Dmg Blockchain Solutions (DMGI) Q3 2026 earnings summary

Executive summary

• Focused on transitioning the Christina Lake facility to an AI data center, prioritizing a 50 MW colocation agreement with primary commercial terms agreed, though completion timeline is uncertain.

• Q3 2026 revenue was CAD 6.4 million (down 13% sequentially and 45% year-over-year), mainly due to lower digital currency mining revenue, reduced bitcoin prices, and production.

• Net loss for Q3 2026 was CAD 3.9 million (CAD 0.02 per share), compared to a net loss of $0.4 million in Q3 2025.

• Digital asset financial services business continues development, recently rebranded to Numis Trust with expanded platform functionality.

Financial highlights

• Q3 2026 revenue was CAD 6.4 million, down 13% sequentially and 45% year-over-year, mainly due to a 14% lower hashrate and reduced mining capacity.

• Operating and maintenance costs fell 15% sequentially and to $4.4 million from $6.5 million year-over-year, supporting a margin increase to 31% from 29%.

• Net loss for the quarter was CAD 3.9 million (CAD 0.02 per share); earnings before other items were minus CAD 3 million.

• Cash, short-term investments, and Bitcoin holdings totaled CAD 41.6 million, down 12% from the prior quarter.

• Sold 80 Bitcoin (129% of mined output), generating CAD 7.8 million in cash; Bitcoin balance decreased 5% to 379 BTC.

Outlook and guidance

• Committed to securing a definitive agreement for the 50 MW AI colocation project and expanding Christina Lake capacity beyond 75 MW.

• Exploring additional Canadian sites, each potentially matching Christina Lake in size.

• Revenue from AI colocation will be phased in as megawatts come online, not dependent on full facility completion.

• No specific guidance on digital asset financial services revenue; focus remains on platform growth and compliance.

• Management is progressing with project execution, including contractor selection, permitting, and financing, to enable the off-take client to begin server operations in a timely manner.