DMG Blockchain Solutions Inc. (TSX-V: DMGI) announced its preliminary operational results for June 2025, reporting a 26% decline in Bitcoin mined compared to May.
- Bitcoin mined: 23 BTC in June, down from 31 BTC in May
- Hashrate: 1.56 EH/s, an 18% decrease from 1.89 EH/s in May
- Bitcoin balance: 341 BTC, down from 350 BTC the previous month
The output decline was mainly due to an unscheduled two-day electrical outage at DMG’s Christina Lake facility caused by a lightning storm, which triggered a substation breaker requiring extensive repairs. Additionally, ongoing issues with hydro infrastructure, including contamination linked to manufacturer quality control, contributed to downtime. DMG is addressing these challenges through servicing and plans to enhance monitoring to achieve closer to its 0.4 EH/s hydro mining potential, despite high summer temperatures.
Learning from its initial 6-megawatt hydro mining deployment, DMG intends to source future hydro infrastructure components from alternative manufacturers to improve quality control. The company plans to build a pilot direct liquid-cooled hydro mining system at Christina Lake this summer, aiming to expand total capacity to 3 EH/s by the end of 2025.
DMG also sold some Bitcoin during June to fund operations and reduce its loan balance with Sygnum Bank, aligning with previous guidance.
In a strategic development, DMG has signed a binding agreement to develop a new data processing center in a Canadian province outside British Columbia. This facility will leverage low-cost renewable energy and is expected to add approximately 1 EH/s of Bitcoin mining capacity, targeted for the latter half of 2026.
CEO Sheldon Bennett noted the company’s ongoing efforts to relocate mining operations to regions with cheaper energy and highlighted progress in discussions with Canadian government agencies, emphasizing AI as a key growth area linked to increased military spending.
Additionally, DMG granted 201,607 stock options exercisable over five years at $0.285 per share and 1,275,000 restricted stock units (RSUs) to employees and directors. The stock options vest in 25% increments every six months over two years, while RSUs vest after one year to incentivize long-term performance.
DMG Blockchain Solutions is a vertically integrated company managing blockchain and data center technologies, focusing on monetizing digital asset and AI ecosystems. Its subsidiary, Systemic Trust Company, supports carbon-neutral Bitcoin transactions for financial institutions.