Dmg Blockchain Solutions (DMGI) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 was CAD 7.3 million, down 35% sequentially and 42% year-over-year, as the company shifts from Bitcoin mining to AI data center operations targeting 50 MW+ capacity at Christina Lake.

• 68.8–69 Bitcoin mined in Q2 2026, flat sequentially but down 25% year-over-year.

• Net loss of CAD 3.5 million, or -CAD 0.02 per share, for the March quarter, compared to a net loss of CAD 3.3 million in Q2 2025.

• Management dedicates over 80% of time to AI marketing and client acquisition, with a strategic focus on expanding digital asset financial services and Systemic Trust.

• Progressing on a 30 MW AI data center agreement with Malahat Nation, aiming for public sector penetration.

Financial highlights

• Operating and maintenance costs decreased 23% sequentially to CAD 5.2 million, mainly due to lower utilities and retirement of inefficient miners.

• General and administrative costs fell to CAD 1.3 million from CAD 1.9 million year-over-year.

• Depreciation expense was CAD 2.8 million, down from CAD 4.3 million year-over-year.

• Cash, short-term investments, and Bitcoin holdings totaled CAD 47.4 million, down 19% from the prior quarter.

• Book value at CAD 85.3 million, or CAD 0.41 per share.

Outlook and guidance

• AI data center transition at Christina Lake not dependent on additional 150 MW firm power; 75 MW available is sufficient for near-term plans.

• 2 MW of prefabricated data centers targeted to be operational by year-end, with revenue generation expected after commissioning.

• Management anticipates value creation from AI data center conversion and expansion of digital asset services.

• Continued focus on securing investment-grade offtakers for AI colocation contracts.

• Continued development of Systemic Trust platform to broaden service offerings.