DMG Blockchain Solutions Announces 75 MW Utility Approval Expanding Christina Lake Data Center Power, February Preliminary Operational Results

Executive Summary

• DMG Blockchain Solutions received verbal approval for an additional 10 MW of non‑firm power, raising total available capacity to 75 MW (15 MW firm + 60 MW non‑firm).
• The company plans to apply for further non‑firm power and is exploring backup/primary generation using a natural‑gas line and renewable natural gas at its Christina Lake site.
• February 2026 preliminary operational results show stable Bitcoin production (23 BTC) and a modest increase in hashrate to 1.78 EH/s, with the bitcoin balance decreasing slightly to 410 BTC after partial liquidation.

Key Details

• Power Capacity: Verbal utility approval for +10 MW non‑firm power → total capacity now 75 MW (15 MW firm, 60 MW non‑firm).
• Future Power Strategy: Intends to submit a new application for additional non‑firm power; previously applied for 150 MW of firm power.
• Cost Implications: Non‑firm power has reduced energy costs; only three days of curtailment occurred in Feb 2025.
• Hedging Option: Ability to use financial hedging contracts to eliminate curtailment risk, though at a higher average energy rate—more suitable for AI data center operations than Bitcoin mining.
• Backup Power Exploration: Discussions with utility to use natural‑gas transmission line on Christina Lake property for backup or primary generation; potential incorporation of renewable natural gas (RNG) for carbon‑neutral operation.
• CEO Comment: Sheldon Bennett highlighted focus on securing AI off‑takers, expanding power beyond 50 MW IT load, and enhancing connectivity and supply chain at Christina Lake.
• February 2026 Operational Metrics:
• Bitcoin mined: 23 BTC (same as Jan 2026)
• Hashrate: 1.78 EH/s (up from 1.69 EH/s in Jan 2026) – aligns with guidance.
• Bitcoin balance: 410 BTC (down from 414 BTC in Jan 2026) after liquidation to fund operations.

Notable Quotes

“Even as we are focused on finding the right AI off‑takers for our Christina Lake data center, 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.” – Sheldon Bennett, CEO & Director

Materiality Assessment: Material – Neutral – The announcement provides material insight into DMG’s power infrastructure and operational performance, which are key to its Bitcoin mining and emerging AI data‑center business.