DMG Blockchain Solutions Reports First Quarter 2025 Results and February Operations Update

About this update from Dmg Blockchain Solutions, Inc.

DMG Blockchain Solutions Reports First Quarter 2025 Results and February Operations Update VANCOUVER, British Columbia, March 03, 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 first quarter 2025 financial results. All financial references are in Canadian Dollars unless specified otherwise. Readers are encouraged to review the Company’s December 31, 2024 quarterly unaudited financial statements and management’s discussion and analysis thereof for a fulsome assessment of the Company’s performance and applicable risk factors, available at www.sedarplus.ca. 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 DM...

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