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DMG Blockchain Solutions Inc. Announces Purchase of Two Megawatts of AI Data Center Infrastructure
VANCOUVER, British Columbia, April 29, 2025 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TS...
About this update from Dmg Blockchain Solutions, Inc.
[{"type":"text","content":"DMG Blockchain Solutions Inc. Announces Purchase of Two Megawatts of AI Data Center Infrastructure\n\n\n\n VANCOUVER, British Columbia, April 29, 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, announces it has signed a purchase and sale agreement (PSA) for two megawatts of Prefabricated Data Center (“PDC”) infrastructure for a confidential consideration with the same undisclosed counterparty (“Counterparty”) with which it has an MOU signed in February 2025 to purchase 10 megawatts of PDC infrastructure.\n \n\n This asset purchase payment is in lieu of the previously disclosed US$5M upfront payment with the balance of the to-be-agreed-upon price based on future DMG revenue resulting from artificial intelligence (AI) computing off-take agreements. The Company intends to move the two megawatts of purchased PDC units to either its Christina Lake data center, Malahat Nation lands and/or a temporary storage location in the coming months. DMG intends to acquire the remaining available PDC infrastructure under the original 10-megawatt MOU terms.\n \n\n Since the signing of the MOU, DMG has made progress with respect to engaging Canadian government entities and enterprises for off-take agreements. DMG has up to 180 days to demonstrate progress towards reaching off-take agreements to maintain its exclusivity towards closing a definitive agreement to acquire the balance of the available PDC units. DMG will issue an additional news release related to the final structure and terms of the potential transaction, and other material information if and when it becomes available.\n \n\n DMG intends to deploy the PDC units at one or more locations, as the PDC infrastructure can be partitioned into smaller units due to its modular nature. While the infrastructure forms the basis for an AI data center, it does not include medium-voltage power distribution, battery storage or backup power generation, the configuration and amount of which have yet to be determined. Additionally, the PDC is not facilitated with computing, networking nor storage systems, all of which will need to be installed to realize revenue from potential AI off-take agreements.\n \n\n DMG’s CEO S...