VANCOUVER, British Columbia, Feb. 25, 2026 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSXV:DMGI) (OTC:DMGGF) (FRANKFURT: 6AX) (“DMG”), a vertically integrated blockchain and data center technology company, today announces its fiscal first quarter 2026 unaudited financial results. All financial references are in Canadian Dollars unless specified otherwise. Readers are encouraged to review the Company’s December 31, 2025 quarterly unaudited financial statements and management’s discussion and analysis thereof for an assessment of the Company’s performance and applicable risk factors, available at http://www.sedarplus.ca.
Q1 2026 Financial Results Highlights
Revenue: $11.2 million in Q1 2026, down 2% from $11.4 million in Q4 2025 and down 4% from $11.6 million in Q1 2025Bitcoin Mined: 69 bitcoin, down from 72 bitcoin in Q4 2025 and 97 bitcoin in Q1 2025Hashrate: 1.76 EH/s, up 10% from Q4 2025, with fleet efficiency of 22.0 J/TCash, Short-term Investments and Digital Assets: $58.6 million at the end of Q1 2026, down 10% from $65.2 million at year-end 2025Total Assets: $122.0 million at the end of Q1 2026, down 8% from $132.0 million at year-end 2025Net Income: -$2.2 million or -$0.01 per share
DMG’s CEO, Sheldon Bennett, commented, “In Q1 2026, we continued to execute on our two strategic pillars: our Core data center operations and our Core+ Digital Asset Financial Services. We are highly focused on converting our Christina Lake facility into an AI data center capable of providing at least 50 megawatts of critical IT load to fill an industry gap in available capacity. Simultaneously, we are building out our Digital Asset Financial Services, with Systemic Trust serving as the cornerstone for future revenue growth. We are actively pursuing AI off-takers and potential government partnerships, as we believe these strategic initiatives will deliver lasting value to our shareholders.”
First Quarter 2026 Financial Results Review
Revenue decreased from $11.6 million for the three months ended December 31, 2024 (“Q1 fiscal 2025”) to $11.2 million for the three months ended December 31, 2025 (“Q1 fiscal 2026”). The decrease in revenue is attributable to a $1.8 million decrease in digital currency mining revenues, partially offset by other revenue of $1.5 million related to an energy efficiency incentive. The decrease in mining revenue is the result of lower average Bitcoin economics in Q1 fiscal 2026 compared to Q1 fiscal 2025.
Depreciation for Q1 fiscal 2026 was $3.5 million compared to $4.3 million in Q1 fiscal 2025. The $0.8 million decrease is primarily driven by the declining balance depreciation method, which results in higher depreciation charges immediately following asset activation. There were significant additions in fiscal 2023 and early in fiscal 2024 which resulted in higher depreciation expense for Q1 fiscal 2025 as compared to Q1 fiscal 2026.
Net loss decreased by $0.9 million from a net loss of $3.1 million for Q1 fiscal 2025 to a net loss of $2.2 million for Q1 fiscal 2026. The reduced loss is primarily a result of a reduced operating loss resulting from the energy incentive payment and foreign exchange.
Net income/loss and comprehensive income/loss decreased by $28.7 million from income of $12.2 million in Q1 fiscal 2025 to a loss of $16.5 million in Q1 fiscal 2026. This is primarily the result of a $15.3 million unrealized revaluation gain in Q1 fiscal 2025 compared to a $14.3 million unrealized valuation loss in Q1 fiscal 2026, partially offset by the $0.9 million reduction in net loss.
Total assets as of December 31, 2025 were $122.0 million (September 30, 2025 – $132.0 million), a decrease of $10.0 million. The decrease is attributable to the $6.0 million decrease in valuation of its digital assets and $3.1 million decrease in its fixed assets as a result of depreciation.
First Quarter 2026 Results Conference Call Details
The Company will host a conference call to review its results and provide a corporate update on February 26, 2026 at 4:30 PM ET. Participants should register for the call via the link.
In addition to a live Q&A session via chat, management will also address pre-submitted questions. Those wishing to submit a question may do so via email at [email protected], using the subject line ‘Conference Call Question Submission,’ through 2:00 PM ET on February 26, 2026.
About DMG Blockchain Solutions Inc.
For more information on DMG Blockchain Solutions visit: http://www.dmgblockchain.com
Follow @dmgblockchain on X and subscribe to DMG’s YouTube channel.
For further information, please contact:
On behalf of the Board of Directors,
Sheldon Bennett, CEO & Director
Tel: +1 (778) 300-5406
Email: [email protected]
Web: http://www.dmgblockchain.com
For Investor Relations:
[email protected]
For Media Inquiries:
[email protected]
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
Future changes in the Bitcoin network-wide mining difficulty or Bitcoin hashrate may materially affect the future performance of DMG’s production of bitcoin, and future operating results could also be materially affected by the price of bitcoin and an increase in hashrate and mining difficulty.
Photos accompanying this announcement are available at
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