DMG to expand Christina Lake data centre non-firm power

Executive Summary

• DMG Blockchain Solutions received verbal utility approval for an additional 10 MW of non-firm power, bringing total available capacity to 75 MW (15 MW firm + 60 MW non-firm).
• The company reported preliminary operational results for February 2026, showing a hash rate of 1.78 EH/s and a Bitcoin balance of 410 BTC after liquidating mined coins to finance operations.
• DMG is exploring backup power generation via natural gas transmission lines and renewable natural gas to support potential AI data center operations and carbon-neutral goals.

Key Details

• Power Capacity Expansion:
  • Received verbal approval for an additional 10 MW of non-firm power.
  • Total available power capacity is now 75 MW, comprised of 15 MW of firm power and 60 MW of non-firm (curtailable) power.
  • Plans to submit a new application for additional non-firm power rather than pursuing the previously applied-for 150 MW of firm power, citing lower capital costs and higher availability.
• Operational Performance (February 2026):
  • Hash Rate: Averaged 1.78 EH/s (up from 1.69 EH/s in January 2026).
  • Bitcoin Mined: 23 BTC (consistent with January 2026).
  • Bitcoin Balance: 410 BTC at end of February (down from 414 BTC in January due to liquidation to finance operations).
• Curtailment History:
  • Non-firm power usage has been successful, resulting in only three days of curtailment, which occurred in February 2025.
  • Company notes the option to use financial hedging contracts to eliminate financial curtailment events, though this results in higher average energy rates more suitable for AI data centers than Bitcoin mining.
• Future Infrastructure & Strategy:
  • Exploring use of natural gas transmission line on Christina Lake property for backup or primary power generation.
  • Investigating renewable natural gas options to offer fully carbon-neutral operations for potential AI offtakers.
  • CEO Sheldon Bennett highlighted the focus on securing AI offtakers and expanding power capacity beyond 50 MW of critical IT load.

Notable Quotes

• "Even as we are focused on finding the right AI offtakers for our Christina Lake data centre, in parallel, we are seeking options that will position the property to be more valuable, especially if we can provide power expansion opportunities that go well beyond 50 megawatts of critical IT load. Energy availability is most important, but we are also working to ensure that our Christina Lake data centre offers world-class connectivity and that we are building a broad supply chain that will help us ensure success." — Sheldon Bennett, CEO