic Trust Company, a wholly owned subsidiary of DMG, is an integral component of DMG's carbon-neutral Bitcoin ecosystem, which enables financial institutions to move Bitcoin in a sustainable and regulatory-compliant manner. For additional information about DMG Blockchain Solutions and its initiatives, please visit Follow @dmgblockchain on X, LinkedIn and Facebook, and subscribe to the DMG YouTube channel to stay updated with the latest developments and insights. For further information, please contact: On behalf of the Board of Directors, Sheldon Bennett, CEO & Director Tel: +1 (778) 300-5406 Email: [email protected] Web: For Investor Relations: [email protected] For Media Inquiries: Chantelle Borrelli Head of Communications [email protected] Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Cautionary Note Regarding Forward-Looking Information This news release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this news release include statements regarding DMG's strategies and plans, executing on DMG's broader strategy to shift its data center capacity towards AI, securing high-value AI off-take agreements, the opportunity and plans to monetize bitcoin transactions and provide additional products and services to customers and users, the continued investment in Bitcoin network software infrastructure and applications, the expected allocation of capital, developing and executing on the Company's products and services, increasing self-mining, increasing hashrate, efforts to improve the operation of its mining fleet, the potential trimming of self-mining due to higher ambient temperature environment, the launch of products and services, events, courses of action, and the potential of the Company's technology and operations, among others, are all forward-looking information. Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hashrate may materially affect the future performance of DMG's production of bitcoin, and future operating results could also be materially affected by the price of bitcoin and an increase in hashrate mining difficulty. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as 'may', 'expect', 'estimate', 'anticipate', 'intend', 'believe' and 'continue' or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, market and other conditions, volatility in the trading price of the common shares of the Company, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company's financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoin; the demand and pricing of Gen AI data centers and usage; security threats, including a loss/theft of DMG's bitcoin; DMG's relationships with its customers, distributors and business partners; the inability to add more power to DMG's facilities; DMG's ability to successfully define, design and release new products in a timely manner that meet customers' needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements. The securities of DMG are considered highly speculative due to the nature of DMG's business. For further information concerning these and other risks and uncertainties, refer to the Company's filings on In addition, DMG's past financial performance may not be a reliable indicator of future performance. Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of viruses and diseases on the Company's ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoin from DMG or its customers, consumer sentiment towards DMG's products, services and blockchain and Gen AI technology generally, failure to develop new and innovative products, litigation, adverse weather or climate events, increase in operating costs, increase in equipment and labor costs, equipment failures, decrease in the price of Bitcoin, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of or statements made by third parties in respect of the matters discussed above.
