Dmg Blockchain S - DMGGF STOCK NEWS

DMG Blockchain Solutions (DMGGF) has released its preliminary mining results for January 2025. The company mined 31 Bitcoin, slightly down from 32 BTC in December 2024. The company's hashrate increased to 1.75 EH/s from 1.68 EH/s in December, with Bitcoin holdings growing to 431 BTC from 406 BTC.

The company has deployed its first megawatt of hydro miners using hydro direct liquid cooling (DLC) technology, reaching 1.8 EH/s by the end of January. DMG aims to expand its hashrate to 2.1 EH/s in the current quarter, with plans to energize the remaining five megawatts.

DMG Blockchain Solutions announced that its wholly owned subsidiary, Systemic Trust Company (STC), has received registration to operate as a special purpose trust company under Alberta's Loan and Trust Corporations Act. The registration enables STC to function as a Qualified Custodian for digital assets in Canada.

STC will leverage Fireblocks' wallet infrastructure, which has managed over 250 million wallets and secured transfers of more than $6 trillion in digital assets. This positions STC as the only Canadian Qualified Custodian using Fireblocks' platform, aiming to provide secure, compliant, and scalable digital asset custody solutions for Canadian institutions.

The development represents a significant milestone for DMG's Core+ software and services strategy, while also contributing to Alberta's growing financial services sector and technology ecosystem.

DMG Blockchain Solutions reported its December 2024 mining results, achieving 32 BTC mined with a hashrate of 1.68 EH/s and total Bitcoin holdings of 406 BTC. For Q4 2024, the company mined 97 bitcoin with an average hashrate of 1.62 EH/s and fleet efficiency of 23 J/TH.

The company grew its hashrate by over 70% in 2024, reaching 1.72 EH/s by year-end. DMG plans to expand to 2.1 EH/s in early 2025 using hydro direct liquid cooling technology, with a target of 3 EH/s by end of 2025. The company utilized a USD $19M loan facility from Sygnum Bank, drawing $9.4M with 295 bitcoin as collateral, and raised CAD $17.3M in equity funding.

Key initiatives include a partnership with Malahat Nation for 30MW of Gen AI compute capacity, development of the Systemic Trust platform for qualified custody, and enhancement of Terra Pool software for carbon-neutral Bitcoin ecosystem.

DMG Blockchain Solutions (DMGGF) has secured US Patent No. 12,067,572 for Cryptographic Taint Tracking, building upon their previous Patent No. 11,257,089. The new patent enhances Blockseer's wallet risk scoring method, focusing on detecting and tracking tainted cryptographic wallets to combat money laundering and fraud.

The technology features real-time identification of suspicious wallets, enhanced compliance measures, automatic risk flagging, and wallet quarantine capabilities for exchanges. The system aims to prevent engagement with wallets tied to illegal activities and supports law enforcement efforts.

Additionally, DMG has granted 424,680 stock options at $0.38 per share, vesting over 24 months, and 2,050,000 RSUs vesting in one year to employees and directors.

DMG Blockchain Solutions reported its Q4 and full-year 2024 financial results. Revenue reached $5.9M in Q4 (down 29% sequentially) and $33.9M for FY2024 (up 21% YoY). The company mined 65 bitcoin in Q4 and 502.5 bitcoin in FY2024, showing a 43% YoY decrease. Cash flow from operations improved to $8.2M for FY2024, up 69% YoY.

The company's hashrate reached 0.96 EH/s for FY2024, up 21% YoY, with current operations at 1.7 EH/s and plans to reach 2.1 EH/s by February 2025. Cash and digital assets stood at $36.0M at Q4 end, up 90% YoY. Net loss improved to -$0.03 per share in FY2024 from -$0.10 in 2023.

DMG Blockchain Solutions (OTCQB: DMGGF) has scheduled the release of its fourth quarter and full year 2024 financial results for Wednesday, December 18, 2024, after market close. The company will host a conference call on Thursday, December 19, 2024, at 4:30 PM ET to discuss the results and provide a corporate update. Shareholders can participate in a live Q&A session and submit questions via email to investors@dmgblockchain.com until 2:00 PM ET on December 19, 2024.

DMG Blockchain Solutions reported its November 2024 operational results, mining 32 BTC compared to 34 BTC in October, while increasing hashrate to 1.66 EH/s from 1.53 EH/s. Bitcoin holdings grew to 423 BTC from 399 BTC. The company recently closed a $17.3 million unit offering and purchased 5 megawatts of Bitmain S21+ Hydro miners, aiming to reach 2.1 EH/s by early 2025. Additionally, management demonstrated confidence through share purchases, with CEO Sheldon Bennett acquiring 99,461 shares and COO Steven Eliscu purchasing 107,000 shares.

DMG Blockchain Solutions announces the purchase of 5-megawatt Bitmain hydro miners for approximately US$5 million, expanding its mining operations. The miners feature 15 J/TH efficiency at $15/TH/s. Installation is planned in phases, with 1 megawatt by December 2024 and 5 megawatts by February 2025. This expansion will increase DMG's hashrate by 0.4 EH/s to reach 2.1 EH/s with 21 J/TH fleet efficiency. The company recently raised $16 million, allocating $7 million for mining equipment. DMG is also considering investments in AI infrastructure and Systemic Trust, its digital asset custody subsidiary.

DMG Blockchain Solutions has achieved SOC 2 Type II compliance, meeting AICPA standards for service organizations. This certification validates DMG's enterprise-level security for customer data in Terra Pool. Additionally, the company has purchased its first tranche of Bitmain S21 Hydro miners at under $15 per TH/s to fill a one-megawatt hydro mining container. These miners, with 16 J/TH efficiency, will produce 63 PH/s and are expected to be installed at the Christina Lake facility by year-end. DMG plans to order miners for the remaining five megawatts of hydro mining capacity in early 2025.