We are pleased to share an important milestone in DMG's strategic evolution from a digital asset infrastructure company to a provider of large-scale AI data center services.

DMG has signed a Letter of Intent (LOI) with a prospective tenant to provide up to 50 megawatts (MW) of critical IT load AI colocation capacity at our Christina Lake, British Columbia facility.

While the tenant remains confidential under a non-disclosure agreement and the parties continue negotiations toward a definitive agreement, this LOI represents a significant validation of DMG's infrastructure, power assets, and long-term vision.

Key Highlights

✅ 50 MW AI Data Center Opportunity

The proposed arrangement would utilize 50 MW of AI data center capacity at Christina Lake, positioning DMG among Canada's emerging providers of large-scale AI infrastructure.

✅ Long-Term Revenue Potential

The proposed agreement contemplates an initial 12-year term, with renewal options extending the relationship by up to an additional 15 years.

✅ Phased Deployment Beginning in 2026

The parties are targeting delivery of the first phase of capacity by December 31, 2026, with additional phases following thereafter.

✅ Market-Based Commercial Terms

The LOI includes monthly recurring charges and annual escalators reflective of current AI colocation market conditions.

✅ Investment Grade Review Process

As part of the due diligence process, the prospective tenant is expected to provide an investment-grade backstop for DMG's review.

Building on DMG's AI Strategy

Over the past year, DMG has been actively positioning Christina Lake as one of Canada's premier locations for AI infrastructure deployment. With substantial available power, existing data center expertise, and a proven operational track record, we believe DMG is uniquely positioned to participate in the rapidly expanding AI economy.

This opportunity aligns directly with our previously announced strategy to develop a 50 MW AI-focused critical IT load facility while leveraging our expertise in high-performance computing and energy-efficient operations.

Continuing Operations

While negotiations continue, DMG will maintain normal operations at Christina Lake, which currently functions primarily as a Bitcoin mining facility.

Should a definitive agreement be executed, the facility would transition over time to support AI colocation services for the tenant.

Looking Ahead

The execution of a definitive agreement remains subject to ongoing negotiations, due diligence, financing arrangements, and customary conditions. There can be no assurance that a definitive agreement will be completed.

Nevertheless, we view this LOI as a significant step forward and an important indicator of market demand for DMG's infrastructure platform.

We look forward to providing additional updates as discussions progress.

Thank you for your continued support and confidence in DMG.