DMG Announces Preliminary June Operational Results
Bitcoin Mined: 23 BTC (vs 31 BTC in May 2025)
Hashrate: 1.56 EH/s (vs 1.89 EH/s in May 2025)
Bitcoin Holdings: 346 BTC (vs 350 BTC in May 2025)
During June 2025, DMG’s realized hashrate was 1.56 EH/s, down 18% from the 1.89 EH/s reported in May, as the Company experienced an unscheduled electrical outage of nearly two days at its Christina Lake facility and faced continued challenges operating its hydro infrastructure.
In particular, a regional lightning storm resulted in the tripping of a main substation breaker that required extensive servicing. In addition, DMG’s hydro infrastructure has been experiencing downtime related to contamination due to manufacturer quality control issues. This problem has been actively addressed over the past several weeks. The Company believes that with additional servicing and close monitoring, it can bring the hashrate of its current hydro mining capacity closer to its 0.4 EH/s potential, even as the summer heat sets in. The hydro miners are designed to operate in ambient temperatures exceeding 40 degrees Celsius, albeit at lower efficiencies.
Based on experience gained from its initial 6-megawatt hydro mining container build-out, DMG now plans to source new hydro infrastructure from alternative manufacturers; for its planned Christina Lake building hydro deployment, the Company will utilize its existing electrical distribution and shelving, while sourcing key hydro infrastructure components from best-of-breed vendors. This should simplify the transition from air-cooled to direct liquid-cooled mining, while giving DMG improved quality control over its supply chain and infrastructure component integration. DMG intends to build a pilot system in its Christina Lake building this summer ahead of its planned expansion to grow to 3 EH/s by the end of calendar 2025.
DMG’s bitcoin balance was 341 BTC at the end of June. The Company sold bitcoin during the month to fund operating expenses and further reduce its loan balance with Sygnum Bank, in line with prior guidance.
Agreement for a New Bitcoin Mining Site in Canada outside of British Columbia
DMG announces it has executed a binding agreement following its May 2023 announcement to develop a new data processing center with access to low-cost renewable energy located in a Canadian province outside of British Columbia. The agreement supports DMG’s longer-term strategy to identify pockets of low-cost energy, based on which it intends to eventually operate the majority of its Bitcoin mining fleet. Once fully operational, DMG expects to initially add approximately 1 EH/s of Bitcoin mining capacity, depending on the selected equipment and the commissioning timeframe, currently projected for the second half of calendar 2026.
DMG’s CEO, Sheldon Bennett, commented, "In June, we encountered several unforeseen issues with our Bitcoin mining infrastructure, but we also advanced our longer-term objective to migrate our Bitcoin mining to where energy is less expensive. We continue to make progress in our discussions with Canadian governmental agencies, with a focus on the Department of National Defence, as Canada has pledged to increase its military spending, with AI as a key pillar of that growth. Regarding Systemic Trust, we remain encouraged regarding custody clients onboarding to the platform as well as expanding the platform capability beyond custody."
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DMG
DMG’s mission is to lead the digital asset industry by meeting the most stringent compliance requirements while focused on environmental requirements.
Blockseer/Core+
Blockseer blockchain software products help enable crypto adoption and growth.
Systemic Trust
Systemic Trust, a custody solution for digital assets, ensures security with advanced technology, risk management, and transparency.
Terra Pool
Terra Pool, enabled by Blockseer software, is the world's first Bitcoin mining pool focused on carbon neutral energy and clean block mining.
