DMG Blockchain Solutions Announces AI Strategy Update and November Preliminary Operational Results

Executive Summary

• DMG Blockchain Solutions announced a strategic shift to convert its Christina Lake facility into a 50‑MW liquid‑cooled AI data centre, seeking partnership opportunities.
• The company reaffirmed the pending purchase of a 27,600 sq ft building on leased land in Boardman, Oregon, expecting closure “in the coming weeks.”
• Preliminary November 2025 mining results show hash rate at 1.81 EH/s and a bitcoin balance of 380 BTC, with a modest decline in BTC mined versus October.

Key Details

• AI Development Strategy:
• Target: build a world‑class 50‑MW critical IT load (CITL) AI data centre at Christina Lake capable of supporting the latest GPU hardware.
• Timeline: aim to have the AI facility operational by end‑2027.

• Approach: partner with one or more entities; leverage Canada’s limited renewable‑energy transmission capacity near population centres.

• Asset Purchase (Oregon):

• Property: 27,600 sq ft building on 8 acres of leased land, option to lease an adjacent 10‑acre lot.

• Status: transaction announced on 4 Nov 2025; expected closing “in the coming weeks.”

• Bitcoin Mining Guidance Withdrawal:

• Previously set end‑of‑year hash‑rate target of 3 EH/s is withdrawn.

• Company now focusing resources on AI conversion rather than meeting that mining metric.

• Preliminary November 2025 Operational Results:

• Bitcoin mined: 22 BTC (down from 23 BTC in Oct 2025).
• Hashrate: 1.81 EH/s (up from 1.75 EH/s in Oct 2025).

• Bitcoin balance: 380 BTC (up from 359 BTC in Oct 2025).

• Management Commentary:

• CEO Sheldon Bennett emphasized maximizing shareholder return through the AI transition, continued partnership with Indigenous communities, and collaboration with the Canadian government on a pan‑Canadian sovereign AI initiative.

Notable Quotes

“DMG is highly focused on maximizing its return to shareholders that can be unlocked by enabling Christina Lake as a solely dedicated AI data centre… While Bitcoin mining would migrate from Christina Lake, we expect it to remain as part of our future, as it is a foundational element of our digital asset financial services strategy.” – Sheldon Bennett, CEO & Director

Materiality Assessment: Material – Positive (strategic pivot to AI data‑center operations and pending acquisition represent significant corporate direction changes with potential upside for shareholders).