DMG Blockchain Q3 Revenue Falls 45%; AI Data Center Pivot Takes Shape

The company is steering its resources toward a bigger pivot. CEO Sheldon Bennett said DMG is “actively working towards a definitive agreement” to offer 50 megawatts of AI data center colocation services at its Christina Lake facility to a single tenant. The miner disclosed a letter of intent for the deal earlier this year. In parallel, it is selecting contractors, applying for permits, exploring financing options and addressing local community concerns.

“We remain committed to project success and enabling our off-take client to begin operating its servers in a timely manner,” Bennett said.

The revenue slide reflects conditions across the Bitcoin mining sector, where the April 2024 halving cut block rewards in half and token prices have fluctuated well below the peaks that fueled prior growth. Miners with higher-cost power or older rigs face similar pressure to diversify or scale.

DMG’s shares trade on the TSXV Venture Exchange under DMGI and on the OTCQB Venture Market under DMGGF.