DMG Blockchain Solutions Inc. Reported first quarter 2026 revenue of $11.2 million, a 2% decrease from the $11.4 million recorded in the fourth quarter of 2025 and a 4% decline from the $11.6 million reported in the first quarter of 2025, according to a press release issued February 25, 2026.
The company mined 69 Bitcoin during the quarter, down from 72 in the previous quarter and 97 in the same period last year. Despite the decrease in Bitcoin mined, DMG’s hashrate increased by 10% compared to the fourth quarter of 2025, reaching 1.76 EH/s, with a fleet efficiency of 22.0 J/T.
As of the end of Q1 2026, DMG held $58.6 million in cash, short-term investments, and digital assets, a 10% reduction from the $65.2 million held at the end of 2025. Total assets too decreased, falling 8% to $122.0 million from $132.0 million at year-end 2025.
The company reported a net income of -$2.2 million, or -$0.01 per share. DMG’s CEO, Sheldon Bennett, stated the company continued to focus on its core data center operations and its Core+ Digital Asset Financial Services. Bennett highlighted the ongoing conversion of the Christina Lake facility into an AI data center, aiming for at least 50 megawatts of critical IT load, and the development of its Digital Asset Financial Services, with Systemic Trust as a key component for future revenue growth.
The earnings announcement followed a 6% dip in the company’s stock price, according to reports. Revenue from self-mining operations decreased by 16% due to lower Bitcoin prices and network yields, although this was partially offset by energy incentives, according to an earnings call transcript. A sizable energy efficiency incentive contributed to narrowing the company’s operating loss as it pivots toward AI data centers and financial services.
Financial statements and management’s discussion and analysis are available at www.sedarplus.ca.
