- DMG Blockchain Solutions (TSXV:DMGI) signed a letter of intent to convert its Bitcoin mining facility in Christina Lake, BC, into a 50-megawatt AI data center.
- The sustainable, vertically integrated digital asset and data center technology company focuses on monetizing the blockchain and artificial intelligence ecosystems.
- DMG Blockchain stock has added 16.67 per cent year-over-year, giving back 64.20 per cent since 2021.
Crypto and data center company, DMG Blockchain Solutions (TSXV:DMGI), signed a letter of intent (LOI) to convert its Bitcoin mining facility in Christina Lake, BC, into a 50-megawatt AI data center.
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The potential tenant, protected under a non-disclosure agreement, will be providing DMG with an investment-grade backstop for review with eyes on hammering out a definitive agreement. The parties are aiming for an initial 12-year term, plus up to three optional renewal periods of five years.
DMG plans to deliver colocation capacity in phases, with the first phase intended to be finalized by December 31, 2026, setting the company up to collect monthly recurring revenue based on current market rates, including annual escalations, as set out in the LOI. The company plans to use debt to meet the deal’s capital requirement needs.
The LOI follows a value-conscious Q2 2026 for DMG, which managed to cut operating and maintenance expenses, as well as general and administrative costs, in the face of a drop in revenue because of lower crypto prices.
About DMG Blockchain Solutions
DMG Blockchain Solutions is a sustainable, vertically integrated digital asset and data center technology company focused on monetizing the blockchain and artificial intelligence ecosystems.
DMG Blockchain stock (TSXV:DMGI) last traded at C$0.32 and has added 16.67 per cent year-over-year, giving back 64.20 per cent since 2021.
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