DMG Blockchain Solutions recently reported their third quarter fiscal performance.
Revenue for the Canadian data centre startup was north of $6 million, a figure which was down 13% from the prior quarter, and down 45% year-over-year from more than $11M in Q3 2025.
The amount of Bitcoin that DMG mined was also down—10% versus the prior quarter and 27% versus the same quarter of 2025.
DMG fell short of profitability, losing nearly $4 million during the quarter, compared with a net loss of less than half a million dollars in Q3 2025. Total assets shrunk to $102M.
Chief executive officer Sheldon Bennett says that focus of the quarter was “realizing our vision to transition our flagship Christina Lake facility to operate as an AI data centre.”
The Canadian company launched in 2019 to mine Bitcoin through its 27,000-square-foot facility in Christina Lake before pivoting to an AI data centre model in 2026. This summer, DMG reported its first customer for AI compute.
“We are actively working towards a definitive agreement,” Bennett said.
Bennett says DMG is “moving forward with key project execution steps,” he continued, “including selecting our contractors and engineering design partners, strengthening our vendor relationships, applying for the necessary permits, exploring multiple financing options, and addressing concerns from the local community.”
“We remain committed to project success and enabling our off-take client to begin operating its servers in a timely manner,” he stated.
This year, DMG was awarded a $1.5 million “energy efficiency incentive” for its deployment of hydro direct liquid cooled server technology at the company’s 65 megawatt data centre facility.
DMG Blockchain Solutions trades on the TSX Venture Exchange as DMGI.